Ord 2009-034 - Laserfiche WebLink

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(vi) Adverse tax opinions or events affecting the tax-exempt status of the Certificates; (vii) Modifications to rights of holders of the Certificates; (viii) Certificate calls; (ix) Defeasances; (x) Release, substitution, or sale of property securing repayment of the Certificates; and (xi) Rating changes. (b) The City shall notify any SID and each NRMSIR, in a timely manner, of any failure by the City to provide financial information or operating data in accordance with Section 12.02 of this Ordinance by the time required by such Section. Section 12.04. Limitations, Disclaimers, and Amendments. (a) The City shall be obligated to observe and perform the covenants specified in this Article for so long as, but only for so long as, the City remains an "obligated person" with respect to the Certificates within the meaning of the Rule, except that the City in any event will give notice of any deposit made in accordance with Article XI or Tex. Gov't Code Ann. ch. 1207, as amended, that causes Certificates no longer to be outstanding. (b) The provisions of this Article are for the sole benefit of the Owners and beneficial owners ofthe Certificates, and nothing in this Article, express or implied, shall give any benefit or any legal or equitable right, remedy, or claim hereunder to any other person. The City undertakes to provide only the financial information, operating 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 information 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 information provided in accordance with this Article or otherwise, except as expressly provided herein. The City does not make any representation or warranty concerning such information or its usefulness to a decision to invest in or sell Certificates at any future date. Any filing required 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 http://www.disclosureusa.org, for submission to the NRMSIRs and SID (without also separately submitting such filings 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 San Marcos CTRCO 2009: Ordinance 35