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Rule or any court of final jurisdiction enters judgment that such provisions of the Rule are invalid, but in either case only if and to the extent that the provisions of this sentence would not prevent an underwriter from l~wfully purchasing or selling Bonds in the primary offering of the Bonds. If the Issuer so amends the provisions of this Article, it shall include with any amended financial information or operating data next provided in accordance with Section 13.02 an explanation, in narrative form, of the reasons for the amendment and of the impact of any change in the type of financial information or operating data so provided. ARTICLE XIV SURETY POLICY AND MUNICIPAL BOND INSURANCE Section 14.01. Surety Policy. In order to satisfy in whole or in part the City's obligations with respect to the Reserve Fund provided in this Ordinance, and subject to the provisions of Section 8.05(b) hereof, the City shall purchase from Financial Security Assurance, Inc., as Surety, a Surety Policy for such Fund, in an amount equal to the all or a portion of the amount of the average annual requirement for the payment of principal and interest with respect to the Bonds, it being found and determined hereby that the substitution of a Surety Policy in lieu of depositing cash to the Reserve Fund is cost effective. Section 14.02. Provisions Relatine to Bond Insurance. (a) Additional Definitions. (i) "Insurance Policy" means the insurance policy issued by the Bond Insurer guaranteeing the scheduled payment of principal of and interest on the Bonds when due. (ii) "Insurer" or "Bond Insurer" means Financial Security Assurance Inc., a New York stock insurance company, or any successor thereto or assignee thereof. (b) Applicability of Article. Notwithstanding anything to the contrary set forth in this Ordinance, the provisions of this Article (and Section 3.04(f) to the extent applicable to the Insurer) shall control so long as the Bonds are insured by the Insurer and the Insurer is not in default under the Insurance Policy. (c) Consent of Insurer; Notices. (i) The Insurer shall be deemed to be the sole holder of the Bonds insured by it for the purpose of exercising any voting right or privilege or giving any consent or direction .or taking any other action that the holders of the Bonds insured by it are entitled to take pursuant to of the Ordinance. (ii) No waiver, modification, amendment or supplement to the Ordinance may become effective except upon obtaining the prior written consent of the Insurer. (iii) The prior written consent of the Insurer shall be a condition precedent to the deposit of any credit instrument provided in lieu of a cash deposit into the Reserve Fund. San Marcos WS 2ooSA: Ordinance J 1- J 6-2005 35