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For the purposes of the event identified in (L) hereinabove, the event is considered to occur when <br />any of the following occur: the appointment of a receiver, fiscal agent or similar officer for an <br />obligated person in a proceeding under the U.S. Bankruptcy Code or in any other proceeding <br />under state or federal law in which a court or governmental authority has assumed jurisdiction <br />over substantially all of the assets or business of the obligated person, or if such jurisdiction has <br />been assumed by leaving the existing governing body and officials or officers in possession but <br />subject to the supervision and orders of a court or governmental authority, or the entry of an <br />order confirming a plan of reorganization, arrangement or liquidation by a court or governmental <br />authority having supervision or jurisdiction over substantially all of the assets or business of the <br />obligated person. <br />(3) In a timely manner, notice of the occurrence of any of the following events or <br />conditions: <br />(A) the failure of the City to provide the Disclosure Information required <br />under paragraph (b)(1) at the time specified thereunder; <br />(B) the amendment or supplementing of this section pursuant to subsection <br />(d), together with a copy of such amendment or supplement and any <br />explanation provided by the City under subsection (d)(2); <br />(C) the termination of the obligations of the City under this section pursuant to <br />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 <br />prepared; and <br />(E) any change in the fiscal year of the City. <br />(c) Manner of Disclosure. <br />(1) The City agrees to make available to the MSRB, in an electronic format as <br />prescribed by the MSRB from time to time, the information described in <br />subsection (b). <br />(2) All documents provided to the MSRB pursuant to this subsection (c) shall be <br />accompanied by identifying information as prescribed by the MSRB from time to <br />rime. <br />(d) Term, Interpretation. <br />(1) The covenants of the City in this section shall remain in effect so long as any <br />Bonds are Outstanding. Notwithstanding the preceding sentence, however, the <br />obligations of the City under this section shall terminate and be without further <br />effect as of any date on which the City delivers to the Registrar an opinion of <br />Bond Counsel to the effect that, because of legislative action or final judicial or <br />administrative actions or proceedings, the failure of the City to comply with the <br />requirements of this section will not cause participating underwriters in the <br />primary offering of the Bonds to be in violation of the Rule or other applicable <br />15 <br />4852- 7706 -1987\2 <br />