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(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 <br />that, upon the defeasance of any Defeased Certificate to be paid at its maturity, the City retains the <br />right 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 <br />subsection (a) immediately above with respect to such Defeased Certificate as though it was being <br />defeased at the time of the exercise of the option to redeem the Defeased Certificate and the effect <br />of the 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 />that is available to the public on the MSRB's internet web site or filed with the SEC. All documents <br />provided to the MSRB pursuant to this Section shall be accompanied by identifying information as <br />prescribed by the MSRB. <br />38 <br />San Marcos CTRCO 2021A: Ordinance <br /> <br />