Ordinance 3405-14 - Laserfiche WebLink

Facility Date; provided, however, that in addition to the information required by Section 3.10(d), such notice shall state that such mandatory tender of the Bonds will not occur if on or prior to the proposed Liquidity Facility Date, the Tender Agent does not receive such Liquidity Facility, together with the Supporting Liquidity Facility Documents (as defined in paragraph (e) below). If, by reason of the conditions to such mandatory tender of the Bonds (as stated in such notice), there is no mandatory tender of such Bonds on the proposed Liquidity Facility Date, (1) the Tender Agent shall so notify the Bond Registrar, (2) the Bond Registrar shall so notify the Registered Owners of such Bonds (at their addresses as they appear on the Bond Register as of the date of such notice) by Electronic Notice, confirmed by first class mail, and (3) the Tender Agent shall return to their Registered Owners any such Bonds tendered to the Tender Agent in connection with such mandatory tender of such Bonds. (d) Termination and Expiration. The City may elect at any time (1) to permit a Liquidity Facility to expire without delivering a new Liquidity Facility or (2) to terminate a Liquidity Facility prior to its expiration. (e) Supporting Liquidity Facility Documents. In connection with the delivery of a Liquidity Facility, the City shall deliver, or shall cause to be delivered, the following documents (the "Supporting Liquidity Facility Documents"): (1) written evidence from each Rating Agency then maintaining a rating on the Bonds of the rating to be assigned by such Rating Agency to the Bonds following the delivery of the Liquidity Facility with respect to such Bonds; (2) a written opinion of counsel, addressed to the Bond Registrar and the Tender Agent, to the effect that the Liquidity Facility is the legal, valid and binding obligation of the Liquidity Facility Provider, enforceable against such issuer or issuers in accordance with its -82- P 120287_C M�M20287 AMT 10/14/14