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<br />(b) If the CIty changes Its fiscal year, It WIll notify each NRMSIR and any SID of the change (and <br />of the date of the new fiscal year end) prior to the next day by whIch the City otherwIse would be required to <br />provIde fmanclal Information and operatmg data pursuant to this SectIOn. <br /> <br />(c) The financIal mformation and operating data to be provided pursuant to this SectIOn may be <br />set forth In full In one or more documents or may be Included by specific reference to any document (includIng <br />an officIal statement or other offenng document, If It IS available from the MSRB) that theretofore has been <br />provIded to each NRMSIR and any SID or filed wIth the SEC <br /> <br />SectIOn 12 03 Material Event NotIces <br /> <br />(a) The City shall notIfy any SID and each NRMSIR, 10 a tImely manner, of any of the following <br />events with respect to the CertIficates, If such event is matenal wlthm the meanmg of the federal secunties <br />laws <br /> <br />(i) PnncIpal and Interest payment delinquencIes, <br /> <br />(ii) Non-payment related defaults, <br /> <br />(ill) Unscheduled draws on debt service reserves reflecting financial difficultIes, <br /> <br />(iv) Unscheduled draws on credIt enhancements reflecting financial difficulties, <br /> <br />(v) Substitution of credIt or liqUidIty providers, or theu failure to perform, <br /> <br />(vi) ModIfications to nghts of holders of the CertIficates, <br /> <br />(vii) CertIficate calls, <br /> <br />(vui) Defeasances, <br /> <br />(ix) Release, substItutIOn, or sale of property secunng repayment of the CertIficates; and <br /> <br />(x) RatIng changes <br /> <br />(b) The CIty shall notIfy any SID and each NRMSIR, 10 a tImely manner, of any failure by the <br />CIty to proVIde financIal mformatIOn or operatmg data In accordance WIth SectIOn 12 02 of thIs OrdInance by <br />the time required by such SectIOn. <br /> <br />SectIOn 1204 LimitatIOns. DIsclaImers, and Amendments <br /> <br />(a) The CIty shall be obligated to observe and perform the covenants specified in thIS ArtIcle for <br />so long as, but only for so long as, the CIty remaInS an "obligated person" wIth respect to the CertifIcates <br />wIthm the meanmg of the Rule, except that the CIty In any event will give notIce of any depOSIt made In <br />accordance WIth Article XI or Tex. Gov't Code Ann. ch. 1207, as alTlended, that causes CertIficates no longer <br />to be outstandIng. <br /> <br />San Marcos CTRCO 2007A Ordinance <br /> <br />29 <br />