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<br /> fer II (2..
<br /> Tne: City's =..-:o.c ü=ù 'f= :;:::ê :s s..."?t=¡¡1:~ 30. A=r.6-;!j', it ;:;1\:,$t pro;i~ C:;6t:d ~àffi!.aticrl byM:.rcn 31 irl ~:t
<br /> y=, ucl~ t:¡;: City Cl:.3..'1ges its fi~ y=. If th;: City Ò~"3;:;:; its fi=! y=, ie .",ill !lOt4). =b. £-.i'R,.\,iSB. .3.rld .3.rly SID of the
<br /> ch2.age.
<br /> Annual Audit
<br /> Und.e:r Texas hw, ÍJ¡ch...';;ag, but ¡:;::, limitd to, Cb.ap~ 103, as amcdoi, Tex:..s L~ ~"'eæmæt C~, the Ciey mt:"" l:~
<br /> its Ii=! r~rd.3 in ~rdanc.::: ....."it:¡ ge-..--a.lly a.cc..--ptd a.ccoun~ principles, fit:",;: æ;';: its fin~"cial r=rds a'uditd by ~
<br /> =tilled public acc::n!!lU:J.t, and r:;:¡t:"" ill;: =b. audit with the City S=-etary withi.ü 120 days a..~..;:r the c!~ of the City's Ii~
<br /> y=. Th;: Ci'l"s Ii=! records a.::¿ :.u.dic r::porcs are avaihbl;: for public Ì!l.spð:tÏO:l duri.ü.g th;: regular business hou.-"3 of th.::
<br /> City &creta.")'. Additioully, u~n tl:e filing of th= fi=rlcial ~æts and th;: a:l.:luaI auè.it, th= cicc~æts are subj;:çe to
<br /> the Texas Opo R~rd..s Act, Ch2.pe::r 552, as arnædd, TeX3.3 ~;'crnment Cc.:k. Tü.;:reaft;:r any ~il may obtain copi;:;:; of
<br /> th= dQÇur:;:¡~ts upon submission of a v.TÌt:t::n requ::st to the City 1.-íaæ.ger at City of San ~f.=.rcos. Te:a.s, 630 Ease Hopkins
<br /> Street, San M.a.rcos, Tex:..s 785óó, a;:¡,d tl:--.on paying the r~!l.'3.bl;: copying, handli...,g, and deli;':::ry ch:.:ges fur pro;iding this
<br /> info rma ti o!l.
<br /> Material :E;'~D.t Notic~
<br /> The City ....ill also pro;i~ timely noti= of c.:::r~ events to c.cr-<2in information v~dors. Tne City v,ill provide notic..: of any
<br /> of the fullov.ing events v.ith respë:; CO the Bonds, if such e;'ene is mat:::r1a1 to a c!.ecisi;::¡¡ Co pt:.rch:..s.:: or ~U Bonds:
<br /> (1) princi?3l and i.:..cerest pajment d:::linqu...~cit:S',
<br /> (2) non-pajment rda;;:d derãults;
<br /> (3) uns<:~e.dule.d cL-:>""'S on debt servic.::: r=r..es refl;:çt.irJ.g fi..ru¡¡cial diiT1culties;
<br /> (4) un.s.::teduled d..-a""~ en credit enh.anc...-ments ret1;:çting [i"I'uncial ¿iiT1culties;
<br /> (5) subs-..itution of c;-::6t or liquidity pro;;d...--rs, or their fJ..ilure to p<:rfom1;
<br /> (5) adve:rs<: ta.'( opi.:...:ons or events a.tI;:çting the t3..'(~xe::npt status of ,,'1e Bands;
<br /> (ï) rnc.:!.illcations Co rights othold...--rs of the Bonds;
<br /> (8) Bond calls;
<br /> (9) &f~~5-~n=; ,
<br /> (10) rd~, substitutioa, or sale of pro perry s.:::::u.ri.n.g repajme:nt ofl1e Bonds; and
<br /> (11) I"at.W.g changes.
