Ordinance 2311-98 - Laserfiche WebLink

• Substitution of credit or liquidity providers, or their failure to perform; • Adverse tax opinions or events affecting the tax-exempt status of the Bonds; • Modifications to the rights of Bond owners; • Bond calls (optional, contingent or unscheduled Bond calls other than scheduled sinking fund redemptions for which notice is given pursuant to Exchange Act Release 34-23856); • Defeasances; • Release, substitution or sale of property securing repayment of the Bonds; and • Rating changes. Solely for purposes of disclosure, and not intending to modify this undertaking, the City advises that no debt service reserves or property secure payment of the Bonds. (d) Notification Upon Failure to Provide Financial Data. The City agrees to provide or cause to be provided, in a timely manner,to each NRMSIR or to the MSRB and to the SID, if any, notice of its failure to provide the annual financial information described in subsection(b) above on or prior to the date set forth in subsection(b) above. (e) Termination/Modification. The City's obligations to provide annual financial information and notices of material events shall terminate upon the legal defeasance, prior redemption or payment in full of all of the Bonds. Any provision of this section shall be null and void if the City (1) obtains an opinion of nationally recognized bond counsel to the effect that the portion of the Rule that requires that provision is invalid, has been repealed -24- scot B.Doc