CCRes_96-20 - Laserfiche WebLink

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• Manner of Disclosure The Issuer agrees to deliver the information described under "Information to be Disclosed" above to the following entities by telecopy, overnight delivery, mail or other means, as appropriate: (1) the information described under "Annual Information" and "Audited Financial Statements" above, to each then nationally recognized municipal securities information repository (each, a "NRMSIR") under the Rule and to any statement information depository then designated or operated by the State of Minnesota as contemplated by the Rule (the "State Depository"), if any; (2) the information described under "Certain Material Events" and "Certain Other Information" above, to the Municipal Securities Rulemaking Board, each NRMSIR and to the State Depository, if any; and (3) all information described under "Information to be Disclosed" to any rating agency then maintaining a rating of the Bonds and, at the expense of such Bondholder, to any bondholder who requests in writing such information, at the time of transmission under clauses (1) or (2) above, as the case may be, or, if such information is transmitted with a subsequent time of release, at the time such information is to be released. • Term The Disclosure Covenants shall remain in effect until all Bonds have been paid or defeased under the Bond Resolution. Notwithstanding the preceding sentence, however, the Disclosure Covenants shall terminate and be without further effect as of any date on which the Issuer receives and discloses (as an additional Material Event) an opinion of Bond Counsel to the effect that, because of legislative action or final judicial or administrative actions or proceedings, the failure of the Issuer to comply with the Disclosure Covenants will not cause participating underwriters in the primary offering of the bonds to be in violation of the Rule or other applicable requirements of the Securities Exchange Act of 1934, as amended, or any statutes or laws successory thereto or amendatory thereof. Amendments; Interpretation The Disclosure Covenants (and the form and requirements of the Disclosure Information) may be amended or supplemented by the Issuer from time to time, without notice to or the consent of the Owners of any Bonds, by a resolution of the governing body of the Issuer filed with the Registrar accompanied by an opinion of Bond Counsel, who may rely on the certificates of the Issuer and others and the opinion may be subject to customary qualifications, to the effect that (i) such amendment or supplement (a) is made in connection with a change in circumstances that arises from a change in law or regulation or a change in the identity, nature or status of the Issuer or the type of operations conducted by the Issuer, or (b) is required by, or better complies with, the tas29v~ - A-4