Laserfiche WebLink
<br />and the audit is completed within the period during which they must be provided. If the audit of such <br />financial statements is not complete within such period, then the City shall provide audited financial <br />statements for the applicable fiscal year to each NRMSIR and any SID, when and ifthe audit report on such <br />statements becomes available. <br /> <br />If the City changes its fiscal year, it will notify eachNRMSIRand any SID of the change (and of the <br />date of the new fiscal year end) prior to the next day by which the City otherwise would be required to <br />provide financial information and operating data pursuant to this Section. <br /> <br />The financial information and operating data to be provided pursuant to this Section may be set forth <br />in full in one or more documents or may be included by specific reference to any document (including an <br />official statement or other offering document, if it is available from the MSRB) that theretofore has been <br />provided to each NRMSIR and any SID or filed with the SEC. <br /> <br />Section 12.03. Material Event Notices. <br /> <br />(a) The City shall notify any SID and either each NRMSIR or the MSRB, in a timely manner, <br />of any of the following events with respect to the Certificates, if such event is material within the meaning <br />of the federal securities laws: <br /> <br />(i) Principal and interest payment delinquencies; <br /> <br />(ii) Non-payment related defaults; <br /> <br />(iii) Unscheduled draws on debt service reserves reflecting financial difficulties; <br /> <br />(iv) Unscheduled draws on credit enhancements reflecting financial difficulties; <br /> <br />(v) Substitution of credit or liquidity providers, or their failure to perform; <br /> <br />(vi) Adverse tax opinions or events affecting the tax-exempt status of the Certificates; <br /> <br />(vii) Modifications to rights of holders ofthe Certificates; <br /> <br />(viii) Certificate calls; <br /> <br />(ix) Defeasances; <br /> <br />(x) Release, substitution, or sale of property securing repayment of the Certificates; and <br /> <br />(xi) Rating changes. <br /> <br />(b) The City shall notify any SID and either each NRMSIR or the MSRB, in a timely manner, <br />of any failure by the City to provide financial information or operating data in accordance with Section <br />12.02 of this Order by the time required by such Section. <br /> <br />R.\SANMARICO.99\DOCSIORDNCEFN.WPD <br /> <br />26 <br />