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9951-09 Authorizing the aquisitions, constructions and installation of certain improvements and extensions
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9951-09 Authorizing the aquisitions, constructions and installation of certain improvements and extensions
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Last modified
12/3/2009 11:51:05 AM
Creation date
8/20/2009 12:22:25 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
8/10/2009
Ord-Res Number
9951-09
Bill Number
56-09
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(vi) To accomplish any other purpose which, in the judgment of the <br />City, does not adversely affect the interests of the owners of the Bonds or BANS; <br />provided, however, that if the Bonds or BANS are sold to the Authority, the City shall <br />obtain the prior written consent of the Authority. <br />Subject to the terms and provisions contained in this Section, and not <br />otherwise, the owners of not less than sixty-six and two-thirds percent (66-2/3%) in <br />aggregate principal amount of the Bonds issued pursuant to this Ordinance and then <br />outstanding shall have the right, from time to time, anything contained in this Ordinance <br />to the contrary notwithstanding, to consent to and approve the adoption by the City of <br />such ordinance or ordinances supplemental hereto as shall be deemed necessary or <br />desirable by the City for the purpose of modifying, altering, amending, adding to or <br />rescinding in any particular any of the terms or provisions contained in this Ordinance, or <br />in any supplemental ordinance; provided, however, that if the Bonds are sold to the <br />Authority, the City shall obtain the prior written consent of the Authority; and provided, <br />further, that nothing herein contained shall permit or be construed as permitting: <br />(a) A reduction in the Reserve Requirement; or <br />(b) An extension of the maturity of the principal of or interest on any <br />Bond issued pursuant to this Ordinance; or <br />(c) A reduction in the principal amount of any bond or the redemption <br />premium or the rate of interest thereon; or <br />(d) The creation of a lien upon or a pledge of the net revenues of the <br />sewage works ranking prior to the pledge thereof created by this Ordinance; or <br />-48- <br />BDDBOI 5738468v1 <br />
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