Laserfiche WebLink
(8) Bond calls, if material, and tender offers; <br /> (9) Defeasances; <br /> (10) Release, substitution, or sale of property securing repayment of the Bonds, if <br /> material; <br /> (11) Rating changes; <br /> (12) Bankruptcy, insolvency, receivership, or similar event of the City; <br /> (13) The consummation of a merger, consolidation, or acquisition involving the City or <br /> the sale of all or substantially all of the assets of the City, other than in the ordinary <br /> course of business,the entry into a definitive agreement to undertake such an action <br /> or the termination of a definitive agreement relating to any such actions, other than <br /> pursuant to its terms, if material; and <br /> (14) Appointment of a successor or additional trustee or the change of name of a trustee, <br /> if material. <br /> (15) Incurrence of a Financial Obligation of the City, if material, or agreement to <br /> covenants, events of default, remedies, priority rights, or other similar terms of a <br /> Financial Obligation of the City, any of which affect security holders, if material; <br /> and <br /> (16) Default, event of acceleration, termination event, modification of terms, or other <br /> similar events under the terms of a Financial Obligation of the City, any of which <br /> reflect financial difficulties. <br /> For these purposes, any event described in the immediately preceding paragraph (12) is <br /> considered to occur when any of the following occur: the appointment of a receiver, fiscal agent, <br /> or similar officer for the City in a proceeding under the United States Bankruptcy Code or in any <br /> other proceeding under state or federal law in which a court or governmental authority has assumed <br /> jurisdiction over substantially all of the assets or business of the City, or if such jurisdiction has <br /> been assumed by leaving the existing governing body and officials or officers of the City in <br /> possession but subject to the supervision and orders of a court or governmental authority, or the <br /> entry of an order confirming a plan of reorganization, arrangement, or liquidation by a court or <br /> governmental authority having supervision or jurisdiction over substantially all of the assets or <br /> business of the City. <br /> The City shall file notice with the MSRB, in a timely manner, of any failure by the City to <br /> provide financial information or operating data in accordance with subsection (a) of this Section <br /> by the time required by such subsection. <br /> (c) Limitations Disclaimers and Amendments. The City shall be obligated to observe <br /> and perform the covenants specified in this Section for so long as,but only for so long as,the City <br /> remains an "obligated person" with respect to the Bonds within the meaning of the Rule, except <br /> 26 <br /> San Marcos I WWSRB 2025 1 151 Supplemental Ordinance <br />