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<br />Section 10.03. Remedies Not Exclusive. <br /> <br />(a) No remedy herein conferred or reserved is intended to be exclusive of any other available <br />remedy or remedies, but each and every such remedy shall be cumulative and shall be in addition to every <br />other remedy given hereunder or under the Certificates or now or hereafter existing at law or in equity; <br />provided, however, that notwithstanding any other provision of this Ordinance, the right to accelerate the <br />debt evidenced by the Certificates shall not be available as a remedy under this Ordinance. <br /> <br />(b) The exercise of any remedy herein conferred or reserved shall not be deemed a waiver of <br />any other available remedy. <br /> <br />ARTICLE XI <br /> <br />DEFEASANCE AND REFUNDING <br /> <br />Section 11.01. Defeasance and Refunding. <br /> <br />The City reserves the right to defease or refund the Certificates in any manner authorized by law. <br /> <br />ARTICLE XII <br /> <br />CONTINUING DISCLOSURE OBLIGATION <br /> <br />Section 12.01. Definitions. <br /> <br />As used in this Article, the following terms have the meanings ascribed to such terms below: <br /> <br />"MSRB" means the Municipal Securities Rulemaking Board. <br /> <br />"NRMSIR" means each person whom the SEC or its staff has determined to be a nationally <br />recognized municipal securities information repository within the meaning of the Rule from time to time. <br /> <br />"Rule" means SEC Rule 15c2-12, as amended from time to time. <br /> <br />"SEC" means the United States Securities and Exchange Commission. <br /> <br />"SID" means any person designated by the State of Texas or an authorized department, officer, or <br />agency thereof as, and determined by the SEC or its staff to be, a state information depository within the <br />meaning of the Rule from time to time. <br /> <br />Section 12.02. Annual Reports. <br /> <br />The City shall provide annually to each NRMSIR and any SID, within six months after the end of <br />each fiscal year ending in or after 1998, financial information and operating data with respect to the City of <br />the general type included in the final Official Statement authorized by Section 7.0 1 (b) of this Order, being <br />the information described in Exhibit A hereto. Any financial statements so to be provided shall be (1) <br />prepared in accordance with the accounting principles as the City may be required to employ from time to <br />time pursuant to state law or regulation and (2) audited, if the City commissions an audit of such statements <br /> <br />R:ISANMARICO.99\DOCSIORDNCEFN.WPD <br /> <br />25 <br />