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• (C) the termination of the obligations of the City under this <br /> Section 7 pursuant to subsection(d); <br /> (D) any change in the accounting principles pursuant to which the financial <br /> statements 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 <br /> in subsection(b) to the following entities by telecopy, overnight delivery, mail or other means, as <br /> appropriate: <br /> (1) the information described in paragraph(1)of subsection (b), to each then nationally <br /> recognized municipal securities information repository under the Rule and to any state <br /> information depository then designated or operated by the State of Minnesota as contemplated by <br /> the Rule(the"State Depository"), if any; <br /> (2) the information described in paragraphs (2) and(3)of subsection(b), to the <br /> Municipal Securities Rulemaking Board and to the State Depository, if any; and <br /> (3)the information described in subsection(b), to any rating agency then maintaining a <br /> rating of the Bonds and, at the expense of such Bondowner, to any Bondowner who requests in <br /> • writing such information, at the time of transmission under paragraphs (1) or(2)of this <br /> subsection(c), as the case may be,or, if such information is transmitted with a subsequent time <br /> of release, at the time such information is to be released. <br /> (d) Term, Amendments; Interpretation. <br /> (1) The covenants of the City in this Section 7 shall remain in effect so long as any <br /> Bonds are Outstanding. Notwithstanding the preceding sentence,however, the obligations of the <br /> City under this Section 7 shall terminate and be without further effect as of any date on which the <br /> City delivers to the Registrar an opinion of Bond Counsel to the effect that,because of legislative <br /> action or final judicial or administrative actions or proceedings,the failure of the City to comply <br /> with the requirements of this Section 7 will not cause participating underwriters in the primary <br /> offering of the Bonds to be in violation of the Rule or other applicable requirements of the <br /> Securities Exchange Act of 1934,as amended, or any statutes or laws successory thereto or <br /> amendatory thereof. <br /> (2) This Section 7 (and the form and requirements of the Disclosure Information)may be <br /> amended or supplemented by the City from time to time, without notice to(except as provided in <br /> paragraph(c)(3)hereof)or the consent of the Owners of any Bonds,by a resolution of the City <br /> Council filed in the office of the City Clerk of the City accompanied by an opinion of Bond <br /> Counsel,who may rely on certificates of the City and others and the opinion may be subject to <br /> customary qualifications, to the effect that: (i) such amendment or supplement(a) is made in <br /> connection with a change in circumstances that arises from a change in law or regulation or a <br /> • change in the identity,nature or status of the City or the type of operations conducted by the <br /> -21- <br />