08-10-09 Common Council Meeting Agenda & Packet

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provided, however, that if the Bonds or BANS are sold to the Authority, the City shall obtain the prior written consent of the Authority. Subject to the terms and provisions contained in this Section, and not otherwise, the owners of not 1Pss than sixty-six and two-thirds percent (66-2/3%) in aggregate principal. amount of the Bonds issued pursuant to this Ordinance and then outstanding shall have the right, from time to time, anything contavned in this Ordinance to the contrary notwithstanding, to consent to and approve the adoption by the City of such ordinance or ordinances supplemental hereto as shall be deemed necessary or desirable by the City for the purpose of modifying, altering, amending, adding to or rescinding in any particular any of the terms or provisions contained in this Ordinance, or in any supplemental ordinance; provided, however, that if the Bonds are sold to the Authority, the City shall obtain the prior written consent of the Authority; and provided, further, that nothing herein contained shall permit or be construed as permitting: (a) A reduction in the Reserve Requirement; or (b) An extension of the maturity of the principal of or interest on any Bond issued pursuant to this Ordinance; or (c) A reduction in the principal amount of any bond or the redemption premium or the rate of interest thereon; or (d) The creation of a lien upon or a pledge of the net revenues of the sewage works ranking prior to the pledge thereof created by this Ordinance; or (e) A preference or priority of any Bond or Bonds issued pursuant to this Ordinance over any other Bond or Bonds issued pursuant to the provisions of this Ordinance; or -48- BDDBOI 5738468v1