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10190-12 Refinance Waterworks revenue of 2002
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10190-12 Refinance Waterworks revenue of 2002
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Last modified
10/12/2012 12:35:11 PM
Creation date
10/12/2012 12:35:02 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
10/8/2012
Ord-Res Number
10190-12
Bill Number
53-12
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(d) A preference or priority of any 2012 Bond over any other 2012 Bond, <br /> without the consent of the holders of all 2012B Bonds then outstanding; or <br /> (e) A reduction in the aggregate principal amount of the 2012B Bonds <br /> required for consent to such supplemental ordinance, without the consent of the holders of all <br /> 2012B Bonds then outstanding. <br /> If the City shall desire to obtain any such consent, it shall cause the Registrar to mail a <br /> notice, postage prepaid, to the addresses appearing on the Registration Record. Such notice shall <br /> briefly set forth the nature of the proposed supplemental ordinance and shall state that a copy <br /> thereof is on file at the office of the Registrar for inspection by all owners of the 2012B Bonds. <br /> The Registrar shall not, however, be subject to any liability to any owners of the 2012B Bonds <br /> by reason of its failure to mail such notice, and any such failure shall not affect the validity of <br /> such supplemental ordinance when consented to and approved as herein provided. <br /> Whenever at any time within one year after the date of the mailing of such notice, the <br /> City shall receive any instrument or instruments purporting to be executed by the owners of the <br /> 2012B Bonds of not less than a majority in aggregate principal amount of the 2012B Bonds then <br /> outstanding, which instrument or instruments shall refer to the proposed supplemental ordinance <br /> described in such notice, and shall specifically consent to and approve the adoption thereof in <br /> substantially the form of the copy thereof referred to in such notice as on file with the Registrar, <br /> thereupon, but not otherwise, the City may adopt such supplemental ordinance in substantially <br /> such form,without liability or responsibility to any owners of the 2012B Bonds, whether or not <br /> such owners shall have consented thereto. <br /> No owner of any 2012 Bond shall have any right to object to the adoption of such <br /> supplemental ordinance or to object to any of the terms and provisions contained therein or the <br /> operation thereof, or in any manner to question the propriety of the adoption thereof, or to enjoin <br /> or restrain the Council from adopting the same, or from taking any action pursuant to the <br /> provisions thereof. Upon the adoption of any supplemental ordinance pursuant to the provisions <br /> of his section, this Ordinance shall be, and shall be deemed, modified and amended in <br /> accordance therewith, and the respective rights, duties and obligations under this Ordinance of <br /> the City and all owners of 2012B Bonds then outstanding shall thereafter be determined, <br /> exercised and enforced in accordance with this Ordinance, subject in all respects to such <br /> modifications and amendments. <br /> Notwithstanding anything contained in the foregoing provisions of this Ordinance, the <br /> rights and obligations of the City and of the owners of the 2012B Bonds, and the terms and <br /> provisions of the 2012B Bonds and this Ordinance, or any supplemental ordinance, may be <br /> modified or amended in any respect with the consent of the City and the consent of the owners of <br /> all the 2012B Bonds then outstanding. <br /> SECTION 23. Amendments Without Consent of Bondholders. The Council may, <br /> from time to time and at any time, and without notice to or consent of the owners of the 2012B <br /> Bonds, adopt such ordinances supplemental hereto (which supplemental ordinances shall <br /> thereafter form a part hereof): <br /> - 26 - <br />
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