Laserfiche WebLink
accordance with this Section or otherwise, except as expressly provided herein. The City does not <br />make any representation or warranty concerning such information or its usefulness to a decision to <br />invest in or sell Bonds at any future date. <br />UNDER NO CIRCUMSTANCES SHALL THE CITY BE LIABLE TO THE OWNER OR <br />BENEFICIAL OWNER OF ANY BOND OR ANY OTHER PERSON, IN CONTRACT OR TORT, <br />FOR DAMAGES RESULTING IN WHOLE OR IN PART FROM ANY BREACH BY THE CITY, <br />WHETHER NEGLIGENT OR WITHOUT FAULT ON ITS PART, OF ANY COVENANT <br />SPECIFIED IN THIS SECTION, BUT EVERY RIGHT AND REMEDY OF ANY SUCH <br />PERSON, IN CONTRACT OR TORT, FOR OR ON ACCOUNT OF ANY SUCH BREACH <br />SHALL BE LIMITED TO AN ACTION FOR MANDAMUS IN THE CITY OF SAN MARCOS, <br />TEXAS. <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 First Supplement or the Master Ordinance for purposes <br />of any other provision of this First Supplement. <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 change <br />in the identity, nature, status, or type of operations of the City, but only if (i) the provisions of this <br />Section, as so amended, would have permitted an underwriter to purchase or sell Bonds in the <br />primary offering of the Bonds in compliance with the Rule, taking into account any amendments <br />or interpretations of the Rule since such offering as well as such changed circumstances and (ii) <br />either (a) the holders of a majority in aggregate principal amount (or any greater amount required <br />by any other provision of this First Supplement that authorizes such an amendment) of the <br />outstanding Bonds consents to such amendment or (b) a person that is unaffiliated with the City <br />(such as Bond Counsel) determines that such amendment will not materially impair the interest of <br />the Owners and beneficial owners of the Bonds. If the City so amends the provisions of this Section, <br />it shall include with any amended financial information or operating data next provided in <br />accordance with Section 7.09(a) an explanation, in narrative form, of the reason for the amendment <br />and of the impact of any change in the type of financial information or operating data so provided. <br />The City may also amend or repeal the provisions of this continuing disclosure agreement if the SEC <br />amends or repeals the applicable provision of the Rule or a court of final jurisdiction enters <br />judgment that such provisions of the Rule are invalid, but only if and to the extent that the provisions <br />of this sentence would not prevent an underwriter from lawfully purchasing or selling Bonds in the <br />primary offering of the Bonds. <br />The filing of such continuing disclosure information with a central post office approved for <br />such purposes by the SEC, such as Disclosure USA, for submission to the NRMSIRs and SID <br />(without also separately submitting such filings to the NRMSIRs and SID by some other means) will <br />satisfy the City's obligation to file such information with the NRMSIRs and SID so long as such <br />filing is acceptable to the SEC. <br />SAN MARCOS 2008: FirstSupplementalOrdinance 2,3 <br />