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the 2009A Bonds remain outstanding and owned by the Authority, the City shall obtain the prior
<br /> written consent of the Authority.
<br /> (i) The provisions of this Ordinance shall be construed to create a trust in the
<br /> proceeds of the sale of the BANs and the Bonds for the uses and purposes herein set forth, and the
<br /> owners of the Bonds shall retain a lien on such proceeds until the same are applied in accordance
<br /> with the provisions of this Ordinance and the Act. The provisions of this Ordinance shall also be
<br /> construed to create a trust in the Net Revenues herein directed to be set apart and paid into the
<br /> Sinking Fund for the uses and purposes of that Fund as set forth in this Ordinance. The owners of
<br /> the BANs and the Bonds shall have all the rights, remedies and privileges set forth in the Act,
<br /> including the right to have a receiver appointed to administer the System, in the event of default
<br /> in the payment of the principal of or interest on any of the Bonds. Upon the appointment of such
<br /> receiver, the receiver may: (i) charge and collect rates sufficient to provide for the payment of the
<br /> expenses of the operation, repair and maintenance of the System and debt service as provided in
<br /> the next following clause; (ii) pay the interest on the BANs or the principal of, premium, if any,
<br /> and interest on any bonds payable from Net Revenues; and (iii) apply the revenues of the System
<br /> in conformity with the Act and this Ordinance.
<br /> In addition,any owner of the BANs and the Bonds may,by civil action,protect and enforce
<br /> rights granted by the Act or under this Ordinance in connection with any action or duty to be
<br /> performed by the City,the Common Council, or any Officer of the City,including the making and
<br /> collecting of reasonable and sufficient charges and rates for services provided by the System as
<br /> described in this Ordinance.
<br /> (j) For purpose of this Section, the term "lease" shall include any lease,
<br /> contract, or other instrument conferring a right upon the City to use property in exchange for a
<br /> periodic payments made from the revenues of the Waterworks, whether the City intends to cause
<br /> such to be, or by its terms (or its intended effects) is to be, (i) payable as rent, (ii) booked as an
<br /> expense or an expenditure, or (iii) classified for accounting or other purposes as a capital lease,
<br /> financing lease, operating lease, non-appropriation leases, installment purchase agreement or
<br /> lease, or otherwise(including any combination thereof).
<br /> SECTION XXIII. Amendments With Consent of Bondholders. Subject to the terms
<br /> and provisions contained in this section and Sections XXII and XXIV,the owners of not less than
<br /> a majority in aggregate principal amount of the Bonds and then outstanding shall have the right,
<br /> from time to time, to consent to and approve the adoption by the Common Council of such
<br /> ordinance or ordinances supplemental hereto, as shall be deemed necessary or desirable by the
<br /> City for the purpose of amending in any particular any of the terms or provisions contained in this
<br /> Ordinance, or in any supplemental Ordinance; provided, however, that if the BANs or the Bonds
<br /> are sold to the Authority, the City shall obtain the prior written consent of the Authority; and
<br /> provided, further nothing herein contained shall permit or be construed as permitting:
<br /> (a) An extension of the maturity of the principal of or interest or premium, if
<br /> any,on any BAN or Bond or an advancement of the earliest redemption date on any BAN or Bond,
<br /> without the consent of the holder of each BAN or Bond so affected; or
<br /> (b) A reduction in the principal amount of any BAN or Bond, the redemption
<br /> premium, the Reserve Requirement therefor or the rate of interest thereon, or a change in the
<br /> monetary medium in which such amounts are payable, without the consent of the holder of each
<br /> BAN or Bond so affected; or
<br /> (c) The creation of a lien upon or a pledge of the Net Revenues ranking prior
<br /> to the pledge thereof created by this Ordinance, without the consent of the holders of all Bonds
<br /> then outstanding; or
<br /> (d) A preference or priority of any BAN or BANs over any other BAN or BANs
<br /> or of any Bond over any other Bond, without the consent of the holders of all Bonds then
<br /> outstanding; or
<br /> (e) A reduction in the aggregate principal amount of the Bonds required for
<br /> consent to such supplemental ordinance, without the consent of the holders of all Bonds then
<br /> outstanding.
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