Cleveland Clinic Health System Obligated Group - FMSbonds.com

and bond retirement or other special funds of political subdivisions and taxing districts of the State, thecommissioners of the sinking fund of the State, the industrial commission, the State teachers retirement system, thepublic employees retirement system, the public school employees retirement system, and the police and firemen’sdisability and pension fund, notwithstanding any other provisions of the Ohio Revised Code with respect to thenature of lawful investments by them. The Series 2008A Bonds will also be acceptable as security for the deposit ofpublic moneys.SPECIAL OBLIGATIONSNone of the assets, moneys or faith and credit nor the taxing power of the Commission or the State ofOhio nor any political subdivision thereof is pledged to the payment of debt service of the Series 2008ABonds. The Series 2008A Bonds are not general obligations, debt or bonded indebtedness of the Commissionor of the State of Ohio or any political subdivision thereof, and the holder of the Series 2008A Bonds shall notbe given the right, and have no right, to have excise, ad valorem or other taxes levied by the Commission orthe State of Ohio or any political subdivision thereof for the payment of debt service on the Series 2008ABonds or any incidental costs related thereto, or any right to any revenues of the Commission other than asdescribed herein for any such payment or costs.The Obligated GroupCONTINUING DISCLOSUREPursuant to an Amended and Restated Master Continuing Disclosure Agreement (the “Master ContinuingDisclosure Agreement”) with DAC (the “Dissemination Agent”), the Cleveland Clinic, as Obligated Issuers’Representative, has agreed that either the Cleveland Clinic or its successor as Obligated Issuers’ Representative willprovide to the Dissemination Agent certain annual audited financial statements (the “Audited Financial Statements”)and certain annual financial information and operating data (“Financial Information and Operating Data”) for eachof the Obligated Issuers’ fiscal years in accordance with the requirements of Rule 15c2-12 (the “Rule”) of the SECunder the Securities Exchange Act of 1934 and certain unaudited quarterly financial statements. The AuditedFinancial Statements will consist of the consolidated financial statements of the Cleveland Clinic and its controlledaffiliated entities, including those Persons which were Obligated Issuers during the Fiscal Year reported in suchfinancial statements, which have been examined by independent certified public accountants in accordance withgenerally accepted accounting principles in the United States of America and including as a part thereof,consolidating statements or schedules prepared in accordance with generally accepted accounting principles in theUnited States of America and covering the Obligated Group. The Audited Financial Statements are required to beprepared in accordance with generally accepted accounting principles in the United States of America on acomparative basis for the two Fiscal Years immediately preceding the date of the Annual Report (defined below)containing the same. The Financial Information and Operating Data will be provided with respect to those personswho were Obligated Issuers during the fiscal years to which the Financial Information and Operating Data relate andthe Financial Information and Operating Data will initially consist of the following:(1) The table herein under the caption “DEBT SERVICE COVERAGE”;(2) The information in APPENDIX A hereto under the following subheadings under the heading“PART II. THE OBLIGATED GROUP”:• A. THE CLEVELAND CLINIC – The Clinic – Clinical Services; – The Clinic –Regional Medical Practice; and – Research and Education – Clinical Research;• E. UTILIZATION;• M. PAYOR MIX, MANAGED CARE AND COMMERCIAL INSURANCEARRANGEMENTS – Payor Mix;(3) The Table in APPENDIX A hereto under the heading “PART IV. MANAGEMENT’SDISCUSSION AND ANALYSIS OF RESULTS OF HEALTH SYSTEM OPERATIONS AND60