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Section 12. COVENANTS REGARDING TAX EXEMPTION OF INTEREST <br />ON THE BOND ..................... .............................22 <br />(a) Covenants ............................. .............................22 <br />(b) Rebate Fund ........................... .............................24 <br />(c) Proceeds .............................. .............................24 <br />(d) Disposition of Project ................. ............................... 25 <br />Section 13. APPROVAL OF OFFERING DOCUMENTS, PAYING <br />AGENT /REGISTRAR AGREEMENT AND ESCROW AGREEMENT ..... 25 <br />Section 14. INSURANCE PROVISIONS ........ ............................... 26 <br />Section 15. TAXABLE BONDS ............... ............................... 26 <br />Section 16. CONTINUING DISCLOSURE UNDERTAKING ....................... 26 <br />(a) Annual Reports ........................ .............................26 <br />(b) Certain Event Notices .................. ............................... 27 <br />(c) Limitations, Disclaimers, and Amendments . ............................... 28 <br />Section 17. AMENDMENT OF ORDINANCE .... ............................... 29 <br />Section 18. REMEDIES IN EVENT OF DEFAULT ............................... 31 <br />Section 19. NO RECOURSE AGAINST CITY OFFICIALS ........................ 31 <br />Section 20. FURTHER ACTIONS .............. ............................... 31 <br />Section 21. PERFECTION .................... ............................... 32 <br />Section 22. INTERPRETATIONS .............. ............................... 32 <br />Section 23. INCONSISTENT PROVISIONS ...... ............................... 32 <br />Section 24. INTERESTED PARTIES ........... ............................... 32 <br />Section 25. SEVERABILITY .................. ............................... 33 <br />Section 26. FUNDS AND ACCOUNTS .......... ............................... 33 <br />Section 27. CREDIT AGREEMENT ............ ............................... 33 <br />Section 28. REPEALER ...................... ............................... 33 <br />San Marcos GORB 2014 - Delegated: Ordinance ii <br />