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(b) Remedies for Default. <br />(i) Upon the happening of any Event of Default, then and in every case, any <br />Registered Owner or an authorized representative thereof, including, but not limited to, a <br />trustee or trustees therefor, may proceed against the Issuer for the purpose of protecting and <br />enforcing the rights of the Registered Owners under this Ordinance, by mandamus or other <br />suit, action or special proceeding in equity or at law, in any court of competent jurisdiction, <br />for any relief permitted by law, including the specific performance of any covenant or <br />agreement contained herein, or thereby to enjoin any act or thing that may be unlawful or <br />in violation of any right of the Registered Owners hereunder or any combination of such <br />remedies. <br />(ii) It is provided that all such proceedings shall be instituted and maintained for the <br />equal benefit of all Registered Owners of Bonds then outstanding. <br />(c) Remedies Not Exclusive. <br />(i) No remedy herein conferred or reserved is intended to be exclusive of any other <br />available remedy or remedies, but each and every such remedy shall be cumulative and shall <br />be in addition to every other remedy given hereunder or under the Bonds or now or hereafter <br />existing at law or in equity; provided, however, that notwithstanding any other provision of <br />this Ordinance, the right to accelerate the debt evidenced by the Bonds shall not be available <br />as a remedy under this Ordinance. <br />(ii) The exercise of any remedy herein conferred or reserved shall not be deemed a <br />waiver of any other available remedy. <br />(iii) By accepting the delivery of a Bond authorized under this Ordinance, such <br />Registered Owner agrees that the certifications required to effectuate any covenants or <br />representations contained in this Ordinance do not and shall never constitute or give rise to <br />a personal orpecuniary liability or charge against the officers, employees or councilmembers <br />of the Issuer. <br />Section 12. COMPLIANCE WITH RULE 15c2-12. <br />(a) Definitions. As used in this Section, the following terms have the meanings ascribed to <br />such terms below: <br />"MSRB" means the Municipal Securities Rulemaking Board. <br />"Rule" means SEC Rule 15c2-12, as amended from time to time. <br />"SEC" means the United States Securities and Exchange Commission. <br />(b) Annual Reports. <br />20 <br />