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No. 1054 regarding issuance of tax increment revenue refunding bonds
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No. 1054 regarding issuance of tax increment revenue refunding bonds
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10/18/2012 2:59:28 PM
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(g) any other purpose which in the judgment of the <br />Commission does not adversely impact the interests of the <br />owners of the Bonds. <br />This Resolution, and the rights and obligations of the <br />Commission and the owners of the Bonds may be modified or amended <br />at any time by supplemental resolutions adopted by the Commission <br />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 />-22- <br />
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