Laserfiche WebLink
collateral pledged as security for the 1998 Bonds, for the repayment of the Policy <br />Costs; <br />(d.) No additional bonds will be issued without the Reserve Policy Issuer's <br />prior written consent as long as Policy Costs are past due and still owing to the <br />Reserve Policy Issuer; <br />(e.) This Ordinance shall not be modified or amended without the prior <br />written consent of the Reserve Policy Issuer; and <br />(f.) The Reserve Policy Issuer shall be provided with written notice of the <br />resignation or removal of the Registrar and Paying Agent and the appointment of a <br />successor thereto and of the issuance of additional indebtedness of the City's Sewage <br />Works at the address specified in the Reserve Policy Agreement." <br />SECTION 2. TERMS AND PROVISIONS OF ORDINANCES. Except as expressly set <br />forth herein, all of the terms and provisions of the 1998 Ordinance shall remain in full force and <br />effect. <br />SECTION 3. NO CONFLICT. The Council hereby finds and determines that the adoption <br />of this Ordinance is in compliance with the 1998 Ordinance, and the 1998 Ordinance shall remain in <br />full force and effect except as otherwise provided in this Ordinance. None of the provisions of this <br />Ordinance shall be construed to prejudice or adversely affect the rights of the owners of any of the <br />Outstanding Bonds. <br />SECTION 4. SEVERABILITY. If any section, paragraph or provision of this Ordinance <br />shall be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such <br />section, paragraph or provision shall not affect any of the remaining provisions of this Ordinance. <br />SECTION 5. INTERPRETATION. Unless the context or laws clearly require otherwise, <br />references herein to statutes or other laws include the same as modified, supplemented or superseded <br />from time to time. <br />SECTION 6. EFFECTIVENESS. This Ordinance shall be in full force and effect from and <br />after its passage and compliance with the procedures required by law. <br />-4- <br />