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05-26-09 Common Council Meeting Agenda & Packet
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05-26-09 Common Council Meeting Agenda & Packet
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5/21/2009 4:06:32 PM
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City Council - City Clerk
City Council - Document Type
Agendas
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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 <br />of the 2009 Bonds shall have all the rights, remedies and privileges set forth in the Act. <br />SECTION 22. Amendments With Consent of Bondholders. Subject to the <br />terms and provisions contained in this section and Sections 21 and 23, the owners of not less than <br />a majority in aggregate principal amount of the 2009 Bonds and then outstanding shall have the <br />right, from time to time, to consent to and approve the adoption by the Council of such ordinance <br />or ordinances supplemental hereto, as shall be deemed necessary or desirable by the City for the <br />purpose of amending in any particular any of the terms or provisions contained in this Ordinance, <br />or in any supplemental Ordinance; provided, however, that if any portion of the 2009 Bonds are <br />sold to the Indiana Finance Authority through the SRF Program or to the Indiana Bond Bank, the <br />City shall obtain the prior written consent of the Indiana Finance Authority or the Indiana Bond <br />Bank, as the case may be; provided, further, that nothing herein contained shall permit or be <br />construed as permitting: <br />(a) An extension of the maturity of the principal of or interest or premium, if <br />any, on any 2009 Bond or an advancement of the earliest redemption date on any 2009 Bond, <br />without the consent of the holder of each 2009 Bond so affected; or <br />(b) A reduction in the principal amount of any 2009 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, without the consent of the holder of each 2009 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 2009 <br />Bonds then outstanding; or <br />(d) A preference or priority of any 2009 Bond over any other 2009 Bond, <br />without the consent of the holders of a112009 Bonds then outstanding; or <br />(e) A reduction in the aggregate principal amount of the 2009 Bonds required <br />for consent to such supplemental ordinance, without the consent of the holders of a112009 Bonds <br />then outstanding. <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 Record. Such notice shall <br />briefly set forth the nature of the proposed supplemental ordinance and shall state that a copy <br />thereof is on file at the office of the Registrar for inspection by all owners of the 2009 Bonds. <br />The Registrar shall not, however, be subject to any liability to any owners of the 2009 Bonds by <br />reason of its failure to mail such notice, and any such failure shall not affect the validity of such <br />supplemental ordinance when consented to and approved as 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 />2009 Bonds of not less than a majority in aggregate principal amount of the 2009 Bonds then <br />outstanding, which instrument or instruments shall refer to the proposed supplemental ordinance <br />-27- <br />
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