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Municipal Waterworks Revenue Bonds
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1992
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Municipal Waterworks Revenue Bonds
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Last modified
5/13/2013 1:13:21 PM
Creation date
10/11/2012 11:36:33 AM
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Template:
City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
11/23/1992
Ord-Res Number
8318-92
Bill Number
93-92
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' ordinance if such supplemental ordinance will not <br /> adversely affect the owners of the bonds herein <br /> authorized or any other bonds ranking on a parity with <br /> such bonds; <br /> (f) To accomplish any other purpose which, in the <br /> judgment of the City, does not adversely affect the <br /> interests of the owners of the Bonds or any other bonds <br /> ranking on a parity with such bonds. <br /> This Ordinance and the rights and obligations of the City <br /> and the owners of the bonds herein authorized may be modified or <br /> amended at any time by supplemental ordinances adopted by the City <br /> with the consent of the owners of the bonds herein authorized <br /> holding sixty-six and two-thirds percent (66 2/3%) in aggregate <br /> principal amount of the outstanding bonds herein authorized <br /> (exclusive of any such bonds owned by the City) ; provided, however, <br /> that no such modification or amendment shall, without the express <br /> consent of the owners of the bonds herein authorized, reduce the <br /> interest rate or any redemption premium payable thereon, advance <br /> the earliest redemption date, extend the maturity or the times for <br /> paying interest on any bond or bonds herein authorized, permit a <br /> privilege or priority of any bond or bonds herein authorized, <br /> permit a privilege or priority of any bond or bonds herein <br /> authorized over any other bond or bonds herein authorized, create <br /> a lien securing any bonds herein authorized other than a lien <br /> ratably securing all of the outstanding bonds herein authorized, <br /> change the monetary medium in which principal and interest is <br /> payable, or reduce the aggregate principal amount of bonds required <br /> for consent required for amendment or modification of this <br /> Ordinance. <br /> Any act done pursuant to a modification or amendment so <br /> consented to shall be binding upon all the owners of the bonds <br /> herein authorized and shall not be deemed an infringement of any <br /> of the provisions of this Ordinance or of the Act, and may be done <br /> and performed as fully and as freely as if expressly permitted by <br /> the terms of this Ordinance, and, after such consent relating to <br /> such specified matters has been given, no owner shall have any <br /> right or interest to object to such action or in any manner to <br /> question the propriety thereof or to enjoin or restrain the City <br /> or any officer thereof from taking any action pursuant thereto. <br /> If the City shall desire to obtain any such consent, it <br /> shall cause the Registrar and Paying Agent to mail a notice, <br /> postage prepaid, to the respective owners of the Bonds herein <br /> authorized at their addresses appearing on the registration books <br /> of the Registrar and Paying Agent. Such notice shall briefly set <br /> 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 <br /> and Paying Agent for inspection by all owners of the Bonds herein <br /> authorized. The Registrar and Paying Agent shall not, however, be <br /> 24 <br />
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