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become due and payable, the Paying Agent/Registrar shall perform the services of Paying <br /> Agent/Registrar for such Defeased Certificates the same as if they had not been defeased, and the <br /> City shall make proper arrangements to provide and pay for such services as required by this <br /> Ordinance. <br /> (d) Notwithstanding anything elsewhere in this Ordinance, if money or Defeasance <br /> Securities have been deposited or set aside with the Paying Agent/Registrar or an eligible trust <br /> company or commercial bank pursuant to this Section for the payment of Certificates and such <br /> Certificates shall not have in fact been actually paid in full,no amendment of the provisions of this <br /> Section shall be made without the consent of the registered owner of each Certificate affected <br /> thereby. <br /> (e) Notwithstanding the provisions of subsection(a)immediately above,to the extent that, <br /> upon the defeasance of any Defeased Certificate to be paid at its maturity,the City retains the right <br /> under Texas law to later call that Defeased Certificate for redemption in accordance with the <br /> provisions of this Ordinance, the City may call such Defeased Certificate for redemption upon <br /> complying with the provisions of Texas law and upon the satisfaction of the provisions of subsection <br /> (a) immediately above with respect to such Defeased Certificate as though it was being defeased at <br /> the time of the exercise of the option to redeem the Defeased Certificate and the effect of the <br /> redemption is taken into account in determining the sufficiency of the provisions made for the <br /> payment of the Defeased Certificate. <br /> ARTICLE XII <br /> CONTINUING DISCLOSURE OBLIGATION <br /> 12.01 Annual Reports. <br /> The City shall provide annually to the MSRB, in an electronic format as prescribed by the <br /> MSRB, within the period stated on Exhibit "A", hereto, financial information and operating data <br /> with respect to the City of the general type included in the final Official Statement authorized by <br /> Section 7.02(b) of this Ordinance, being the information described in Exhibit "A" hereto. Any <br /> financial statements to be so provided shall be (1) prepared in accordance with the accounting <br /> principles described in Exhibit "A" hereto, or such other accounting principles as the City may be <br /> 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 its fiscal year, it will notify the MSRB of the change (and of the date of <br /> the new fiscal year end) prior to the next date by which the City otherwise would be required to <br /> provide financial information and operating data pursuant to this Section. <br /> The financial information and operating data to be provided pursuant to this Section may be <br /> set forth in full in one or more documents or may be included by specific reference to any document <br /> San Marcos CTRCO 2017:Ordinance 34 <br />