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Authorizing the Issuance of Revenue Bonds re: improvements to the Waterworks, not to exceed Twenty-Two Million Five hundred thousand dollars (22,500,000); including the issuance of notes in anticipation of Bonds.
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Authorizing the Issuance of Revenue Bonds re: improvements to the Waterworks, not to exceed Twenty-Two Million Five hundred thousand dollars (22,500,000); including the issuance of notes in anticipation of Bonds.
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9/24/2009 2:28:11 PM
Creation date
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
6/23/1997
Ord-Res Number
8801-97
Bill Number
52-97
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(d) A preference or priority of any 1997 Bond over any other 1997 <br />Bond, without the consent of the holders of all 1997 Bonds then outstanding; or <br />(e) A reduction in the aggregate principal amount of the 1997 Bonds <br />required for consent to such supplemental ordinance, without the consent of the <br />holders of all 1997 Bonds then outstanding. <br />If the City shall desire to obtain any such consent, it shall cause the Registrar to <br />mail a notice, postage prepaid, to the addresses appearing on the Registration Record. Such notice <br />shall 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 1997 Bonds. <br />The Registrar shall not, however, be subject to any liability to any owners of the 1997 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, <br />the City shall receive any instrument or instruments purporting to be executed by the owners of <br />the 1997 Bonds of not less than sixty-six and two-thirds per cent (66-2/3%) in aggregate principal <br />amount of the 1997 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 owners <br />of the 1997 Bonds, whether or not such owners shall have consented thereto. <br />No owner of any 1997 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 Council from adopting the same, or from taking any action pursuant to the <br />provisions thereof. Upon the adoption of any supplemental ordinance pursuant to the provisions <br />of his section, this Ordinance shall be, and shall be deemed, modified and amended in accordance <br />therewith, and the respective rights, duties and obligations under this Ordinance of the City and <br />all owners of 1997 Bonds then outstanding shall thereafter be determined, exercised and enforced <br />in accordance with this Ordinance, subject in all respects to such modifications and amendments. <br />Notwithstanding anything contained in the foregoing provisions of this Ordinance, <br />the rights and obligations of the City and of the owners of the 1997 Bonds, and the terms and <br />_ provisions of the 1997 Bonds and this Ordinance, or any supplemental ordinance, may be <br />modified or amended in any respect with the consent of the City and the consent of the owners <br />of all the 1997 Bonds then outstanding. <br />SECTION 23. Amendments~ithout~onsent~fBnndhQlde~s. The Council may, <br />from time to time and at any time, and without notice to or consent of the owners of the 1997 <br />-24- <br />
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