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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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(e) A preference or priority of any Bond or Bonds issued pursuant to <br />this Ordinance over any other Bond or Bonds issued pursuant to the provisions of this <br />Ordinance; or <br />(f) A reduction in the aggregate principal amount of the Bonds <br />required for consent to such supplemental ordinance. <br />The owners of not less than sixty-six and two-thirds percent (66-2/3%) in <br />aggregate principal amount of the Bonds outstanding at the time of adoption of such <br />supplemental ordinance shall have consented to and approved the adoption thereof by written <br />instrument to be maintained on file in the office of the Controller of the City. No owner of any <br />Bond issued pursuant to this Ordinance 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 City or its officers from adopting the same, or from taking any action pursuant to <br />the provisions 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 and amended <br />in accordance therewith, and the respective rights, duties and obligations under this Ordinance of <br />the City and all owners of Bonds issued pursuant to the provisions of this Ordinance then <br />outstanding, shall thereafter be determined, exercised and enforced in accordance with this <br />Ordinance, subject in all respects to such modifications and amendments. Notwithstanding <br />anything contained in the foregoing provisions of this Ordinance, the rights and obligations of <br />the City and of the owners of the Bonds authorized by this Ordinance, and the terms and <br />provisions of the bonds and this Ordinance, or any supplemental ordinance, may be modified or <br />-49- <br />BDDBOI 5738468v1 <br />
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