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� °� � o 0 ��b. � CITY of ORON� � ' ti � '�' RESOLUTION OF THE CITY COUNCIL ��kE H�� . NO. �� S �. mandamus. Direct, indirect, consequential and punitive damages shall not be recoverable for any default hereunder. Notwithstanding anything to the contrary contained herein, in no event shall a default under this section constitute a default under the Bonds or under any other provision of this resolution. As used in this section, "Owner" or "Bondowner" means, in respect of a Bond,the registered owner or owners thereof appearing in the bond register maintained by the Registrar or any Beneficial Owner(as hereinafter defined)thereof,if such Beneficial Owner provides to the Registrar evidence of such beneficial ownership in form and substance reasonably satisfactory to the Registrar. As used herein, "Beneficial Owner"�means,in respect of a Bond, any person or entity which(i)has the power, directly or indirectly, to vote or consent with respect to, or to dispose of ownership of, such Bond (including persons or entities holding Bonds through nominees, depositories or other intermediaries), or(ii) is treated as the owner of the Bond for federal income tax purposes. (c)Information To Be Disclosed. The City will provide, either directly or indirectly • through an agent designated by the City, the following information at the following times in an appropriate manner: � (1)At least annually to the state information depository then designated or operated � by the State of Minnesota(the "State Depository"), if any, or, if no State Depository then exists,to any person or entity upon request, the information (the "Disclosure Information") of the type contained in the Official Statement under the following captions: "Current Property Valuations," "Larger Taxpayers," "Direct Debt," "Overlapping Debt," "Debt Ratios," "Tax Levies and Collections," "Tax Capacity Rates," "Larger Employers" and"Employment/Unemployment," which information may be unaudited and which,for fmancial statement information, shall be for the most recent fiscal year of the City(if in response to a request,the most recent fiscal year ending not less than 365 days before the date of the request), and,for other such information,the information most recently compiled by the City on a customary basis and publicly available under applicable data privacy or other laws. � � The City Clerk is hereby designated as the proper recipient of requests for Disclosure Information. Any or all of the Disclosure Information may be incorporated by reference, if it is updated as required hereby, from other documents,�including official statements,which have been � Page 4 of 7