1995-083 - Laserfiche WebLink

Home Browse Search

considered paid by the Issuer, and the assignment and pledge hereunder and all covenants, agreements and other obligations of the Issuer to the registered owners shall continue to exist and shall run to the benefit of AMBAC Indemnity, and AMBAC Indemnity shall be subrogated to the rights of such registered owners. SECTION 7. In order to revise certain covenants made by the Issuer in connection with its responsibility to provide continuing disclosure pursuant to Rule 15c2-12 promulgated by the Securities and Exchange Commission, Section 11 of Resolution No. 95-75 is hereby amended in its entirety to read as follows: A. The Issuer hereby agrees, in accordance with the provisions of Rule 15c2-12 (the "Rule"), promulgated by the Securities and Exchange Commission (the "Commission") pursuant to the Securities Exchange Act of 1934, to provide or cause to be provided, to each nationally recognized municipal securities information repository ("NRMSIR") designated by the Commission in accordance with the Rule, and to the appropriate state information depository ("SID"), if any, designated by the State of Florida, the following annual financial information and operating data (the "Annual Information"), commencing with the fiscal year ending September 30, 1996: 1. The assessed value of taxable property within the County, Issuer tax levies and collections, including property tax rates for the Issuer and all overlapping taxing entities, and computation of direct and overlapping debt; all generally consistent with such information as it is included in the final Official Statement for the Bonds. 2. The audited general purpose financial statements of the Issuer utilizing generally accepted accounting principles applicable to governmental units, as described in the Official Statement, except as may be modified from time to time and described in such financial statements. The information in paragraph 1 above will be available on or before June 1 of each year for the preceding fiscal year and will be made available, in addition to the NRMSIR's and the SID, to each holder of Bonds who requests such information. Audited financial statements of the Issuer may be available separately from the information in paragraph 1 above, and will be provided as soon as practical after acceptance of such statements from the auditors by the Issuer. The audited financial statements are generally available within 6 months of the end of the fiscal year. If the audited financial statements are not available by June 1, the Issuer will provide unaudited general purpose financial statements at the time the information in paragraph 1 is distributed. 10