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Section 24 of this Resolution, being the information described in Exhibit C hereto. Any financial <br />statements so to be provided shall be (1) prepared in accardance with the accounting principles <br />described in Exhibit C hereto, or such other accounting principles as the Issuer may be required to <br />employ from time to time pursuant to state law or regulation, and (2) audited, if the Issuer <br />commissions an audit of such statements and the audit is completed within the period during which <br />they must be provided. If the audit of such financial statements is not complete within such period, <br />then the Issuer shall provide unaudited financial statements by the required time and will provide <br />audited financial statements for the applicable fiscal year to the MSRB, when and if the audit report <br />on such statements become available. Such information shall be transmitted electronically to the <br />MSRB, in such format and accompanied by such identifying information as prescribed by the <br />MSRB. <br />(ii) If the Issuer changes its fiscal year, it will notify the MSRB of the change (and of the <br />date of the new fiscal year end) prior to the next date by which the Issuer otherwise would be <br />required to provide financial information and operating data pursuant to this Section. The financial <br />information and operating data to be provided pursuant to this Section may be set forth in full in one <br />or more documents or may be included by specific reference to any document (including an official <br />statement or other offering document, if it is available from the MSRB) that theretofore has been <br />provided to the MSRB or filed with the SEC. <br />(b) Material Event Notices. The Issuer shall notify the MSRB, in a timely manner, of any <br />of the following events with respect to the Bonds, if such event is material within the meaning of <br />the federal securities laws: <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 Bonds; <br />7. Modifications to rights of holders of the Bonds; <br />8. Bond calls; <br />Defeasances; <br />10. Release, substitution, or sale of property securing repayment of the Bonds; and <br />11. Rating changes. <br />The Issuer shall notify the MSRB, in a timely manner, of any failure by the Issuer to provide <br />financial information or operating data in accordance with subsection (a) of this Section by the time <br />required by such subsection. <br />(c) Limitations, Disclaimers, and Amendments. (i) The Issuer shall be obligated to observe <br />and perform the covenants specified in this Section for so long as, but only for so long as, the Issuer <br />remains an "obligated person" with respect to the Bonds within the meaning of the Rule, except that <br />the Issuer in any event will give the notice required by Subsection (b) hereof of any Bond calls and <br />defeasance that cause the Issuer to no longer be such an "obligated person". <br />25 <br />