Construction of Additions and Improvements to the Sewage Works Bonds

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(c) To modify, amend or supplement this Ordinance to permit the qualification of the bonds herein authorized for sale under the securities laws of the United States of America or of any of the states of the United States of America or to obtain or maintain bond insurance with respect to payments of principal of and interest on bonds herein authorized; (d) To provide for the refunding or advance refunding of the bonds herein authorized; (e) To procure a rating on the bonds herein authorized from a nationally recognized securities rating agency designated in such supplemental ordinance if such supplemental ordinance will not adversely affect the owners of the bonds herein authorized; (f) Any other purpose which in the judgment of the City does not adversely impact the interest of the owners of the bonds herein authorized. This Ordinance and the rights and obligations of the City and the owners of the bonds herein authorized may be modified or ammended at any time by supplemental ordinances adopted by the City with the consent of the owners of the bonds herein authorized holding sixty percent (60%) in aggregate principal amount of the outstanding bonds herein authorized (exclusive of bonds herein authorized, if any, owned by the City) ; provided, however, that no such modification or amendment shall without the express consent of the owners of the bonds herein authorized affected, reduce the principal amount of any bonds herein authorized, reduce the interest rate payable thereon, advance the earliest redemption date, extend its maturity or the times for paying interest thereon, permit a privilege or priority of any bond or bonds herein authorized over any other bond or bonds herein authorized, create a lien securing any bonds herein authorized other than a lien ratably securing all of the bonds herein authorized outstanding, or change the monetary medium in which principal and interest is payable, nor shall any such modification or amendment reduce the percentage of consent required for amendment or modification. Any act done pursuant to a modification or amendment so consented to shall be binding upon all the owners of the bonds herein authorized and shall not be deemed an infringement of any of the provisions of this Ordinance or of the Act, and may be done and performed as fully and as freely as if expressly permitted by the terms of this Ordinance, and after such consent relating to such specified matters has been given, no owner shall have any right or interest to object to such action or in any manner to question the propriety thereof or to enjoin or restrain the City or any officer thereof from taking any action pursuant thereto. If the City shall desire to obtain any such consent, it shall cause the Registrar and Paying Agent to mail a notice, postage prepaid, to the respective owners of the bonds herein authorized at their addresses appearing on the Series 1989 Bond Register. Such notice shall briefly set forth the nature of the proposed supplemental ordinance and shall state that a copy thereof is on file at the -32-