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A. Principal and interest payment delinquencies; <br />B. Non - payment related defaults, if material within the meaning of the federal <br />securities laws; <br />C. Unscheduled draws on debt service reserves reflecting financial difficulties; <br />D. Unscheduled draws on credit enhancements reflecting financial difficulties; <br />E. Substitution of credit or liquidity providers, or their failure to perform; <br />F. Adverse tax opinions, the issuance by the Internal Revenue Service of <br />proposed or final determinations of taxability, Notices of Proposed Issue <br />(IRS Form 5701 -TEB) or other material notices or determinations with <br />respect to the tax - exempt status of the Bonds, or other events affecting the <br />tax - exempt status of the Bonds; <br />G. Modifications to rights of holders of the Bonds, if material within the <br />meaning of the federal securities laws; <br />H. Bond calls, if material within the meaning of the federal securities laws and <br />tender offers; <br />I. Defeasances; <br />J. Release, substitution, or sale of property securing repayment of the Bonds, <br />if material within the meaning of the federal securities laws; <br />K. Rating changes; <br />L. Bankruptcy, insolvency, receivership or similar event of the City; <br />M. The consummation of a merger, consolidation, or acquisition involving the <br />City or the sale of all or substantially all of the assets of the City, other than <br />in the ordinary course of business, the entry into a definitive agreement to <br />undertake such an action or the termination of a definitive agreement relating <br />to any such actions, other than pursuant to its terms, if material within the <br />meaning of the federal securities laws; and <br />N. Appointment of a successor or additional trustee or the change of name of a <br />trustee, if material within the meaning of the federal securities laws. <br />The City shall notify the MSRB, in an electronic format as prescribed by the MSRB, in a <br />timely manner, of any failure by the City to provide financial information or operating data in <br />accordance with subsection (a) of this Section by the time required by such subsection. All <br />SanMARCOS \ElectricUtilSysRevBonds\2013: 1 stSuppOrdinance 25 <br />