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AG 2003 07 21
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AG 2003 07 21
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Last modified
3/3/2006 9:37:57 AM
Creation date
11/27/2017 11:41:27 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
7/21/2003
Board
Board of Commissioners
Meeting Type
Regular
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(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 Issuer to provide required annual financial information described in (a) <br />or (b) above on or before the date specified. <br /> <br /> If the Issuer fails to comply with the undertaking described above, any beneficial owner <br />of the Bonds may take action to protect and enforce the rights of all beneficial owners with <br />respect to such undertaking, including an action for specific performance; provided, however, <br />that failure to comply with such undertaking shall not be an event of default and shall not result <br />in any acceleration of payment of the Bonds. All actions shall be instituted, had and maintained <br />in the manner provided in this paragraph for the benefit of all beneficial owners of the Bonds. <br /> <br /> The Issuer reserves the right to modify fi:om time to time the information to be provided <br />to the extent necessary or appropriate in the judgment of the Issuer, provided that: <br /> <br /> (a) any such modification may only be made in connection with a change in <br /> circumstances that arises from a change in legal requirements, change in law, or change <br /> in the identity, nature, or status of the Issuer; <br /> <br /> (b) the information to be provided, as modified, would have complied with the <br /> requirements of Rule 15c2-12 issued under the Securities Exchange Act of 1934 ("Rule <br /> 15c2-12") as of the date of the Official Statement relating to the Bonds, after taking into <br /> account any amendments or interpretations of Rule 15c2-12, as well as any changes in <br /> circumstances; and <br /> <br /> (c) any such modification does not materially impair the interests of the <br /> beneficial owners, as determined either by parties unaffiliated with the Issuer (such as <br /> bond counsel), or by the approving vote of the registered owners of a majority in <br /> principal amount of the Bonds pursuant to the terms of this bond resolution, as it may <br /> be amended fi:om time to time, at the time of the amendment. <br /> <br /> Any annual financial information containing modified operating data or financial <br /> information shall explain, in narrative form, the reasons for the modification and the impact of <br /> the change in the type of operating data or financial information being provided. <br /> <br />21 <br /> <br /> <br />
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