02 GO Refunding Bond Ordinance - Laserfiche WebLink

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final Official Statement authorized by Section 17 of this Ordinance, being the information described in Exhibit A Any financial statements so to be provided shall be prepared in accordance xvith the accounting principles described in Exhibit A thereto, or such other accounting principles as the Issuer may be required to employ from time to time pursuant to state lmv or regulation, and audited, if the Issuer commissions an audit of such statements and the audit is completed xvithin the period during xvhich they must be provided. If the audit of such financial statements is not complete xvithin such period, then the Issuer shall provide audited financial statements for the applicable fiscal year to each NRMSIR and any SID, xvhen and if the audit report on such statements become available. (ii) If the Issuer changes its fiscal year, it xvill notify each NRMSIR and any SID of the change (and of the date of the nexv fiscal year end) prior to the next date by xvhich the Issuer otherxvise xvould be required to provide financial information and operating data pursuant to this Section. The financial information and operating data to be provided pursuant to this Section may be set forth in full in one or more documents or may be included by specific reference to any document (including an official statement or other offering document, if it is available from the MSRB) that theretofore has been provided to each NRMSIR and any SID or filed xvith the SEC. (b) Material Event Notices. The Issuer shall notify any SID and either each NRMSIR or the MSRB, in a timely manner, of any of the folloxving events xvith respect to the Bonds, if such event is material xvithin the meaning of the federal securities lmvs: 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. Principal and interest payment delinquencies; Non-payment related defaults; Unscheduled drmvs on debt service reserves reflecting financial difficulties; Unscheduled drmvs on credit enhancements reflecting financial difficulties; Substitution of credit or liquidity providers, or their failure to perform; Adverse tax opinions or events affecting the tax-exempt status of the Bonds; Modifications to rights of holders of the Bonds; Bond calls; Defeasances; Release, substitution, or sale of property securing repayment of the Bonds; and Rating changes. The Issuer shall notify any SID and either each NRMSIR or the MSRB, in a timely manner, of any failure by the Issuer to provide financial information or operating data in accordance xvith subsection (a) of this Section by the time required by such subsection. (c) Limitations. Disclaimers. and Amendments. (i) The Issuer shall be obligated to observe and perform the covenants specified in this Section for so long as, but only for so long as, the Issuer remains an "obligated person" xvith respect to the Bonds xvithin the meaning of the Rule, except that the Issuer in any event xvill give notice of any deposit made in accordance xvith this Ordinance or applicable lmv that causes Bonds no longer to be outstanding. (ii) The provisions of this Section are for the sole benefit of the holders and beneficial oxvners of the Bonds, and nothing in this Section, express or implied, shall give any benefit or any legal or equitable right, remedy, or claim hereunder to any other person. The Issuer undertakes to provide only the financial 23