Common use of Content of Annual Reports Clause in Contracts

Content of Annual Reports. The County’s Annual Report shall contain or include by reference the following: (a) The audited financial statements of the County for the prior fiscal year, prepared in accordance with generally accepted principles as promulgated to apply to governmental entities from time to time by the Governmental Accounting Standards Board (or if not in conformity, to be accompanied by a qualitative discussion of the differences in the accounting principles and the impact of the change in the accounting principles on the presentation of the financial information). If the County’s audited financial statements are not available by the time the Annual Report is required to be filed pursuant to Section 3(a), the Annual Report shall contain unaudited financial statements in a format similar to the financial statements contained in the final Official Statement, and the audited financial statements shall be filed in the same manner as the Annual Report when they become available. (b) A table updating the historical data for the prior fiscal year contained in the table in the Official Statement under the heading “REVENUES DERIVED FROM HOSPITALITY TAXES – Historical and Projected Collections.” Such information is expected to be available on or before January 31 of each year for the fiscal year ending on the preceding June 30 commencing with the fiscal year ending June 30, 2017, and will be made available to the National Repositories. The annual financial information will be filed with respect to the fiscal year of the County, and each fiscal year thereafter. Any or all of the items listed above may be included by specific reference to other documents, including official statements of debt issues of the County or related public entities, which have been submitted to each of the Repositories or the Securities and Exchange Commission. If the document including by reference is a final official statement, it must be available from the Municipal Securities Rulemaking Board. The County shall clearly identify each such other document so included by reference. The County may discharge its undertaking described above by transmitting the documents referred to above to any entity and by any method authorized by the Securities and Exchange Commission.

Content of Annual Reports. The County’s Annual Report shall contain or include by reference the following: (a) The audited financial statements of the County for the prior fiscal year, prepared in accordance with generally accepted principles as promulgated to apply to governmental entities from time to time by the Governmental Accounting Standards Board (or if not in conformity, to be accompanied by a qualitative discussion of the differences in the accounting principles and the impact of the change in the accounting principles on the presentation of the financial information). If the County’s audited financial statements are not available by the time the Annual Report is required to be filed pursuant to Section 3(a), the Annual Report shall contain unaudited financial statements in a format similar to the financial statements contained in the final Official Statement, and the audited financial statements shall be filed in the same manner as the Annual Report when they become available. (b) A table updating the historical data subsection “Hospitality Tax Receipts” in the Official Statement for the prior fiscal year contained in year. (c) A table updating the table subsection “Historical Debt Service Coverage” in the Official Statement under for the heading “REVENUES DERIVED FROM HOSPITALITY TAXES – Historical and Projected Collections.” prior fiscal year. Such information is expected to be available on or before January 31 of each year for the fiscal year ending on the preceding June 30 commencing with the fiscal year ending June 30, 20172014, and will be made available to the National Repositories. The annual financial information will be filed with respect to the fiscal year of the CountyCity, and each fiscal year thereafter. Any or all of the items listed above may be included by specific reference to other documents, including official statements of debt issues of the County or related public entities, which have been submitted to each of the Repositories or the Securities and Exchange Commission. If the document including by reference is a final official statement, it must be available from the Municipal Securities Rulemaking Board. The County shall clearly identify each such other document so included by reference. The County may discharge its undertaking described above by transmitting the documents referred to above to any entity and by any method authorized by the Securities and Exchange Commission.