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(iv) with respect to Burbank (as defined in Section 2(b) hereof), the audited financial <br />statements of Burbank's Electric System for its most recent fiscal year, prepared in accordance <br />with generally accepted accounting principles as promulgated to apply to governmental entities <br />and public utilities, as appropriate, from time to time (or such other accounting principles as may <br />be applicable to Burbank in the future pursuant to applicable law); <br />(v) with respect to Glendale (as defined in Section 2(b) hereof), the audited fjnancial <br />statements of Glendale's Electric System for its most recent fiscal year, prepared in accordance <br />with generally accepted accounting principles as promulgated to apply to governmental entities <br />from time to time (or such other accounting principles as may be applicable to Glendale in the <br />future pursuant to applicable law); and <br />(vi) with respect to Pasadena (as defined in Section 2(b) hereof), the audited financial <br />statements of Pasadena's Electric System for its most recent fiscal year, prepared in accordance <br />with generally accepted accounting principles as promulgated to apply to governmental entities <br />from time to time (or such other accounting principles as may be applicable to Pasadena in the <br />future pursuant to applicable law). <br />"Beneficial Owner" shall mean any person holding a beneficial ownership interest in 2004 Bonds <br />through nominees or depositories (including any person holding such interest through the book-entry-only <br />system of The Depository Trust Company), together with any other person who is intended to be a <br />beneficiary of this Disclosure Resolution under the Rule. <br />"Disclosure Resolution" shall mean this resolution, as the same may be amended or supplemented <br />from time to time in accordance with the provisions hereof. <br />"Dissemination Agent" shall mean any person or entity appointed by SCPPA and which has <br />entered into a written agreement with SCPPA pursuant to which such person or entity agrees to perform <br />the duties and obligations of Dissemination Agent under this Disclosure Resolution. <br />"Final Official Statement" shall mean the Official Stitement of SCPPA relating to the 2004 <br />Bonds, as amended, supplemented or updated. <br />"Listed Events" shall mean any of the events listed in Scction 5(a) of this Disclosure Resolution. <br />"MSRB" shall mean the Municipal Securities Rulemaking Board established in accordance with <br />the provisions of Section 15B(b)(l) of the Securities Exchange Act of 1934. <br />"National Repository" shall mean any nalionally recognized municipal securities information <br />repository within the ~neming of the Rule. The National Repositories approved by the SEC as of the date <br />of adoption of this Disclosure Resolution are set forth in Exhibit A to this Disclosure Resolution. <br />"Parlicipating Underwriter" shall mean any of the initial purchaser or purchasers of the 2004 <br />Bonds required to comply with the Rule in connection with the offering of the 2004 Bonds. <br />"Repository" shall mean each National Repository and each State Repository. <br />"Rule" shall mean Rule 1Sc2-12 adopted by the SEC under the Securities Exchange Act of 1934, <br />as the same may be amended from time to time, together with all interpretive guidances or other official <br />interpretations or explanations thereof that are promulgated by the SEC. <br />45419302.3 (MP CD Resol.)