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Improvements to Municipal Sewage Works Issurance of Revenue Bonds $15,075,000
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Improvements to Municipal Sewage Works Issurance of Revenue Bonds $15,075,000
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Last modified
4/24/2013 2:54:09 PM
Creation date
4/16/2013 11:41:00 AM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
4/8/2013
Ord-Res Number
10226-13
Bill Number
12-13
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terms or provisions contained in this Ordinance, or in any supplemental ordinance; provided, <br />however, that 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 2013A Bond or an advancement of the earliest redemption date on any 2013A Bond; <br />or <br />(b) A reduction in the principal amount of any 2013A Bond or the redemption <br />premium or the rate of interest thereon, or a change in the monetary medium in which such <br />amounts are payable; or <br />(c) The creation of a lien upon or a pledge of the revenues of the Sewage <br />Works ranking prior to the pledge thereof created by this Ordinance; or <br />(d) A preference or priority of any 2013A Bond or 2013A Bonds over any <br />other 2013A Bond or 2013A Bonds; or <br />(e) A reduction in the aggregate principal amount of the 2013A Bonds <br />required for consent to such supplemental ordinance. <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 books held by the <br />Registrar. Such notice shall briefly set forth the nature of the proposed supplemental ordinance <br />and shall state that a copy thereof is on file at the office of the Registrar for inspection by all <br />owners of the 2013A Bonds. The Registrar shall not, however, be subject to any liability to any <br />owners of the 2013A Bonds by reason of its failure to mail such notice, and any such failure <br />shall not affect the validity of such supplemental ordinance when consented to and approved as <br />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 />2013A Bonds of not less than sixty -six and two - thirds per cent (66 -2/3 %) in aggregate principal <br />amount of the 2013A Bonds then outstanding, which instrument or instruments shall refer to the <br />proposed supplemental ordinance described in such notice, and shall specifically consent to and <br />approve the adoption thereof in substantially the form of the copy thereof referred to in such <br />notice as on file with the Registrar, thereupon, but not otherwise, the City may adopt such <br />supplemental ordinance in substantially such form, without liability or responsibility to any <br />owners of the 2013A Bonds, whether or not such owners shall have consented thereto. <br />No owner of any 2013A 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 City or its officers from adopting the same, or from taking any action pursuant to <br />the provisions thereof. Upon the adoption of any supplemental ordinance pursuant to the <br />provisions of this section, this Ordinance shall be, and shall be deemed, modified and amended <br />in accordance therewith, and the respective rights, duties and obligations under this Ordinance of <br />the City and all owners of 2013A Bonds then outstanding, shall thereafter be determined <br />exercised and enforced in accordance with this Ordinance, subject in all respects to such <br />EVIE <br />
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