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required to employ from time to time pursuant to state law or regulation, and (2) audited, if the City <br />commissions an audit of such statements and the audit is completed within the period during which <br />they must be provided. If the audit of such financial statements is not complete within such period, <br />then the City shall provide unaudited financial statements within such period, and audited financial <br />statements for the applicable fiscal year to the MSRB, when and if the audit report on such <br />statements become available. <br />If the City changes the fiscal year, the City will notify the MSRB of the change (and of the <br />date of the new fiscal year end) prior to the next date by which the City otherwise would be required <br />to provide financial information and operating data pursuant to this Section. <br />The financial information and operating data to be provided pursuant to this subsection may <br />be set forth in full in one or more documents or may be included by specific reference to any <br />document that is available to the public on the MSRB's internet web site or filed with the SEC. All <br />documents provided to the MSRB pursuant to this subsection shall be accompanied by identifying <br />information as prescribed by the MSRB. <br />(b) Certain Event Notices. The City shall notify the MSRB, in an electronic format as <br />prescribed by the MSRB, in a timely manner not in excess of ten business days after the occurrence <br />of the event, of any of the following events with respect to the Bonds: <br />laws; <br />A. Principal and interest payment delinquencies; <br />B. Non-payment related defaults, if material within the meaning of the federal securities <br />C. Unscheduled draws on debt service reserves reflecting financial difficulties; <br />D. Unscheduled draws on credit enhancements reflecting financial difficulties; <br />E. Substitution of credit or liquidity providers, or their failure to perform; <br />F. Adverse tax opinions, the issuance by the Internal Revenue Service of proposed or <br />final determinations of taxability, Notices of Proposed Issue (IRS Form 5701—TEB) or other material <br />notices or determinations with respect to the tax status of the Bonds, or other events affecting the tax <br />status of the Bonds; <br />G. Modifications to rights of holders of the Bonds, if material within the meaning of the <br />federal securities laws; <br />H. Bond calls, if material within the meaning of the federal securities laws; <br />I. Defeasances; <br />San Marcos GORB - Delegated: Ordinance 27 <br />