Laserfiche WebLink
<br />e <br /> <br />e <br /> <br />ORIGINAL <br /> <br />claim hereunder to any other person. The City undertakes to provide only the financial infonnation, operating <br />data, financial statements, and notices which it has expressly agreed to provide pursuant to this Section and does <br />not hereby undertake to provide any other infonnation that may be relevant or material to a complete presentation <br />of the City's financial results, condition, or prospects or hereby undertake to update any infonnation provided in <br />accordance with this Section or otherwise, except as expressly provided herein. The City does not make any <br />representation or warranty concerning such infonnation or its usefulness to a decision to invest in or sell Bonds <br />at any future date. <br /> <br />UNDER NO CIRCUMSTANCES SHALL THE CITY BE LIABLE TO THE OWNER OR BENEFICIAL <br />OWNER OF ANY CERTIFICATE OR ANY OTHER PERSON, IN CONTRACT OR TORT, FOR DAMAGES <br />RESULTING IN WHOLE OR IN PART FROM ANY BREACH BY THE CITY, WHETHER NEGLIGENT OR <br />WITHOUT FAULT ON ITS PART, OF ANY COVENANT SPECIFIED IN THIS SECTION, BUT EVERY <br />RIGHT AND REMEDY OF ANY SUCH PERSON, IN CONTRACT OR TORT, FOR OR ON ACCOUNT OF <br />ANY SUCH BREACH SHALL BE LIMITED TO AN ACTION FOR MANDAMUS OR SPECIFIC <br />PERFORMANCE. <br /> <br />No default by the City in observing or perfonning its obligations under this Section shall comprise a <br />breach of or default under this Ordinance for purposes of any other provisions of this Ordinance. <br /> <br />Nothing in this Section is intended or shall act to disclaim, waive, or otherwise limit the duties of the City <br />under federal and state securities laws. <br /> <br />The provisions of this Section may be amended, supplemented, or repealed by the City from time to time <br />under the following circumstances, but not otherwise: (I) to adapt to changed circumstances that arise from a <br />change in legal requirements, a change in law, or a change in the identity, nature, status, or type of operations <br />of the City, if the provisions of this Section, as so supplemented or amended, would have pennitted an <br />underwriter to purchase or sell Bonds in the present offering in compliance with the Rule and either the Owners <br />of a majority in aggregate principal amount of the outstanding Bonds consent to such amendment, supplement, <br />or repeal, or any State agency or official detennines that such amendment, supplement, or repeal will not <br />materially impair the interests of the beneficial owners of the Bonds, (2) upon repeal of the applicable provisions <br />of the Rule, or any judgment by a court of final jurisdiction that such provisions are invalid, or (3) in any other <br />circumstance or manner pennitted by the Rule. <br /> <br />Section 17. FURTHER PROCEDURES. The Mayor, the City Secretary, the City Manager, the Finance <br />Director, the City's Financial Advisor, and all other officers, employees, attorneys, and agents of the City, and <br />each of them, shall be and they are hereby expressly authorized, empowered, and directed from time to time and <br />at any time to do and perf ann all such acts and things and to execute, acknowledge, and deliver in the name and <br />under the seal and on behalf of the City, all such instruments, whether or not herein mentioned, as may be <br />necessary or desirable in order to carry out the tenns and provisions of this Ordinance, the Bonds, and the Official <br />Statement. Prior to the initial delivery of the Bonds, the Mayor and Bond Counsel to the City are hereby <br />authorized and directed to approve any technical changes or corrections to this Ordinance or to any of the <br />instruments authorized by this Ordinance necessary in order to (i) correct any ambiguity or mistake or properly <br />or more completely document the transactions contemplated and approved by this Ordinance, (ii) obtain a rating <br />from any of the national bond rating agencies, or (Hi) obtain the approval of the Bonds by the Texas Attorney <br />General's office. <br /> <br />Section 18. ORDINANCE A CONTRACT: AMENDMENTS. This Ordinance shall constitute a contract <br />with the Owners, from time to time, of the Bonds, binding on the City and its successors and assigns, and shall <br />not be amended or repealed by the City as long as any Bond remains outstanding except as pennitted in this <br />Section. The City may, without the consent of or notice to any owners, amend, change, or modify this Ordinance <br />as may be required (i) by the provisions hereof, (ii) in connection with the issuance of any additional bonds, (Hi) <br /> <br />16 <br />