5.1. ERMUSR 06-14-2016 - Laserfiche WebLink

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"Commission"means the Elk River Municipal Utilities Commission created by the City to exercise exclusive jurisdiction, control, and management of the municipal light,power, and electric operations of the City. "Disclosure Certificate"means this Continuing Disclosure Certificate. "Disclosure Covenants"means the continuing disclosure obligations of the City and the Commission under this Continuing Disclosure Certificate. "Disclosure Information" means the financial information and operating data referred to in Section 3(a)of this Continuing Disclosure Certificate. "EMMA" means the Electronic Municipal Market Access system operated by the MSRB and designated as a nationally recognized municipal securities information repository and the exclusive portal for complying with the continuing disclosure requirements of the Rule. "Final Official Statement" means the deemed Final Official Statement dated ,2016, which constitutes the final official statement delivered in connection with the Bonds,which is available from the MSRB. "Fiscal Year"means the fiscal year of the Commission. "Holder"means the person in whose name a Bond is registered or a beneficial owner of such a Bond. "Material Event"means any of the events listed in Section 5(a)of this Disclosure Certificate. "MSRB" means the Municipal Securities Rulemaking Board located at 1300 I Street NW, Suite 1000,Washington,DC 20005. "Participating Underwriter" means any of the original underwriter(s) of the Bonds (including the Purchaser)required to comply with the Rule in connection with the offering of the Bonds. "Purchaser"means "Repository"means EMMA,or any successor thereto designated by the SEC. "Rule"means SEC Rule 15c2-12(b)(5)promulgated by the SEC under the Securities Exchange Act of 1934,as the same may be amended from time to time,and including written interpretations thereof by the SEC. "SEC"means Securities and Exchange Commission,and any successor thereto. Section 3. Provision of Annual Financial Information and Audited Financial Statements. (a) On or before twelve (12) months after the end of each Fiscal Year of the Commission, commencing with the Fiscal Year ending December 31, 2015, the Commission shall provide to the Repository, on behalf of itself and the City, the following financial information and operating data (the "Disclosure Information"): (i) The Audited Financial Statements of the Commission for such Fiscal Year,certified as to accuracy and completeness in all material respects by the Finance and Office Manager of the Commission(the"Finance and Office Manager"); II-9 165