Ord 2007-008 - Laserfiche WebLink

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(b) The provIsiOns of thIS ArtIcle are for the sole benefit of the Owners and beneficial owners of the Certificates, and noth1Og 10 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 1OformatlOn, operat1Og 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 1Oformation that may be relevant or material to a complete presentatIOn of the CIty'S financIal results, condItIOn, or prospects or hereby undertake to update any 1OformatIOn provIded 10 accordance WIth thIs ArtIcle or otherwIse, except as expressly provIded herem, The CIty does not make any representation or warranty concern1Og such mformatlOn or its usefulness to a decIsIOn to invest 10 or sell CertIficates at any future date Any filing requued by thIS ArtIcle may be made solely WIth a central post office approved for such purposes by the SEC, such as the Texas Mumclpal AdVIsory Council (the "MAC") as provIded at http.//www.dIsclosureusa.org. for submISSIOn to the NRMSIRs and SID (wIthout also separately submlttmg such filmgs to the NRMSIRs and SID by some other means) so long as such filing 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 ORIN 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 10 observmg or perform1Og ItS obligatIons under thIS ArtIcle shall compnse a breach of or default under the Ordmance for purposes of any other prOVlSlon of thIS Ordinance (d) N oth1Og 10 thIS ArtIcle IS mtended or shall act to dIsclaIm, waIver, or otherwIse limIt the dutIes of the CIty under federal state securitIes laws (e) The proVIsions of thIS ArtIcle may be amended by the CIty from tIme to tIme to adapt to changed CIrcumstances that arise from a change In legal reqUirements, a change 10 law, or a change 10 the IdentIty, nature, status, or type of operatIOns of the City, but only If (1) the provISlons of thIs ArtIcle, as so alTlended, would have permItted an underwnter to purchase or sell CertIficates In the pnmary offenng of the Certificates 10 compliance With the Rule, takmg Into account any alTlendments or mterpretatIOns of the Rule to the date of such amendment, as well as such changed cIrcumstances, and (2) eIther (a) the Owners of a maJonty 10 aggregate pnnclpal amount (or any greater alTlount reqUired by any other proVISIOn of thIS Ordmance that authonzes such an amendment) of the Outstandmg CertIficates consent to such alTlendment or (b) a person that IS unaffiliated WIth the CIty (such as natIOnally recogmzed bond counsel) determ10es that such alTlendment wIll not matenally impaIr the Interests of the Owners and beneficIal owners of the Certificates The CIty may also repeal or alTlend the proVIsions OfthIS ArtIcle If the SEC alTlends or repeals the applicable provISlons of the Rule or any court of final JunsdIctIon enters Judgment that such provlSlons of the Rule are 1Ovalid, but 10 either case only If and to the extent that the prOVISIOns of thIS sentence would not prevent an underwnter from lawfully purchas10g or sell10g CertIficates in the pnmary offenng of the CertIficates, If the City so alTlends the prOVISIOns of thiS ArtIcle, It shall mclude With any alTlended finanCIal 1OformatIOn or operatIng data next prOVIded 10 accordance WIth SectIOn 12 02 an explanatIOn, In narratIve form, of the reasons San Marcos CTRCO 2007A. Ordinance 30