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<br />Section 17. CONTINUING DISCLOSURE. (a) Annual Reports. (i) The Issuer shall provide <br />annually to each NRMSIR and any SID, within six months after the end of each fiscal year ending in or after <br />2002, financial information and operating data with respect to the Issuer of the general type included in the <br />final Official Statement authorized by Section 18 of this Ordinance, being the information described in Exhibit <br />A. Any financial statements so to be provided shall be prepared in accordance with the accounting principles <br />described in Exhibit A thereto, or such other accounting principles as the Issuer may be required to employ <br />from time to time pursuant to state law or regulation, and audited, if the Issuer commissions an audit of such <br />statements and the audit is completed within the period during which they must be provided. If the audit of <br />such fmancial statements is not complete within such period, then the Issuer shall provide audited fmancial <br />statements for the applicable fiscal year to each NRMSIR and any SID, when and ifthe audit report on such <br />statements become available. <br /> <br />(ii) If the Issuer changes its fiscal year, it will notify each NRMSIR and any SID of the change (and <br />of the date of the new fiscal year end) prior to the next date by which the Issuer otherwise would be required <br />to provide financial information and operating data pursuant to this Section. The financial information and <br />operating data to be provided pursuant to this Section may be set forth in full in one or more documents or <br />may be included by specific reference to any document (including an official statement or other offering <br />document, if it is available from the MSRB) that theretofore has been provided to each NRMSIR and any <br />SID or filed with the SEC. <br /> <br />(b) Material Event Notices. The Issuer shall notify any SID and either each NRMSIR or the <br />MSRB, in a timely manner, of any of the following events with respect to the Certificates of Obligation, if <br />such event is material within the meaning of the federal securities laws: <br /> <br />1. Principal and interest payment delinquencies; <br />2. Non-payment related defaults; <br />3. Unscheduled draws on debt service reserves reflecting financial difficulties; <br />4. Unscheduled draws on credit enhancements reflecting financial difficulties; <br />5. Substitution of credit or liquidity providers, or their failure to perform; <br />6. Adverse tax opinions or events affecting the tax-exempt status of the Certificates of <br />Obligation; <br />7. Modifications to rights of holders of the Certificates of Obligation; <br />8. Certificate of Obligation calls; <br />9. Defeasances; <br />10. Release, substitution, or sale of property secunng repayment of the Certificates of <br />Obligation; and <br />11. Rating changes. <br /> <br />The Issuer shall notify any SID and either each NRMSIR or the MSRB, in a timely manner, of any failure <br />by the Issuer to provide financial information or operating data in accordance with subsection (a) of this <br />Section by the time required by such subsection. <br /> <br />(c) Limitations. Disclaimers. and Amendments. (i) The Issuer shall be obligated to observe and <br />perform the covenants specified in this Section for so long as, but only for so long as, the Issuer remains an <br />"obligated person" with respect to the Certificates of Obligation within the meaning of the Rule, except that <br />the Issuer in any event will give notice of any deposit made in accordance with this Ordinance or applicable <br /> <br />25 <br />