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Municipal Waterworks Revenue Bonds
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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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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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•. ti <br /> subject to any liability to any owners of the Bonds herein <br /> authorized by reason of its failure to mail the notice described <br /> in this Section 24, and any such failure shall not affect the <br /> validity of such supplemental ordinance when consented to and <br /> approved as provided in this Section 24. <br /> Whenever, at any time within one (1) year after the date <br /> of the mailing of such notice, the City shall receive an instrument <br /> or instruments purporting to be executed by the owners of the Bonds <br /> herein authorized of not less than sixty-six and two-thirds percent <br /> (66 2/3%) in aggregate principal amount of the bonds herein <br /> authorized and then outstanding (exclusive of any such bonds owned <br /> by the City) , which instrument or instruments shall refer to the <br /> proposed supplemental ordinance described in such notice and shall <br /> specifically consent to and approve the adoption thereof in <br /> substantially the form of the copy thereof referred to in such <br /> notice as on file with the Registrar and Paying Agent thereupon, <br /> but not otherwise, the City may adopt such supplemental ordinance <br /> in substantially such form, without liability or responsibility to <br /> any owners of the Bonds herein authorized, whether or not such <br /> owner shall have consented thereto. <br /> Upon the adoption of any supplemental ordinance pursuant <br /> to the provisions of this Section 23, this Ordinance shall be, and <br /> be deemed to be, modified and amended in accordance therewith, and <br /> the respective rights, duties and obligations under this Ordinance <br /> shall thereafter be determined, exercised and enforced hereunder, <br /> subject in all respects to such modifications and amendments. <br /> Section 25. Rates and Charges. The estimate of the <br /> rates and charges which will be needed and charged to the general <br /> classes of users or property to be served by the Waterworks in <br /> order to provide sufficient moneys to make payments of principal <br /> of and interest on the Bonds and other bonds which by their terms <br /> are payable from the revenues of the Waterworks, as described <br /> herein, along with the other payments identified in this Ordinance, <br /> is set forth in Ordinance No. 8305-92 entitled "AN ORDINANCE OF THE <br /> COMMON COUNCIL OF THE CITY OF SOUTH BEND ESTABLISHING A NEW <br /> SCHEDULE OF RATES AND CHARGES FOR SERVICES RENDERED BY THE CITY OF <br /> SOUTH BEND WATER WORKS AND THE AMENDING OF CHAPTER 17, ARTICLE 4, <br /> SECTIONS 17-45, 17-46, 17-47, 17-48 OF THE SOUTH BEND MUNICIPAL <br /> CODE" adopted by the Common Council on October 12, 1992. <br /> Section 26. Payments on Holidays. If the date of making <br /> any payment or the last date for performance of any act or the <br /> exercising of any right, as provided in this Ordinance, shall be <br /> a legal holiday or a day on which banking institutions in the City <br /> in which the Registrar and Paying Agent is located are typically <br /> closed, such payment may be made or act performed or right <br /> exercised on the next succeeding day not a legal holiday or a day <br /> on which such banking institutions are typically closed, with the <br /> same force and effect as if done on the actual date established in <br /> 25 <br />
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