2001-073 - Laserfiche WebLink

Home Browse Search

2. Description of any indebtedness payable in whole or in part from the Pledged Revenues (as defined in the Official Statement). For purposes of this Disclosure Certificate, "Fiscal Year" means the period commencing on October 1 and ending on September 30 of the next succeeding year, or such other period provided by applicable law. SECTION 3. REPORTING SIGNIFICANT EVENTS. The County shall provide to the NRMSIRs or the Municipal Securities Rulemaking Board (the "MSRB") and to the SID, on a timely basis, notice of any of the following events, if such event is material with respect to the Series 2001 Bonds or the County's ability to satisfy its payment obligations with respect to the Series 2001 Bonds: (A) Principal and interest payment delinquencies; (B) Non-payment related defaults; (C) Unscheduled draws on the debt service reserve fund reflecting financial difficulties; (D) Unscheduled draws on credit enhancement reflecting financial difficulties; (E) Substitution of credit or liquidity providers, or their failure to perform; (F) Adverse tax opinions or events affecting the tax-exempt status of the Series 2001 Bonds; (G) Modifications to rights of Series 2001 Bondholders; (H) Calls on the Series 2001 Bonds; (I) Defeasance of the Series 2001 Bonds; (J) Release, substitution, or sale of property securing repayment of the Series 2001 Bonds; (K) Rating changes; and (L) Notice of any failure on the part of the County or any other Obligated Person (as defined herein)to meet the requirements of Section 2 hereof. The County may from time to time, in its discretion, choose to provide notice of the occurrence of certain other events, in addition to those listed in this Section 3, if,in the judgment of the County, such other events are material with respect to the Series 2001 Bonds, but the County does not specifically undertake to commit to provide any such additional notice of the occurrence of any material event except those events listed above. 2