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Agenda - 02-17-2003-5b
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Agenda - 02-17-2003-5b
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Last modified
9/2/2008 8:55:21 AM
Creation date
8/29/2008 10:44:12 AM
Metadata
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Template:
BOCC
Date
2/17/2003
Document Type
Agenda
Agenda Item
5b
Document Relationships
Minutes - 20030217
(Linked To)
Path:
\Board of County Commissioners\Minutes - Approved\2000's\2003
RES-2003-013 Resolution for Sale of 2001 Bonds and Refunding of 1993 Bonds
(Linked From)
Path:
\Board of County Commissioners\Resolutions\2000-2009\2003
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17 <br />(3) unscheduled draws on debt service reserves reflecting financial <br />difficulties; <br />(4) unscheduled draws on any credit enhancements reflecting financial <br />difficulties; <br />(5) substitution of credit or liquidity providers, or their failure to perform; <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 />
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