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9767-07 Amend Ordinance # 9672-06
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9767-07 Amend Ordinance # 9672-06
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Last modified
9/24/2009 3:23:17 PM
Creation date
10/2/2007 9:55:14 AM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
6/25/2007
Ord-Res Number
9767-07
Bill Number
37-07
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The Common Council reserves the right, however, to amend this Ordinance from time <br />to time to preserve the Tax Exemption described in Section XIX hereof without the approval of any <br />owner of the bonds so long as the Common Council certifies that such amendment does not violate <br />subsection (i) of Section XVII. <br />is amended by replacing the sentence with the following: <br />The Common Council reserves the right, however, to amend this Ordinance from time <br />to time to preserve the Tax Exemption described in Section. XIX hereof without the approval of any <br />owner of the bonds so long as the Common Council certifies that such amendment does not violate <br />subsection (i) of Section XVII, provided, however, that if the Bonds are sold to the Authority as part <br />of its SRF Program, the City shall obtain the prior written consent of the Authority. <br />Section 4. The section of the Bond Ordinance labeled Section XVII. Additional <br />Covenants of the City. shall be amended to include a new subsection (j), which will read as follows: <br />(j) If the. Bonds are sold to the Authority as part of its SRF <br />Program, the City shall not borrow any money, enter into any contract or <br />agreement or incur any other liabilities in connection with the Sewage Works, <br />other than for normal operating expenditures, without the prior written <br />consent of the Authority if such undertaking would involve, commit, or use <br />the revenues of the Sewage Works. <br />Section 5. This Ordinance shall be in full force and effect from and upon <br />compliance with the procedures required bylaw. <br />~**** <br />BDDBOI 4779285v1 - 3 - <br />
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