<br /> (Neither the Bonds nor the Ordir:2:lc..: raake any pro;;sion for liquidity en1uIlc=~t.) In addition. the City will provid::: tirndy
<br /> notice of any failure by the City to pro;;de inlòrmatioa, da~ or fi=cial stà;=enCs in. a.ccordanc.::: v,ith its ag:-=:menc
<br /> &s..-ribed above und;:r ':-\nnd R~oru." The City .....ill pro;id:: =h notic~ descriè<d in tIlls paragraph to any SID and CO
<br /> eith;:r =h ~-a...\'íSIR or the Munici~ S;:çuritie.s Rulema.\ång Beard C,;\íSRB").
<br /> A,,"ailabilicy of Information from ~"R..\fSIRs and SID
<br /> Tne City b.:..s ~eed toO provi.::: "'1:: :crqoing irJ1ò=tlon only CO KR...\LSIRs and any SID. Tne i'¡l1òrmatloa v.ill ~ available to
<br /> holders ofBoaé.s only if the holde-.s comply .....ith the proc::dures and pay ehe charges es:.:¡b¡ished by such i."lforrnatlon ve-;,dors or
<br /> obt:Un the iniòiIDatioa 6rough s.:::::~...;ties broke-;:¡ who do so.
<br /> Tne Munici;;cl Advis.:Jf'¡ Council of T;:x:..s has b=:a c!e.signacd by the State of Tex:..s as a SID, bue the SSC staff éu.s IiOt yee
<br /> d:::t::rmined lb.t ic is a qt.:.:l.!ifi;:d SID. Tne address of the Mt:aici?3l Advisory Coll:".cil is 500 W::st 3th Street, P.O. Box 21 n,
<br /> Austin., Texas ï3ï53-2 1 n. and its tek?Qone nurnbcr is 511J47ó-ó9-4ï.
<br /> Lirnitatioa.! aad Ameadmenu
<br /> Tne City has agreed to t:;x!:J.t:: iniår=..at:on and to provi& noti= of mat:::r1al ev~ts ocly as des..-rib.::d above. The City b.:..s noe
<br /> ~ce.d to provide qthe-. i::ttò=t:c::J. fut may ~ rdev2.:le or ITIat:::r1al Co a com?!;::e pre=tation of its financial r::sults of
<br /> op<:rations, condition., or ;::ros¡x:;:~ or ag:r~ to u~6t;: 2.:ly inlò=tion that is pro;id:::::!, c:xc...--;:e as d:::s...-rib.::d above. Tn:: City
<br /> ma.<es no r~r:::s...~tatioa or warra.,ty conc...--ming su.ch infol"û'.3tion or concemÎ.:lg its usefulness to a decision to invest in or ~U
<br /> Bonds at an;; futur;: date. The City ¿¡s.::lai= any contracæ:ú or co" liability tòr d.:!.~es resulti.:¡g Îll whole or Îll p.art ii'cm any
<br /> breach of its continllÎllg ~s.:lo=:: ~=ent or fÌ'OGl any S-.at=C::J.t m.a.c!e pursU3.l1e to its agre--=:r:enc, al,,":ot:g.b. holders of.i3onds
<br /> r:;:¡ay =\.:: a \lone of ül3.rl6=.us to co¡::~d the Ci'l' to comply ....iò its agr::...--:nC::J.t.
<br /> Tne City ITIa>' a.-nend its cont.in.ui:-.g ~s.::losure agr=<=ne (I) if th;: hold...--rs of a nujcrity in aggreg3te principal amoUût or the
<br /> Bonds outs".:a.-¡cfu¡g cons....~c, (2) if tl:e applicable pro;;siocs of SEC Rule 15c2-12 a:;: r::-,.d<:d or a ii'la.! court ju.d.~ene is
<br /> c:::J.tc:red th3.c ó:: pro;isioas .a.re i.:J.;-~d, or (3) in any oth;:r Circ=~,"1œ or man..-¡e-.. if the ag:e-.::n<=nc, as suppk:n~cd a.....d
<br /> ar;:¡~d:::d, would ¡x.."\W.Ït a=l un~"'rw=-i~ to pUI'chas.e or ~11 Bonds in a prim:!.!)' orTci,g i.:::t cor71?liar.ce v.it-": ,,":e Rule.
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