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' t <br /> (e) The City will not make any investment or do any <br /> other act or thing during the period that any 1993 Bond <br /> is outstanding hereunder which would cause any 1993 Bond <br /> to be an "arbitrage bond" within the meaning of Section <br /> 148 of the Code and the regulations applicable thereto as <br /> in effect on the date of delivery of the 1993 Bonds. <br /> The City will not take any action or fail to take any action with <br /> respect to the 1993 Bonds that would result in the loss of the <br /> exclusion from gross income for federal income tax purposes of <br /> interest on the 1993 Bonds pursuant to Section 103 (a) of the Code, <br /> and the City will not act in any manner which would adversely <br /> affect such exclusion. <br /> Notwithstanding any other provisions of this Ordinance, the <br /> foregoing covenants and authorizations (the "Tax Sections") which <br /> are designed to preserve the exclusion of interest on the 1993 <br /> Bonds from gross income under federal income tax law (the "Tax <br /> Exemption") need not be complied with if the City receives an <br /> opinion of nationally recognized bond counsel that any Tax Section <br /> is unnecessary to preserve the Tax Exemption. <br /> Section 19. Amendments. Subject to the terms and provisions <br /> contained in this section, and not otherwise, the owners of not <br /> less than sixty-six and two-thirds per cent (66-2/3%) in aggregate <br /> principal amount of the 1993 Bonds then outstanding shall have the <br /> right, from time to time, anything contained in this Ordinance to <br /> the contrary notwithstanding, to consent to and approve the <br /> adoption by the City of such ordinance or ordinances supplemental <br /> hereto as shall be deemed necessary or desirable by the City for <br /> the purpose of modifying, altering, amending, adding to or <br /> rescinding in any particular any of the terms or provisions <br /> contained in this Ordinance, or in any supplemental ordinance; <br /> provided, however, that nothing herein contained shall permit or be <br /> construed as permitting: <br /> (a) An extension of the maturity of the principal <br /> of or interest or premium, if any, on any 1993 Bond or an <br /> advancement of the earliest redemption date on any 1993 <br /> Bond; or <br /> (b) A reduction in the principal amount of any 1993 <br /> Bond or the redemption premium or the rate of interest <br /> thereon, or a change in the monetary medium in which such <br /> amounts are payable; or <br /> (c) The creation of a lien upon or a pledge of the <br /> revenues of the sewage works ranking prior to the pledge <br /> thereof created by this Ordinance; or <br /> (d) A preference or priority of any 1993 Bond or <br /> Bonds over any other 1993 Bond or Bonds; or <br /> (e) A reduction in the aggregate principal amount <br /> of the 1993 Bonds required for consent to such <br /> supplemental ordinance. <br /> If the City shall desire to obtain any such consent, it shall <br /> cause the Registrar to mail a notice, postage prepaid, to the <br /> addresses appearing on the registration books held by the <br /> Registrar. Such notice shall briefly set forth the nature of the <br /> proposed supplemental ordinance and shall state that a copy thereof <br /> is on file at the office of the Registrar for inspection by all <br /> owners of the 1993 Bonds. The Registrar shall not, however, be <br /> subiect to any liability to any owners of the 1993 Bonds by reason <br />