Orange County NC Website
19 <br />The County may discharge its undertaking as set forth in this resolution by <br />providing such information in any manner that the United States Securities and <br />Exchange Commission subsequently authorizes in lieu of the manner described <br />above. <br />The County reserves the right to modify from time to time the information to <br />be provided to the extent necessary or appropriate in the County's judgment, <br />provided that: <br />(a) any such modification may only be made in connection with a change <br />in circumstances that arises from a change in legal requirements, change in law, or <br />change in the identity, nature, or status of the County; <br />(b) the information to be provided, as modified, would have complied with <br />the requirements of Rule 15c2 -12 as of the date of the final Official Statement, after <br />taking into account any amendments or interpretations of Rule 15c2 -12, as well as <br />any changes in circumstances; and <br />(c) any such modification does not materially impair the interests of the <br />beneficial owners, as determined either by parties unaffiliated with the County or by <br />the approving vote of the registered owners of a majority in principal amount of the <br />Bonds pursuant to the terms of the bond resolution, as it may be amended from time <br />to time, at the time of the amendment. <br />Any annual financial information containing modified operating data or <br />financial information will explain, in narrative form, the reasons for the modification <br />and the effect of the change in the type of operating data or financial information <br />being provided. <br />