Resolution 2016-044 - Laserfiche WebLink

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is not included in the Disclosure hifori-nation and the City determines that certain specified data regarding such replacement operations would be a Material Fact (as defined in paragraph (2) hereof), then, from and after such determination, the Disclosure Information shall include such additional specified data regarding the replacement operations. If the Disclosure Inforniation is changed or this section is amended as permitted by this paragraph (b)(1) or subsection (d), then the City shall include in the next Disclosure Inforination to be delivered hereunder, to the extent necessary, an explanation of the reasons for the amendment and the effect of any change in the type of financial information or operating data provided. (2) In a timely mariner, not in excess of 10 business days after the occurrence of the event, to the MSRB through EA, notice of the occurrence of any of the following events (each a "Material Fact," as hereinafter defined): (A) principal and interest payment delinquencies; (B) non-payment related defaults, if material; (C) unscheduled draws on debt service reserves reflecting financial difficulties; (D) unscheduled draws on credit enhancements reflecting financial difficulties; (E) substitution of credit or liquidity providers, or their failure to perform; (F) adverse tax opinions, the issuance by the Internal Revenue Service of proposed or final deterininations of taxability, Notices of Proposed Issue (IRS Form 5701-TEB), or other material notices or detenninations with respect to the tax status of the Bonds or other material events affecting the tax status of the Bonds; (G) modifications to rights of Bond holders, if material; (H) Bond calls, if material and tender offers; (1) defeasances; (J) release, substitution, or sale of property securing repayment of the Bonds if material; (K) rating changes; (L) bankruptcy, insolvency, receivership, or similar event of the obligated person, (M) the consurnination of a merger, consolidation, or acquisition involving an obligated person or the sale of all or substantially all of the assets of the obligated person, other than in the ordinary course of business, the entry into a definitive agreement to -undertake such an action or the tennination of a definitive agreement relating to any such actions, other than pursuant to its terins, if material; and (N) appointment of a successor or additional trustee or the change of name of a trustee, if material, As used herein, for those events that must be reported if material, an event is material if a substantial likelihood exists that a reasonably pludent investor would attach importance thereto in deciding to buy, hold or sell a Bond or, if not disclosed, would significantly alter the total information otherwise -available to an investor from the Official Statement, infoirnation disclosed W