Authorizing the Issuance of Bonds - EDIT 2015, Smart Streets $25 Million

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updated by the Certifier as of the date of issuance of the Additional Bonds or Junior Bonds. In the event the Additional Bonds are issued to refund currently outstanding Bonds or Additional Bonds, and each payment of principal and interest on the Additional Bonds is equal to or lesser than the amount due on the bonds being refunded, the certificate required by paragraph (c) above shall not be required. SECTION 11. Amendments. Subject to the terms and provisions contained in this section, and not otherwise, the owners of not less than sixty -six and two - thirds percent (66 -2/3 %) in aggregate principal amount of the Bonds then outstanding shall have the right, from time to time, to consent to and approve the adoption by the Council of such ordinance or ordinances supplemental hereto as shall be deemed necessary or desirable by the City for the purpose of amending in any particular any of the terms or provisions contained in this Ordinance, or in any supplemental ordinance; provided, however, that nothing herein contained shall permit or be construed as permitting: (a) An extension of the maturity of the principal of or interest or premium, if any, on any Bond or an advancement of the earliest redemption date on any Bond, without the consent of the holder of each Bond so affected; or (b) a reduction in the principal amount of any Bond or the redemption premium or rate of interest thereon, or a change in the monetary medium in which such amounts are payable, without the consent of the holder of each Bond so affected; or (c) a preference or priority of any Bond over any other Bond, without the consent of the holders of all Bonds then outstanding; or (d) a reduction in the aggregate principal amount of the Bonds required for consent to such supplemental ordinance, without the consent of the holders of all Bonds then outstanding. If the City shall desire to obtain any such consent, it shall cause the Registrar to mail a notice, postage prepaid, to the addresses appearing on the Registration Record. 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 office of the Registrar for inspection by all owners of the Bonds. The Registrar shall not, however, be subject to any liability to any owners of the Bonds by reason of its failure to mail such notice, and any such failure shall not affect the validity of such supplemental ordinance when consented to and approved as herein provided. Whenever at any time within one year after the date of the mailing of such notice, the City shall receive any instrument or instruments purporting to be executed by the owners of the Bonds of not less than sixty -six and two - thirds per cent (66 -2/3 %) in aggregate principal amount of the Bonds then outstanding, 11