AG 2005 01 24 - Laserfiche WebLink

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( c) any such modification does not materially impair the interests of the beneficial owners, as determined either by parties unaffiliated with the County (such as bond counsel), or by the approving vote of the registered owners of a majority in principal amount of the Bonds pursuant to the terms of this bond resolution, as it may be amended from time to time, at the time of the amendment. Arty annual financial information containing modified operating data or fmancial information shall explain, in narrative form, the reasons for the modification and the impact of the change in the type of operating data or financial information being provided. To the extent permitted by the U.S. Securities and Exchange Commission, the County may discharge its undertaking described above by transmitting those documents or notices electronically to www.disclostrreusa.org. The provisions of this Section shall terminate upon payment, or provision having been made for payment in a manner consistent with Rule 15c2-12, in full of the principal of and interest on all of the Bonds. Section 11. The Courtty covenants that, to the extent permitted by the Constitution and laws of the State of North Carolina, it will do and perform all acts and things to comply with the requirements of the Internal Revenue Code of 1986, as amended (the "Code"), and any related regulations and procedures in order to assure that interest paid on the Bonds will not be includable in the gross income of the owners thereof for purposes of federal income taxation, except to the extent that the County obtains an opinion of bond counsel to the effect that noncompliance would not result in interest on the Bonds being ililcludable in the gross income of the owners of the Bonds for purposes of federal income taxation. 24 9-4-