Construction of Additions and Improvements to the Sewage Works Bonds

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office of the Registrar and Paying Agent for inspection by all owners of the bonds herein authorized. The Registrar and Paying Agent shall not, however, be subject to any liability to any owners of the bonds herein authorized by reason of its failure to mail the notice described in this Section 24, and any such failure shall not affect the validity of such supplemental ordinance when consented to and approved as provided in this Section 24. Whenever at any time within one (1) year after the date of the mailing of such notice, the City shall receive an instrument or instruments purporting to be executed by the owners of the bonds herein authorized of not less than sixty percent (60%) in aggregate principal amount of the bonds herein authorized then outstanding (exclusive of bonds herein authorized, if any, owned by the City) , which instrument or instruments shall refer to the proposed supplemental ordinance described in such notice and shall specifically consent to and approve the adoption thereof in substantially the form of the copy thereof referred to in such notice as on file with the Registrar and Paying Agent thereupon, but not otherwise, the City may adopt such supplemental ordinance in substantially such form, without liability or responsibility to any owners of the bonds herein authorized, whether or not such owner shall have consented thereto. If AMBAC Indemnity Corporation or any other municipal bond insurance company agrees to insure the bonds herein authorized, whenever in this Ordinance the consent of and notice to any owners of the bonds herein authorized is required, the consent of and notice to AMBAC Indemnity Corporation, One State Street Plaza, New York, New York, 10004, or such other insurer shall also be required. Upon the adoption of any supplemental ordinance pursuant to the provisions of this Section 24, this Ordinance shall be, and be deemed to be , modified and amended in accordance therewith, and the respective rights, duties and obligations under this Ordinance shall thereafter be determined, exercised and enforced hereunder, subject in all, respects to such modifications and amendments. Section 25. If any section, paragraph or provision of this Ordinance shall be held to be invalid or unenforceable for any reason the invalidity or unenforceability of such section, paragraph or provision shall not affect any of the remaining provisions of this Ordinance. Section 26. If the date of making any payment or the last date for performance of any act or the exercising of any right, as provided in this Ordinance, shall be a legal holiday or a day on which banking institutions in the City or the city in which the Registrar and Paying Agent is located are typically closed, such payment may be made or act performed or right exercised on the next succeeding day not a legal holiday or a day on which such banking institutions are typically closed, with the same force and effect as if done on the nominal date provided in this Ordinance, and no interest shall accrue for the period after such nominal date. -33-