Books and Accounts; Financial Statements. The Authority will keep proper and current itemized records, books, and accounts in which complete and accurate entries shall be made of the receipt and use of all amounts of Pledged Revenues and such other calculations required by this Agreement, the Bond Documents, the Resolution, and any applicable law or regulation. The Authority shall prepare after the close of each fiscal year, a complete financial statement prepared in accordance with generally accepted accounting principles accepted in the United States of America for such year in reasonable detail covering the above information, by a certified public accountant, and shall furnish a copy of such statement to the Developer (or District as applicable) within 270 days after the close of each fiscal year of the Authority or upon such earlier date as may be required by the Bond Documents.
Books and Accounts; Financial Statements. The Agency shall keep, or cause to be kept, proper books of record and accounts, separate from all other records and accounts of the Agency and the City of San Diego, in which complete and correct entries shall be made of all transactions relating to the Redevelopment Project, the Redevelopment Fund and to the Tax Revenues. Such books of record and accounts shall at all times during business hours be subject to the inspection of the Owners of not less than ten percent (10%) in aggregate principal amount of the Bonds then Outstanding, or their representatives authorized in writing.
Books and Accounts; Financial Statements. The District shall keep proper and current itemized records, books, and accounts in which complete and accurate entries will be made of the receipt and use of all amounts of revenue received from any and all sources and such other calculations required by this Agreement, the District Bond Documents, and any applicable law or regulation. The District shall prepare, after the close of each fiscal year, a complete financial statement prepared in accordance with generally accepted accounting principles accepted in the United States of America for such year in reasonable detail covering the above information, and if required by statute, certified by a public accountant, and will furnish a copy of such statement to the other Parties within two hundred and ten (210) days after the close of each fiscal year of the District or upon such earlier date as may be required by the District Bond Documents. All books, records and reports (except those allowed or required by applicable law to be kept confidential) in the possession of the Town and the District, including, without limitation, those relating to the Pledged Revenue, Eligible Improvements, Eligible Costs, District Pledged Revenue, District Operating Revenue, and District Bonds will at all reasonable times be open to inspection by such accountants or other agents as the respective Parties may from time to time designate.
Books and Accounts; Financial Statements. (a) The Purchaser hereby covenants that it will keep proper books of record and accounts in which complete and correct entries shall be made of all transactions relating to the System Revenues. Such books of record and accounts shall at all times during business hours be subject to the inspection of IBank or its designee. To the extent that any continuing disclosure certificates entered into by the Purchaser in connection with other debt or obligations require the information required in subsections (b) through (e), the Purchaser may submit a copy of the information and materials required by such continuing disclosure certificate instead of providing separate statements setting forth the required information.
(b) The Purchaser shall prepare and file with IBank annually as soon as practicable, but in any event not later than two hundred forty (240) days after the close of each Fiscal Year, so long as this Agreement has not been discharged by IBank, an audited financial statement of the Purchaser relating to the System Revenues and Enterprise Fund for the preceding Fiscal Year, prepared by an Independent Accountant; provided, however, that in the event that such audited financial statement is not available by the above-referenced filing date, an unaudited financial statement may be substituted therefore. In the event an unaudited financial statement is submitted, the Purchaser shall file the audited financial statement with IBank as soon as it becomes available. The Purchaser will furnish to IBank such reasonable number of copies of such audited financial statements as may be required by IBank for distribution (at the expense of the Purchaser).
(c) Simultaneously with the delivery of the annual financial statements, the Purchaser shall deliver to IBank a Certificate of the Purchaser stating the following:
(1) The number of System users as of the end of the Fiscal Year;
(2) Calculation of the coverage ratios described in Section 5.06 and a certification that adopted rates and charges comply with the requirements of that section;
(3) Notification of the withdrawal of any System user generating four percent (4%) or more of System Revenues since the last reporting date;
(4) Any significant System facility retirements or expansions planned or undertaken since the last reporting date;
(5) Notification of any Parity Debt or Subordinate Debt incurred since the last reporting date and certification that there has been no default or noncompliance under any obligation ...
Books and Accounts; Financial Statements. The District and the Authority shall keep proper and current itemized records, books, and accounts in which complete and accurate entries will be made of the receipt and use of all amounts of revenue received from any and all sources and such other calculations required by this Agreement, the District Bond Documents, and any applicable law or regulation. The District and Authority shall each prepare, after the close of each fiscal year, a complete financial statement prepared in accordance with generally accepted accounting principles accepted in the United States of America for such year in reasonable detail covering the above information, and if required by statute, certified by a public accountant, and will furnish a copy of such statement to the other Parties within two hundred and ten (210) days after the close of each fiscal year, or upon such earlier date as may be required by the District Bond Documents. No later than sixty (60) days after the end of each fiscal year, the District shall prepare, or cause to be prepared, and delivered to the Town, a report setting forth the amount of Credit PIF Revenues collected by the PIF Collection Agent during the preceding fiscal year and the total amount of Credit PIF Revenue collected by the PIF Collection Agent from the Effective Date through the end of the preceding fiscal year. All books, records and reports (except those allowed or required by applicable law to be kept confidential) in the possession of the Town, the Authority, and the District , including, without limitation, those relating to the Pledged Revenue, Eligible Improvements, Eligible Costs, District Operating Revenue, and District Bonds will at all reasonable times be open to inspection by such accountants or other agents as the respective Parties may from time to time designate.
