Ord 2023-042 authorizing the issuance and sale of an amount not to exceed $1,120,000.00 of Combination Tax and Surplus Revenue Certificates of Obligation, Series 2023

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audited financial statements for the applicable fiscal year to the MSRB,when and if the audit report on such statements become available. If the City changes the fiscal year,the City will notify the MSRB of the change (and of the date of the new fiscal year end)prior to the next date by which the City otherwise would be required to provide financial information and operating data pursuant to this Section. The financial information and operating data to be provided pursuant to this subsection is described in Exhibit"C" and may be set forth in full in one or more documents or may be included by specific reference to any document that is available to the public on the MSRB's internet web site or filed with the SEC. All documents provided to the MSRB pursuant to this subsection shall be accompanied by identifying information as prescribed by the MSRB. (c) Certain Event Notices. The City shall notify the MSRB, in an electronic format as prescribed by the MSRB, in a timely manner not in excess of ten business days after the occurrence of the event, of any of the following events with respect to the Certificates: A. Principal and interest payment delinquencies; B. Non-payment related defaults, if material within the meaning of the federal securities laws; C. Unscheduled draws on debt service reserves reflecting financial difficulties; D. Unscheduled draws on credit enhancements reflecting financial difficulties; E. Substitution of credit or liquidity providers, or their failure to perform; F. Adverse tax opinions,the issuance by the Internal Revenue Service of proposed or final determinations of taxability, Notices of Proposed Issue (IRS Form 5701 BTEB) or other material notices or determinations with respect to the tax status of the Certificates, or other events affecting the tax status of the Certificates; G. Modifications to rights of holders of the Certificates,if material within the meaning of the federal securities laws; H. Bond calls, if material within the meaning of the federal securities laws; 1. Defeasances; J. Release, substitution, or sale of property securing repayment of the Certificates, if material within the meaning of the federal securities laws; K. Rating changes; L. Bankruptcy, insolvency, receivership or similar event of the City; 23 SAN MARCOS(TWDB)CTRCO 2023&2023A:Ordinance($1,120,000)