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95 <br /> The County shall provide the document referred to above to the MSRB in an electronic format as <br /> prescribed by the MSRB and accompanied by identifying information as prescribed by the MSRB. <br /> The County may discharge its undertaking described above by transmitting the documents referred <br /> to above to any entity and by any method authorized by the U.S. Securities and Exchange Commission. <br /> At present, Section 159-34 of the General Statutes of North Carolina requires that the County's <br /> financial statements be prepared in accordance with generally accepted accounting principles and that they <br /> be audited in accordance with generally accepted auditing standards. <br /> The County has acknowledged in the Trust Agreement that its undertaking pursuant to Rule 15c2- <br /> 12 is intended to be for the benefit of the registered owners of the 2024 Bonds and is enforceable by the <br /> Trustee or by any registered owner of the 2024 Bonds. THE RIGHT TO ENFORCE THE PROVISIONS OF THE <br /> COUNTY'S RULE 15C2-12 UNDERTAKINGS IS LIMITED TO A RIGHT TO OBTAIN SPECIFIC PERFORMANCE OF <br /> THE COUNTY'S OBLIGATIONS AND A FAILURE BY THE COUNTY TO COMPLY WITH ITS RULE 15C2-12 <br /> UNDERTAKINGS WILL NOT BE AN EVENT OF DEFAULT UNDER THE TRUST AGREEMENT AND WILL NOT <br /> RESULT IN ACCELERATION OF THE INSTALLMENT PAYMENTS. <br /> The County may modify from time to time,consistent with Rule 15c2-12,the information provided <br /> or the format of the presentation of such information,to the extent necessary or appropriate in the judgment <br /> of the County; provided that(1) any such modification may only be made in connection with a change in <br /> circumstances that arises from a change in legal requirements, change in law or change in the identity, <br /> nature or status of the County; (2)the information to be provided, as modified,would have complied with <br /> the requirements of the Rule 15c2-12 as of the date of this Official Statement,after taking into account any <br /> amendments or interpretations of the Rule 15c2-12, as well as any changes in circumstances; and (3) any <br /> such modification does not materially impair the interest of the Owners or the beneficial owners, as <br /> determined by the Trustee or nationally recognized bond counsel or by the approving vote of the Owners <br /> of a majority in principal amount of the 2024 Bonds. Any annual financial information containing modified <br /> operating data or financial information will explain,in narrative form,the reasons for the modification and <br /> the impact of the change in the type of operating data or financial information being provided. <br /> The County's Rule 15c2-12 undertakings will terminate on payment, or provision having been <br /> made for payment in a manner consistent with the Rule 15c2-12, in full of the principal and interest with <br /> respect to the 2024 Bonds. <br /> THE COUNTY'S CONTINUING DISCLOSURE COMPLIANCE <br /> [To be reviewed/confirmed]-During the past five years, the County has not failed to comply in all <br /> material respects with the terms of its prior undertakings under Rule 15c2-12, except as described in the <br /> following paragraphs. <br /> [In April 2019, the County determined that it had in some circumstances inadvertently failed to <br /> post on the EMMA system information regarding its approved County budget for the fiscal year ended June <br /> 30, 2019, as required by some of the County's continuing disclosure obligations, although the County's <br /> CAFR included some budget information.Upon becoming aware of this issue,the County promptly moved <br /> to properly link the required budget information to all relevant CUSIP numbers.] <br /> The County has filed notices of failure to file the items described above as required by Rule 15c2- <br /> 12,which describe the occasions of non-compliance and corrected compliance. <br /> 23 <br />