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<br />or interpretations of the Rule since such offering as well as such changed circumstances and (2) <br />either (a) the holders ofa majority in aggregate principal amount (or any greater amount required <br />by any other provision of this Ordinance that authorizes such an amendment) of the Outstanding <br />Bonds consent to such amendment or (b) a person that is unaffiliated with the Issuer (such as bond <br />counsel) determined that such amendment will not materially impair the interest of the holders and <br />beneficial owners of the Bonds. If the Issuer so amends the provisions of this Section, it shall <br />include with any amended financial information or operating data next provided in accordance with <br />subsection (a) of this Section an explanation, in narrative form, of the reason for the amendment and <br />of the impact of any change in the type of financial information or operating data so provided. The <br />Issuer may also amend or repeal the provisions of this continuing disclosure agreement if the SEC <br />amends or repeals the applicable provision of the Rule or a court of final jurisdiction enters judgment <br />that such provisions of the Rule are invalid, but only if and to the extent that the provisions of this <br />sentence would not prevent an underwriter from lawfully purchasing or selling Bonds in the primary <br />offering of the Bonds. <br /> <br />(d) Definitions. As used in this Section, the following terms have the meanings ascribed to <br />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 <br />time to time. <br /> <br />"Rule" means SEC Rule 15c2-12, as amended from time to time. <br /> <br />"SEe" means the United States Securities and Exchange Commission. <br /> <br />"SID" means any person designated by the State of Texas or an authorized department, <br />officer, or agency thereof as, and determined by the SEC or its staff to be, a state information <br />depository within the meaning of the Rule from time to time. <br /> <br />Section 34. SALE OF INITIAL BOND. The Initial Bond is hereby sold and shall be <br />delivered to SOUTHWEST SECURITIES for cash for the par value thereof and accrued interest <br />thereon to date of delivery (accrued interest to be deposited into the Interest and Sinking Fund). <br />It is hereby officially found, determined, and declared that the Initial Bond has been sold at public <br />sale to the bidder offering the lowest interest cost, after receiving sealed bids pursuant to an <br />Official Notice of Sale and Bidding Instructions and Official Statement dated February 11,2000, <br />prepared and distributed in connection with the sale of the Initial Bond. Said Official Notice of <br />Sale and Bidding Instructions and Official Statement, and any addenda, supplement, or amendment <br />thereto have been and are hereby approved by the governing body of the Issuer, and their use in the <br />offer and sale of the Bonds is hereby approved. It is further officially found, determined, and <br />declared that the statements and representations contained in said Official <br /> <br />40 <br />