Laserfiche WebLink
• Unscheduled draws on debt service reserves reflecting financial <br />difficulties; <br />• Unscheduled draws on credit enhancements reflecting financial <br />difficulties; <br />• Substitution of credit or liquidity providers, or their failure to perform; <br />• Adverse tax opinions or events affecting the tax-exempt status of the <br />Bonds; <br />• Modifications to rights of Bondholders; <br />• Bond calls; <br />• Defeasances; <br />e Release, substitution or sale of property securing repayment of the Bonds; <br />and <br />• Rating changes. <br />Solely for purposes of disclosure, and not intending to modify this undertaking, the City <br />advises that there is no property securing repayment of the Bonds, and there is no debt service <br />reserve fund or account for the Bonds. <br />(d) Notification Upon Failure to Provide Financial Data. The City agrees to <br />provide or cause to be provided, in a timely manner, to each NRMSIR and to the SID, if any, <br />notice of its failure to provide the annual financial information described in subsection (b) above <br />on or prior to the date set forth in subsection (b) above. <br />(e) Termination/Modification. The City's obligations to provide annual <br />financial information and notices of material events shall terminate upon the legal defeasance, <br />prior redemption or payment in full of all of the Bonds. This section, or any provision hereof, <br />-49- P:\CMW\CMW6WH 09/06/05 <br />