Agmt15 City of RWC Public Financing Authority Water Revenue Refunding Bonds

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Section 5.Re,porting of Listed Events. (a)Reportable Events. The City shall, or shall cause the Dissemina�ion Agent (if not the City)to, give notice of the occurrence of any of the following events with respect to the Bonds: (1) Principal and interest payment delinquencies. (2) Unscheduled draws on debt service reserves reflecting financial difficulties. (3) Unscheduled draws on credit enhancements reflecting financial difficulties. (4) Subsritution of credit or liquidity providers,or their failure to perform. (5) Defeasances. (6) Rating changes. (7) Tender offers. (8) Bankruptcy,insolvency,receivership or similar event of the obligated person. (9) Adverse tax opinions, the issuance by the Internal Revenue Service of proposed or final determinations of taxability, Notices of Proposed Issue(IRS Form 5701- TEB)or other material notices or determinations with respect to the tax status of the security,or other material events affecting the tax status of the security. Note:For the purposes of the event identified in subparagraph(B),the event is considered to occur when any of the following occur:the appointment of a receiver,fiscal agent or similar officer for an obligated person in a proceeding under the U.S. Bankruptcy Code or in any other proceeding under state or federal law in which a court or governmental authority has assumed jurisdiction over substantially all of the assets or business of the obligated person,or if such jurisdiction has been assumed by leaving the existing governmental body and officials or officers in possession but subject to the supervision and orders of a rnurt or govemmental authority,or the entry of an order confirming a plan of reorganization, arrangement or liquidation by a court or governmental authority having supervision or jurisdidion over substantially all of the assets or business of the obligated person. (b)Materia!Reportable Events.The City shall give,or cause to be given,notice of the occurrence of any of the following events with respect to the Bonds,if material: (1) Non-payment related defaults. (2) Modifications to rights of security holders. (3) Bond calls. (4) The release,substitution,or sale of property securing repayment of the securities. (5) The consummation of a merger, consolidation, or acquisition involving an obligated person or the sale of all or substantially all of the assets of the obiigated person,other than in the ordinary course of business,the entry into a definitive agreement to undertake such an action or the termination of a definitive agreement relating to any such actions,other than pursuant to its terms. (6) Appointment of a successor or additional trustee, or the change of name of a trustee. (c)Time to Disclose.The City shall,or shall cause the Dissemination Agent(if not the City)to,file a notice of such occurrence with EMMA, in an electronic format as prescribed by the MSRB, in a timely -3-