Ord 2007-007 - Laserfiche WebLink

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(x) Release, substItutIOn, or sale of property secunng repayment of the CertIficates, and (xi) Ratmg changes (b) The CIty shall notIfy any SID and each NRMSIR, m a tImely manner, of any failure by the CIty to provIde financial mformatIOn or operating data m accordance WIth Section 12 02 of thIS Ordmance by the time reqmred by such SectIOn. SectIOn 1204 LImItatIOns, DIsclaImers, and Amendments (a) The CIty shall be obhgated to observe and perform the covenants specIfied m thIS ArtIcle for so long as, but only for so long as, the CIty remams an "obhgated person" WIth respect to the CertIficates wIthm the meanmg of the Rule, except that the CIty m any event will gIve notIce of any deposIt made m accordance WIth Article XI or Tex. Gov't Code Ann, ch, 1207, as amended, that causes CertIficates no longer to be outstandmg. (b) The provlSlons of thIS ArtIcle are for the sole benefit of the Owners and beneficial owners of the CertIficates, and nothmg m thIS ArtIcle, express or Implied, shall gIve any benefit or any legal or equitable nght, remedy, or claim hereunder to any other person. The CIty undertakes to proVIde only the financial mformatIOn, operatmg data, financIal statements, and notIces WhICh It has expressly agreed to proVIde pursuant to thIS ArtIcle and does not hereby undertake to proVIde any other mformatIOn that may be relevant or matenal to a complete presentatIOn of the CIty'S finanCIal results, condItIon, or prospects or hereby undertake to update any mformatIOn proVIded m accordance WIth this ArtIcle or otherwIse, except as expressly proVIded herem. The CIty does not make any representatIOn or warranty concernmg such mformation or ItS usefulness to a deCISIOn to mvest m or sell CertIficates at any future date Any fihng reqmred by thIS ArtIcle may be made solely WIth a central post office approved for such purposes by the SEC, such as the Texas MUnICIpal AdVISOry Council (the "MAC") as proVIded at htto.//www.dIsclosureusa.org, for submIssIon to the NRMSIRs and SID (WIthout also separately submIttmg such filmgs to the NRMSIRs and SID by some other means) so long as such filmg IS acceptable to the SEC UNDER NO CIRCUMSTANCES SHALL THE CITY BE LIABLE TO THE OWNER OR BENEFICIAL OWNER OF ANY CERTIFICATE OR ANY OTHER PERSON, IN CONTRACT OR TORT, FOR DAMAGES RESULTING IN WHOLE OR IN PART FROM ANY BREACH BY THE CITY, WHETHER NEGLIGENT OR WITHOUT FAULT ON ITS PART, OF ANY COVENANT SPECIFIED IN THIS ARTICLE, BUT EVERY RIGHT AND REMEDY OF ANY SUCH PERSON, IN CONTRACT OR TORT, FOR OR ON ACCOUNT OF ANY SUCH BREACH, NOTWITHSTANDING ANY PROVISION OF THIS ORDINANCE TO THE CONTRARY, SHALL BE LIMITED TO AN ACTION FOR MANDAMUS OR SPECIFIC PERFORMANCE (c) No default by the CIty m observmg or performmg ItS obhgatIOns under thIS ArtIcle shall compnse a breach of or default under the Ordmance for purposes of any other proVISIOn of thIS Ordmance, (d) Nothmg m thIS ArtIcle IS mtended or shall act to dIsclaim, waiver, or otherwIse hmit the dutIes of the CIty under federal state secuntIes laws San Marcos CTRCO 2007 Ordin""ce 32