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(iv) No default by the Issuer in observing or performing its obligations under this Section shall <br />comprise a breach of or default under the Ordinance for purposes of any other provision of this <br />Ordinance. Nothing in this Section is intended or shall act to disclaim, waive, or otherwise limit the <br />duties of the Issuer under federal and state securities laws. <br />(v) The provisions of this Section may be amended by the Issuer from time to time to adapt to <br />changed circumstances that arise from a change in legal requirements, a change in law, or a change <br />in the identity, nature, status, or type of operations of the Issuer, but only if (1) the provisions of this <br />Section, as so amended, would have permitted an underwriter to purchase or sell Bonds in the <br />primary offering of the Bonds in compliance with the Rule, taking into account any amendments or <br />interpretations of the Rule since such offering as well as such changed circumstances and (2) either <br />(a) the registered owners of a 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 <br />nationally recognized bond counsel) determined that such amendment will not materially impair the <br />interest of the registered owners and beneficial owners of the Bonds. If the Issuer so amends the <br />provisions of this Section, it shall include with any amended financial information or operating data <br />next provided in accordance with subsection (a) of this Section an explanation, in narrative form, of <br />the reason for the amendment and of the impact of any change in the type of financial information or <br />operating data so provided. The Issuer may also amend or repeal the provisions of this continuing <br />disclosure agreement ifthe SEC amends or repeals the applicable provision ofthe Rule or a court of <br />final jurisdiction enters judgment that such provisions of the Rule are invalid, but only if and to the <br />extent that the provisions of this sentence would not prevent an underwriter from lawfully purchasing <br />or selling Bonds in the primary offering of the Bonds. <br />(d) 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 or any successor to its <br />functions under the Rule. <br />"Rule" means SEC Rule 15c2-12, as amended from time to time. <br />"SEC" means the United States Securities and Exchange Commission. <br />Section 22. PUBLIC NOTICE. It is hereby officially found and determined that public notice <br />of the time, place and purpose of said meeting was given, all as required by Chapter 551, Texas <br />Government Code, and that no petition was received from the qualified electors of the Issuer <br />protesting the issuance of the Certificates. <br />Section 23. ESCROW AGREEMENT. The Mayor is hereby authorized and directed to <br />execute and deliver an Escrow Agreement substantially in the form attached hereto as Exhibit A, with <br />such changes as may be approved by the Mayor, such approval to be evidenced by her execution <br />thereof. <br />28 <br />