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No. 1065 amending Resolution No. 1054 and amending the resolutions unbder which tax incremnent bonds are outstanding
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No. 1065 amending Resolution No. 1054 and amending the resolutions unbder which tax incremnent bonds are outstanding
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with the consent of the owners of the Bonds holding sixty percent <br />(60 %) in aggregate principal amount of the outstanding Bonds <br />(exclusive of Bonds, if any, owned by the Commission or the City); <br />provided, however, that no such modification or amendment shall, <br />without the express consent of the owners of all Bonds affected, <br />reduce the principal amount of the Bond, reduce the interest rate <br />payable thereon, advance the earliest redemption date, extend its <br />maturity or the times for paying interest thereon, permit a <br />privilege or priority of any Bond or Bonds over any other Bond or <br />Bonds, create a lien securing any Bonds other than a lien ratably <br />securing all of the Bonds outstanding, or change the monetary <br />medium in which principal, premium and interest is payable, nor <br />shall any such modification or amendment reduce the percentage of <br />consent required for amendment or modification. <br />Any act done pursuant to a modification or amendment so <br />consented to shall be binding upon all the owners of the Bonds and <br />shall not be deemed an infringement of any of the provisions of <br />this Resolution or of the Act, and may be done and performed as <br />fully and freely as if expressly permitted by the terms of this <br />Resolution, and after such consent relating to such specified <br />matters has been given, no owner shall have any right or interest <br />to object to any action or in any manner to question the propriety <br />thereof or to enjoin or restrain the Commission or any officer <br />thereof from taking any action pursuant thereto. <br />If the Commission shall desire to obtain any such consent, <br />it shall cause the Registrar to mail a notice, postage prepaid, to <br />-23- <br />
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