Laserfiche WebLink
® (C) Unscheduled draws on debt service reserves reflecting financial difficulties; <br /> (D) Unscheduled draws on credit enhancements reflecting financial difficulties; <br /> (E) Substitution of credit or liquidity providers, or their failure to perform; <br /> (F) Adverse tax opinions or events affecting the tax-exempt status of the security; <br /> (G) Modifications to rights of security holders; <br /> (H) Bond calls; <br /> (1) Defeasances; <br /> (J) Release, substitution, or sale of property securing repayment of the securities; <br /> and <br /> (K) Rating changes. <br /> As used herein, a"Material Fact" is a fact as to which a substantial likelihood exists that a <br /> reasonably prudent investor would attach importance thereto in deciding to buy, hold or sell a Bond or, <br /> if not disclosed, would significantly alter the total information otherwise available to an investor from the <br /> Official Statement, information disclosed hereunder or information generally available to-the public. <br /> Notwithstanding the foregoing sentence, a"Material Fact" is also an event that would be deemed <br /> "material" for purposes of the purchase, holding or sale of a Bond within the meaning of applicable <br /> federal securities laws, as interpreted at the time of discovery of the occurrence of the event. <br /> (3) In a timely manner, notice of the occurrence of any of the following events or conditions: <br /> (A) the failure of the City to provide the Disclosure Information required under <br /> paragraph (b)(1) at the time specified thereunder; <br /> (B) the amendment or supplementing of this Section 7 pursuant to subsection <br /> (d), together with a copy of such amendment or supplement and any explanation <br /> provided by the City under subsection (d)(2); <br /> (C) the termination of the obligations of the City under this Section 7 pursuant <br /> to subsection (d); <br /> (D) any change in the accounting principles pursuant to which the financial statements <br /> constituting a portion of the Disclosure Information are prepared; and <br /> (E) any change in the fiscal year of the City. <br /> (c) Manner of Disclosure. The City agrees to make available the information described in <br /> subsection (b) to the following entities by telecopy, overnight delivery, mail or other means, as <br /> appropriate: <br /> • -21- <br />