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Agenda - 06-23-2005-8b
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Agenda - 06-23-2005-8b
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Last modified
8/29/2008 6:57:01 PM
Creation date
8/29/2008 10:33:34 AM
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BOCC
Date
6/23/2005
Document Type
Agenda
Agenda Item
8b
Document Relationships
Minutes - 20050623
(Linked To)
Path:
\Board of County Commissioners\Minutes - Approved\2000's\2005
RES-2005-057 Adoption of Bond Sale Resolutions
(Linked From)
Path:
\Board of County Commissioners\Resolutions\2000-2009\2005
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a~ <br />(5) substitution of credit or liquidity providers, or their failure to perfornr; <br />(6) adverse tax opinions or events affecting the tax-exempt status of the <br />Bonds; <br />(7) modifications to rights of the beneficial owners of the Bonds; <br />(8) Bond calls; <br />(9) defeasances; <br />(10) release, substitution or sale of any property securing repayment of the <br />Bonds; and <br />(11) rating changes; and <br />(d) in a timely manner, to each NRMSIR or to the MSRB, and to the SID, <br />if any, notice of a failure of the County to provide required annual financial <br />information described in (a) or (b) above on or before the date specified. <br />If the County fails to comply with the undertaking described above, any <br />beneficial owner of the Bonds may take action to protect and enforce the rights of <br />all beneficial owners with respect to such undertaking, including an action for <br />specific performance; provided, however, that failure to comply with such <br />undertaking will not be an event of default and will not result in any acceleration of <br />payment of the Bonds. All actions will be instituted, had and maintained in the <br />manner provided in this paragraph for the benefit of all beneficial owners of the <br />Bonds. <br />The County, at its option, may make any filing required by this undertaking <br />solely by transmitting such filing to the Texas Municipal Advisory Council (the <br />"MAC") as provided at http://www.disclosureusa.org, unless the SEC has <br />withdrawn the interpretive advice in its letter to the MAC dated September 7, <br />2004. <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 />
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