Books and Accounts; Financial Statements. The Agency will keep, or cause to be kept, proper books of record and accounts, separate from all other records and accounts of the Agency and the City, in which complete and correct entries shall be made of all transactions relating to the Redevelopment Project, the Tax Revenues and the Special Fund. Such books of record and accounts shall at all times during business hours be subject, upon prior written request, to the reasonable inspection of the Authority, the Trustee and the Owners of not less than ten percent (10%) in aggregate principal amount of the Bonds then Outstanding, or their representatives authorized in writing.
Books and Accounts; Financial Statements. (a) LAVWMA shall keep proper books of record and accounts of the Enterprise, separate from all other records and accounts of LAVWMA, in which complete and correct entries shall be made of all transactions relating to the Enterprise. Such books of record and accounts shall at all times during business hours be subject to the inspection of any Member or any such Member’s representative authorized in writing in the manner agreed by the Members and LAVWMA.
(b) LAVWMA shall prepare and submit to each Member annually within one hundred and twenty (120) days after the close of each Fiscal Year:
(1) an audited statement (prepared in accordance with generally accepted accounting principles, as prescribed by the American Institute of Certified Public Accountants or its successor) for the preceding Fiscal Year of: (A) Actual Fixed Costs for such Fiscal Year, and (B) separately for the Joint Use Facilities, for the Sole Use Facilities used by Livermore and for the Dual Use Facilities used by Pleasanton and the District, Actual Variable LAVWMA Maintenance and Operation Costs for such Fiscal Year, and
(2) a detailed statement as to all insurance carried by LAVWMA as of the close of such Fiscal Year, including the names of the insurers which have issued the policies and the amounts thereof and the property or risks covered thereby (including liability risks).
Books and Accounts; Financial Statements. (a) LAVWMA shall keep proper books of record and accounts of the Enterprise, separate from all other records and accounts of LAVWMA, in which complete and correct entries shall be made of all transactions relating to the Enterprise. Such books of record and accounts shall at all times during business hours be subject to the inspection of any Member or any such Member’s representative authorized in writing.
(b) LAVWMA shall prepare and submit to each Member annually within 120 days after the close of each Fiscal Year:
(1) an audited statement (prepared in accordance with generally accepted accounting principles, as prescribed by the American Institute of Certified Public Accountants or its successor) for the preceding Fiscal Year: (A) Actual Fixed Costs for such Fiscal Year, and (B) separately for the Joint Use Facilities, for the Sole Use Facilities used by Livermore and for the Dual Use Facilities used by Pleasanton and the District, Actual Variable LAVWMA Maintenance and Operation Costs for such Fiscal Year, and
(2) a detailed statement as to all insurance carried by LAVWMA as of the close of such Fiscal Year, including the names of the insurers which have issued the policies and the amounts thereof and the property or risks covered thereby (including liability risks).
Books and Accounts; Financial Statements. (a) The District shall keep proper books of record and accounts of the Enterprise and the Debt Service Fund all separate from all other records and accounts, in which complete and correct entries shall be made of all transactions relating to the Enterprise and relating to the funds created by this Installment Purchase Contract. Said books shall, upon prior request, be subject to the inspection by the Bank, or its representatives authorized in writing, upon not less than five (5) Business Days’ prior notice to the District.
(b) The District shall cause the books and accounts of the Enterprise, which shall include a statement of revenues and expenditures and changes in fund balances, a balance sheet and a statement of cash flow, to be audited annually by an independent certified public accountant or firm of certified public accountants, not more than two hundred and seventy (270) days after the close of each Fiscal Year. The District shall send a copy of such report and all related financial statements and notes to the Bank not more than two hundred and seventy (270) days after the close of each Fiscal Year. No later than one month after its adoption, the District shall also send to the Bank a copy of the annual budget of the Enterprise and any amendment or supplement thereto and any other financial information reasonably requested by the Bank.
(c) Not more than two hundred and seventy (270) days after the close of each Fiscal Year, the District shall file with the Bank a certificate of the District stating that the District is not aware of any default or Event of Default hereunder and stating that it is in compliance with the covenants set forth in Section 5.16 relating to the rates and charges for the Enterprise for each Fiscal Year.
Books and Accounts; Financial Statements. (a) The Successor Agency shall keep, or cause to be kept, proper books of record and accounts, separate from all other records and accounts of the Successor Agency and the City, in which complete and correct entries shall be made of all transactions relating to the Redevelopment Project, the Pledged Tax Revenues and the Subordinate Lien Special Fund. Such books of record and accounts shall at all times during business hours be subject to the inspection of the Lender.
(b) The Successor Agency will cause to be provided to the Lender, within two hundred and seventy (270) days after the close of each Fiscal Year so long as the Loan is outstanding, the following: (i) a copy of the Successor Agency’s audited financial statements for such Fiscal Year; provided that if the audited financial statements are not available, the Successor Agency will provide unaudited financial statements within the time set forth above, and will provide audited financial statements when they are available; and (ii) an annual report containing financial and operating data for such Fiscal Year in the following categories (to the extent not included in the Successor Agency’s audited financial statements) (each an “Annual Report”):
(i) aggregate assessed values of the Project Area;
(ii) list of top ten largest property taxpayers within the Project Area;
(iii) information on pending appeals (with amount of value under appeal and requested value, if available) and any successful appeals by such top ten taxpayers;
(iv) the Pledged Tax Revenues;
(v) description of any outstanding indebtedness payable from Tax Revenues and Pledged Tax Revenues during such Fiscal Year; and
(vi) a statement as to whether the County has adopted a xxxxxx plan since the date of the previous Annual Report with respect to distributions of the Redevelopment Property Tax Trust Fund.
(c) The Successor Agency shall also provide the Lender any additional reasonable information that the Lender requests in writing.
