Agenda - 06-23-2005-8b - Laserfiche WebLink

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a~ (5) substitution of credit or liquidity providers, or their failure to perfornr; (6) adverse tax opinions or events affecting the tax-exempt status of the Bonds; (7) modifications to rights of the beneficial owners of the Bonds; (8) Bond calls; (9) defeasances; (10) release, substitution or sale of any property securing repayment of the Bonds; and (11) rating changes; and (d) in a timely manner, to each NRMSIR or to the MSRB, and to the SID, if any, notice of a failure of the County to provide required annual financial information described in (a) or (b) above on or before the date specified. If the County fails to comply with the undertaking described above, any beneficial owner of the Bonds may take action to protect and enforce the rights of all beneficial owners with respect to such undertaking, including an action for specific performance; provided, however, that failure to comply with such undertaking will not be an event of default and will not result in any acceleration of payment of the Bonds. All actions will be instituted, had and maintained in the manner provided in this paragraph for the benefit of all beneficial owners of the Bonds. The County, at its option, may make any filing required by this undertaking solely by transmitting such filing to the Texas Municipal Advisory Council (the "MAC") as provided at http://www.disclosureusa.org, unless the SEC has withdrawn the interpretive advice in its letter to the MAC dated September 7, 2004. The County reserves the right to modify from time to time the information to be provided to the extent necessary or appropriate in the County's .judgment, provided that: (a) any such modification may only be made in connection with a change in circumstances that arises from a change in legal requirements, change in law, or change in the identity, nature, or status of the County;