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shall be required, without regard to sale and/or reinvestment, to <br />pay all amounts to become due thereon to maturity. <br />20. Continuing Disclosure. <br />(a) The City is the sole obligated person with respect <br />to -the Bonds. The City hereby agrees, in accordance with <br />the -provisions of Rule 15c2-12 (the "Rule"), promulgated by <br />the Securities and Exchange Commission (the "Commission"). <br />pursuant to the Securities Exchange -Act of 1934, as amended, <br />--- and aContinuing Disclosure Undertaking (the "Undertaking") <br />hereinafter described. tot <br />(1) Provide or cause to be provided, (i) (a) upon <br />' :request to any person, or (b) upon establishment of a <br />state information depository ("SID"), to the'SID, its <br />audited financial statements for the most recent fiscal <br />and (ii) to each nationally recognized municipal <br />securities information repository ("NRMSIR") or to the <br />- Municipal Securities Rulemaking Board ("MSRB") and the <br />SID, if any, notice of the occurrence of certain <br />'materialevents with respect to the Bonds in accordance <br />with the Undertaking. <br />(2) The City agrees that its covenants pursuant <br />to the Rule set forth in this paragraph and in the <br />Undertaking are intended to be for the benefit of the <br />holders and any other beneficial owners of the Bonds <br />and shall be enforceable on behalf of such holders and <br />beneficial owners; provided that the right to enforce <br />the provisions of these covenants shall be limited to a <br />right to obtain specific enforcement of the City's <br />obligations under the covenants. <br />(a) The Mayor and Clerk -Treasurer of the City, or any <br />other officer of the City authorized to act in their place, <br />(the "Officers") are hereby authorized and directed to <br />execute on behalf of the City the Undertaking in substan- <br />tially the form presented to the Council, subject to such <br />modifications thereof or additions thereto as are (i) <br />consistent with the requirements under the Rule, (ii) <br />required by the purchaser of the Bonds and (iii) acceptable <br />to the Officers. <br />21. General Obligation Pledge. For the prompt and <br />full payment of the principal of and interest on the Bonds as the <br />same respectively become due, the full faith, credit and taxing <br />powers of the City shall be and are hereby irrevocably pledged. <br />If the balance in the Escrow Account or Debt Service Account is <br />913727.01 21 <br />