Sarasota County Debt Management Policy - Resolution 2021-184

Sarasota County Debt Management Policy g. Modifications to rights of security holders, if material. h. Bond calls and tender offers. i. Defeasances. j. Release, substitution or sale of property securing repayment of the securities, if material. k. Rating changes. I. Bankruptcy, insolvency or receivership. m. 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 Obligated 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, if material. n. Appointment of successor or additional trustee or the change of name of a trustee, if material. o. The incurrence of a Financial Obligation of the County or Obligated Person, if material, or agreement to covenants, events of default, remedies, priority rights, or other similar terms of a Financial Obligation of the County or Obligated Person, any of which affect security holders, if material. p. Default, event of acceleration, termination event, modification of terms or other similar events under the terms of a financial obligation of the obligated person, any of which reflect financial difficulties. 2. Comply with reportable events n. (Event 15) and o. (Event 16) to The Rule Oversee the filing with the MSRB of notice of events n. (Event 15) and o. (Event 16.) 3. Know the Exceptions to CDAs Do not file any CDAs for debt issuances that meet at least one of the following: a. The entire issue for less than one million dollars ($1,000,000) b. The bonds were sold, in authorized denominations of one hundred thousand dollars ($100,000) or more, to no more than thirty-five sophisticated investors. 32