Page 77 - Burleson FY22 City Budget

ATTACHMENT E - SECURITIES LAW COMPLIANCE AND DISCLOSURE POLICY©

SECTION 3.01 DISCLOSURE OFFICER.

The Issuer shall appoint a Disclosure Officer who shall be responsible for implementing this Policy. The Disclosure Officer will work
with other employees and officials of the Issuer to assist in implementing this Policy. The Disclosure Officer will consult with bond
counsel, legal counsel to the Issuer (including designated disclosure counsel, if any), accountants, municipal advisors, financial
advisors and other outside consultants to the extent necessary to carry out the purpose of this Policy. The Disclosure Officer will
report to the Issuer's governing body as provided in Section 6.01 herein, regarding implementation of this Policy and any
recommended changes or amendments to this Policy.

SECTION 3.02 DUTIES OF DISCLOSURE OFFICER.

(a) General Duties. The Disclosure Officer shall be primarily responsible for ensuring and determining the Issuer's
compliance with this Policy and federal and state securities laws and regulations applicable to the Issuer, including
specifically Rule 15c2-12, and including identifying and remedying any non-compliance with this Policy and such laws
and regulations.

(b) Review of Relevant Documents. The Disclosure Officer will review the following documents, obligations, and disclosure
and reporting requirements of the Issuer in connection with the issuance of Municipal Securities to comply with Article IV
and V of this Policy and in the ordinary course of business of the Issuer:

i. Offering Documents;
ii. Audited and unaudited financial statements, including notes to such statements;

iii. Changes to accounting standards promulgated by GASB and other applicable accounting standards and rules;
iv. Adopted annual budgets and amendments thereto;
v. Continuing Disclosure Undertakings; and
vi. Other relevant documents that reflect the Issuer's financial position and operating data.
The Disclosure Officer shall take reasonable steps to ensure that all Offering Documents are timely provided to the Issuer's
governing body to ensure meaningful review and approval thereof. In addition, the Disclosure Officer shall take reasonable steps
to ensure that for purposes of securities law compliance the Issuer's governing body is generally aware of the other documents
listed above and of the significance of those documents to the Issuer's disclosure obligations.

(c) Solicitation of Relevant Information. In the performance of its duties under this Policy, the Disclosure Officer shall be
responsible for soliciting any relevant information from other employees, officials or departments within the internal
organization of the Issuer, including public statements made by officials of the Issuer that the Disclosure Officer
reasonably believes will reach investors or trading markets generally. The Disclosure Officer is additionally responsible
for obtaining any documentation prepared by an outside source that may be necessary to assist the Disclosure Officer
in carrying out this Policy. The Disclosure Officer shall undertake a thorough review of the form and content of each of
the Issuer's annual filings, and any Event Notice filings, as required pursuant to Article IV and V hereof.

(d) Public Statements Regarding Financial Information. Whenever an officer or employee of the Issuer makes statements
or releases information relating to its finances and other operations of the Issuer to the public that is reasonably expected
to reach investors and the trading markets (including, without limitation, all Event Notices, statements in a comprehensive
annual financial report, and other financial reports and statements of the Issuer), the Disclosure Officer shall be
responsible for ensuring that such statements and Material information are complete, true, and accurate in all material
aspects and available to all investors. The Disclosure Officer will work with other officers of the Issuer to ensure that all
public statements and information released by the Issuer are accurate and are not misleading in all Material aspects.

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