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i CONTINUING DISCLOSURE i I ! In accordance with SEC Rule 15c2~12(b)(5), the City will undertake, pursuant to the ! resolution awarding sale of the Bond, to provide annual reports and notices of certain I events. A description of this undertaking is set forth in the Official Statement. The I purchaser's obligation to purchase the Bonds will be conditioned upon receiving evidence i of this undertaking at or prior to delivery of the Bonds. I I i! H OFFICIAL ST A TE.MENT !i The City has authorized the preparation of an Official Statement containing pertinent :I infonnation relative to the Bonds, and said Official Statement will serve as a nearly final 'I !I Official Statement within the meaning of Rule 15c2-12 of the Securities and Exchange 1.1.11 Comrnissio. n. For copies of the Official Statement or for any additional information Prior. : to sale, any prospective purchaser is referred to the Financial Advisor to the City, II Springsted Incorporated, 85 East Seventh Place, Suite 100, Saint Paul, Minnesota 55101, !!telephone (651) 223-3000. lj '! The Official Statement, when further supplemented by an addendum or addenda Ii specifying the maturity dates, principal amounts and interest rates of the Bonds, together III with any other information required by law, shall constitute a "Final Official Statement" ! of the City with respect to the Bonds, as that term is defined in Rule 15c2-12. By II awarding the Bonds to any underwriter or underwriting syndicate submitting a proposal II there for, the City agrees that, no more than seven business days after the date of such II award, it shall provide without cost to the senior managing underwriter of the syndicate II to which the Bonds are awarded 150 copies of the Official Statement and the addendum II or addenda described above. The City designates the senior managing underwriter of the !I syndicate to which the Bonds are awarded as its agent for purposes of distributing copies II of the Pinal Official Statement to each Participating Underwriter. Any underwriter qdeIivering a proposal with respect to the Bonds agrees thereby that if its proposal is II ilaccepted by the City (i) it shall accept such designation and (ii) it shall enter into a llcontractual relationship with all Participating Underwriters of the Bonds for purposes of il'assUring the receipt by each such Participating Underwriter of the Final Official Ii Statement. :I !jDated August 24, 2004 iI ii BY ORDER OF THE CITY COUNCrr. I, 'i Ii II I: !i :1 l! Ii I' ,'I /I (j I' " :1 'I 'I II I. SJH-~!:19~vl NEl.:>r>.dl n /s/ Daniel Maiers Director of Finance and Support Services