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<br /> 9A¡¿" <br /> statement or other offering document, if it is available ITom thQ MSRB) that theretofore has been provided to each <br /> NRMSIR and any SID or filed \vith the SEe. <br /> Section 16.03. Material Event Notices. <br /> The City shall notifY any SID and either each NRlvISIR or the MSRB, in a timely manner, of any of the <br /> following events with respect to the Bonds, if such event is material within the meaning of the federal secmities <br /> laws: <br /> A. Principal and interest payment delinquencies; <br /> - <br /> B. Non-payment related defaults; <br /> C. Unscheduled draws on debt service reserves reflecting fmancial difficulties; <br /> D. Unscheduled draws on credit enhancements reflecting financial difficulties; <br /> E. Substitution of credit or liquidity providers, or their failure to perfonn; <br /> F. Adverse ta.\: opinions or events affecting the ta.x-exempt status of the Bonds; <br /> G. Modifications to rights of holders of the Bonds; <br /> H. Bond calls; ~ <br /> L Defeasances; <br /> J. Release, substitution, or sale of property securing repayment of the Bonds; and <br /> K. Rating changes. <br /> The City shall notifY any SID and either each NRMSIR or the MSRB, in a timely manner, of any failure <br /> by the City to provide financial information or operating data in accordance with Section 16.02 of this Ordinance <br /> by the time required by such Section. <br /> Section 16.04. Limitations. Disclaimers. and Amendments. <br /> The City shall be obligated to observe and perfonn the covenants specified in this Article for so long as, <br /> but only for so long as, the City remains an "obligated person" with respect to the Bonds 'Çý1thin the meaning of <br /> the Rule, except that the City in any event will give notice required by Section 16.03 hereof of any Bond calls and <br /> defeasance that cause the City to be no longer such an "obligated person." <br /> The provisions of this Article are for the sole benefit of the Owners and beneficial owners of the Bonds <br /> and the beneficial owners of the Board's bonds if the City is an "obligated person" with respect to the Board's <br /> bonds under the Rule, -and nothing in this Article, express or implied, shall give any benefit or any legal or <br /> equitable right, remedy, or claim hereunder to any other person. The City undertakes to provide only the fmancial <br /> information, operating data, fmancial statements, and notices which it has expressly agreed to provide pursuant <br /> to this Article and does not hereby undertake to provide any other infonnatÍon that may be relevant or material <br /> ~13",,'I).W!.\WWM~ORDNœf>l 33 <br />