Laserfiche WebLink
presentation of the City's financial results, condition, or prospects or hereby undertake to update <br />any information provided in accordance with this Section or otherwise, except as expressly <br />provided herein. The City does not make any representation or warranty concerning such <br />information or its usefulness to a decision to invest in or sell Bonds at any future date. <br />UNDER NO CIRCUMSTANCES SHALL THE CITY BE LIABLE TO THE HOLDER <br />OR BENEFICIAL OWNER OF ANY CERTIFICATE OR ANY OTHER PERSON, IN <br />CONTRACT OR TORT, FOR DAMAGES RESULTING IN WHOLE OR IN PART FROM <br />ANY BREACH BY THE CITY, WHETHER NEGLIGENT OR WITHOUT FAULT ON ITS <br />PART, OF ANY COVENANT SPECIFIED IN THIS SECTION, BUT EVERY RIGHT AND <br />REMEDY OF ANY SUCH PERSON, IN CONTRACT OR TORT, FOR OR ON ACCOUNT <br />OF ANY SUCH BREACH SHALL BE LIMITED TO AN ACTION FOR MANDAMUS OR <br />SPECIFIC PERFORMANCE. <br />No default by the City in observing or performing its obligations under this Section shall <br />comprise a breach of or default under this Ordinance for purposes of any other provision of this <br />Ordinance. <br />Should the Rule be amended to obligate the City to make filings with or provide notices <br />to entities other than the MSRB, the City hereby agrees to undertake such obligation with respect <br />to the Bonds in accordance with the Rule as amended. <br />Nothing in this Section is intended or shall act to disclaim, waive, or otherwise limit the <br />duties of the City under federal and state securities laws. <br />The provisions of this Section may be amended by the City from time to time to adapt to <br />changed circumstances that arise from a change in legal requirements, a change in law, or a <br />change in the identity, nature, status, or type of operations of the City, but only if (1) the <br />provisions of this Section, as so amended, would have permitted an underwriter to purchase or <br />sell Bonds in the primary offering of the Bonds in compliance with the Rule, taking into account <br />any amendments or interpretations of the Rule since such offering as well as such changed <br />circumstances and (2) either (a) the holders of a majority in aggregate principal amount (or any <br />greater amount required by any other provision of this Ordinance that authorizes such an <br />amendment) of the outstanding Bonds consents to such amendment or (b) a person that is <br />unaffiliated with the City (such as nationally recognized bond counsel) determines that such <br />amendment will not materially impair the interest of the holders and beneficial owners of the <br />Bonds. If the City so amends the provisions of this Section, it shall include with any amended <br />financial information or operating data next provided in accordance with paragraph (a) of this <br />Section an explanation, in narrative form, of the reason for the amendment and of the impact of <br />any change in the type of financial information or operating data so provided. The City may also <br />amend or repeal the provisions of this continuing disclosure agreement if the SEC amends or <br />repeals the applicable provision of the Rule or a court of final jurisdiction enters judgment that <br />such provisions of the Rule are invalid, but only if and to the extent that the provisions of this <br />SANMARCOS/W W W SRev2017A: Ordinance 42 <br />