Laserfiche WebLink
service funds and accounts of the County for the receipt and disbursement of debt service <br />payments on the Bonds. <br />Section 14. The County hereby undertakes, for the benefit of the beneficial owners of the <br />Bonds to provide: <br />(a) by not later than seven months from the end of each fiscal year of the County, <br />commencing with the fiscal year ending June 30, 2013, to the Municipal Securities Rulemaking <br />Board ( "MSRB "), audited financial statements of the County for such fiscal year, if available, <br />prepared in accordance with Section 159 -34 of the General Statutes of North Carolina, as it may <br />be amended from time to time, or any successor statute, or, if such audited financial statements <br />of the County are not available by seven months from the end of such fiscal year, unaudited <br />financial statements of the County for such fiscal year to be replaced subsequently by audited <br />financial statements of the County to be delivered within 15 days after such audited financial <br />statements become available for distribution; <br />(b) by not later than seven months from the end of each fiscal year of the County, <br />commencing with the fiscal year ending June 30, 2013, to the MSRB, (i) the financial and <br />statistical data as of a date not earlier than the end of the preceding fiscal year for the type of <br />information included under heading "The County - Debt Information and - Tax Information" in <br />the Official Statement relating to the Bonds (excluding any information on overlapping or <br />underlying units) and (ii) the combined budget of the County for the current fiscal year, to the <br />extent such items are not included in the financial statements referred to in (a) above; <br />(c) in a timely manner, not in excess of ten (10) Business Days after the occurrence <br />of the event, notice to the MSRB of any of the following events with respect to the Bonds: <br />(1) principal and interest payment delinquencies; <br />(2) non - payment related defaults, if material; <br />(3) unscheduled draws on debt service reserves reflecting financial <br />difficulties; <br />(4) unscheduled draws on any credit enhancements reflecting financial <br />difficulties; <br />(5) substitution of any credit or liquidity providers, or their failure to <br />perform; <br />22 <br />Attachment number 2 <br />G -I Page 209 <br />