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Authorizing the Issuance of Bonds - EDIT 2015, Smart Streets $25 Million
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Authorizing the Issuance of Bonds - EDIT 2015, Smart Streets $25 Million
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Last modified
2/6/2015 4:15:16 PM
Creation date
2/6/2015 4:14:43 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
1/26/2015
Ord-Res Number
10346-15
Bill Number
01-15
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which instrument or instruments shall refer to the proposed supplemental <br />ordinance described in such notice, and shall specifically consent to and approve <br />the adoption thereof in substantially the form of the copy thereof referred to in <br />such notice as on file with the Registrar, thereupon, but not otherwise, the Council <br />may adopt such supplemental ordinance in substantially such form, without <br />liability or responsibility to any owners of the Bonds, whether or not such owners <br />shall have consented thereto. <br />No owner of any Bond shall have any right to object to the adoption of <br />such supplemental ordinance or to object to any of the terms and provisions <br />contained therein or the operation thereof, or in any manner to question the <br />propriety of the adoption thereof, or to enjoin or restrain the City or its officers <br />from adopting the same, or from taking any action pursuant to the provisions <br />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 <br />and amended in accordance therewith, and the respective rights, duties and <br />obligations under this Ordinance of the City and all owners of Bonds then <br />outstanding shall thereafter be determined, exercised and enforced in accordance <br />with this Ordinance, subject in all respects to such modifications and <br />amendments. <br />Notwithstanding anything contained in the foregoing provisions of this <br />Ordinance, the rights, duties and obligations of the City and of the owners of the <br />Bonds, and the terms and provisions of the Bonds and this Ordinance, or any <br />supplemental ordinance, may be modified or amended in any respect with the <br />consent of the City and the consent of the owners of all the Bonds then <br />outstanding. <br />Without notice to or consent of the owners of the Bonds, the City may, <br />from time to time and at any time, adopt such ordinances supplemental hereto as <br />shall not be inconsistent with the terms and provisions hereof (which <br />supplemental ordinances shall thereafter form a part hereof), <br />(a) To cure any ambiguity or formal defect or omission <br />in this Ordinance or in any supplemental ordinance; or <br />(b) To grant to or confer upon the owners of the Bonds <br />any additional rights, remedies, powers, authority or security that <br />may lawfully be granted to or conferred upon the owners of the <br />Bonds; or <br />(c) To procure a rating on the Bonds from a nationally <br />recognized securities rating agency designated in such <br />supplemental ordinance, if such supplemental ordinance will not <br />adversely affect the owners of the Bonds; or <br />12 <br />
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