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which principal and interest are payable, nor shall any such modification or amendment reduce <br />the percentage of consent required for amendment or modification. <br />Any act done pursuant to a modification or amendment so consented to shall be <br />binding upon all the owners of the Refunding Bonds and shall not be deemed an infringement of <br />any of the provisions of this Ordinance, and maybe done and performed as fully and freely as if <br />expressly permitted by the terms of this Ordinance, and after such consent relating to such <br />specified matters has been given, no owner shall have any right or interest to object to such <br />action or in any manner to question the propriety thereof or to enjoin or restrain the City or any <br />officer thereof from taking any action pursuant thereto. <br />If the City shall desire to obtain any such consent, it shall cause the Registrar and <br />Paying Agent to mail a notice, postage prepaid, to the respective owners of the Refunding Bonds <br />at their addresses appearing on the registration books held by the Registrar and Paying Agent. <br />Such notice shall briefly set forth the nature of the proposed supplemental ordinance and shall <br />state that a copy thereof is on file at the office of the Registrar and Paying Agent for inspection <br />by all owners of the Refunding Bonds. The Registrar and Paying Agent shall not, however, be <br />subject to any liability to any owners of the Refunding Bonds by reason of its failure to mail the <br />notice described in this Section 15, and any such failure shall not affect the validity of such <br />supplemental ordinance when consented to and approved as provided in this Section 15. <br />Whenever at any time after the date of the mailing of such notice, the City shall <br />receive an instrument or instruments purporting to be executed by the owners of the Refunding <br />Bonds of not less than sixty percent (60%) in aggregate principal amount of the Refunding <br />Bonds then outstanding (exclusive of Refunding Bonds, if any, owned by the City), which <br />instrument or instruments shall refer to the proposed supplemental ordinance described in such <br />notice, and shall specifically consent to and approve the adoption thereof in substantially the <br />form of the copy thereof referred to in such notice as on file with the Registrar and Paying Agent, <br />thereupon, but not otherwise, the City may adopt such supplemental ordinance in substantially <br />such form, without liability or responsibility to any owners of the Refunding Bonds, whether or <br />not such owner shall have consented thereto. <br />Upon the adoption of any supplemental ordinance pursuant to the provisions of <br />this Section 15, this Ordinance shall be, and be deemed to be, modified and amended in <br />accordance therewith, and the respective rights, duties and obligations under this Ordinance shall <br />thereafter be determined, exercised and enforced hereunder, subject in all respects to such <br />modifications and amendments. <br />Notwithstanding anything contained in this Ordinance to the contrary, the rights <br />and obligations of the City and of the owners of the Refunding Bonds authorized by this <br />Ordinance, and the terms and provisions of the Refunding Bonds and this Ordinance, or any <br />supplemental or amendatory ordinance, may be modified or altered in any respect with the <br />consent of the City and the consent of the owners of all the Refunding Bonds then outstanding. <br />SECTION 16. The City hereby requests, authorizes and directs all officials, <br />officers, members, employees and agents of the City, the Mayor, the Clerk, and the Controller, <br />BDDBOI 4539793x1 -25- <br />