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AG 2006 08 21
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AG 2006 08 21
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Last modified
8/24/2006 1:40:13 PM
Creation date
11/27/2017 11:33:43 AM
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Template:
Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
8/21/2006
Board
Board of Commissioners
Meeting Type
Regular
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<br />(4) unscheduled draws on any credit enhancements reflecting fmancial <br />difficulties; <br />(5) substitution of any credit or liquidity providers, or their failure to perform; <br />(6) adverse tax opinions or events affecting the tax -exempt status of the <br />Bonds; <br />(7) modification to the rights of the beneficial owners of the Bonds; <br />(8) call of any Bonds for redemption; <br />(9) defeasance of any of the Bonds; <br />(10) release, substitution or sale of any property securing repayment of the <br />Bonds; and <br />(11) rating changes; and <br />(d) in a timely manner, to each NRMSIR or to the MSRB, and to the SID, if any, <br /> <br />notice of a failure of the County to provide required annual financial information described in (a) <br /> <br /> <br />or (b) above on or before the date specified. <br /> <br /> <br />If the County fails to comply with the undertaking described above, any beneficial owner <br /> <br /> <br />of the Bonds may take action to protect and enforce the rights of all beneficial owners with <br /> <br /> <br />respect to such undertaking, including an action for specific performance; provided, however, <br /> <br /> <br />that failure to comply with such undertaking shall not be an event of default and shall not result <br /> <br /> <br />in any acceleration of payment of the Bonds. All actions shall be instituted, had and maintained <br /> <br /> <br />in the manner provided in this paragraph for the benefit of all beneficial owners of the Bonds. <br /> <br /> <br />The County reserves the right to modify from time to time the information to be provided <br /> <br /> <br />to the extent necessary or appropriate in the judgment of the County, provided that: <br /> <br /> <br />(a) any such modification may only be made in connection with a change in <br /> <br /> <br />circumstances that arises from a change in legal requirements, change in law, or <br /> <br /> <br />change in the identity, nature, or status of the County; <br /> <br />24 <br /> <br />F=5 <br />
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