9672-06 Authorizing the Acquistion and Installation of Improvements to the City's Sewage Works

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(b) A reduction in the principal amount of any bond or the redemption premium or the rate of interest thereon; or (c) 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 (d) 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 (e) A reduction in the aggregate principal amount of the Bonds required for consent to such supplemental ordinance. The owners of not less than sixty-six and two-thirds percent (66-2/3%) in aggregate principal amount of the Bonds outstanding at the time of adoption of such supplemental ordinance shall have consented to and approved the adoption thereof by written instrument to be maintained on file in the office of the Controller of the City. No owner of any Bond issued pursuant to this Ordinance shall have any right to object to the adoption of such supplemental ordinance or to object to any of the terms and provisions contained therein or the operation thereof, or in any manner to question the propriety of the adoption thereof, or to enjoin or restrain the City or its officers from adopting the same, or from taking any action pursuant to the provisions thereof. Upon the adoption of any supplemental ordinance pursuant to the provisions of this Section, this Ordinance shall be, and shall be deemed, modified and amended in accordance therewith, and the respective rights, duties and obligations under this Ordinance of the City and all owners of Bonds issued pursuant to the provisions of this Ordinance then outstanding, shall thereafter be determined, exercised and enforced in accordance with this Ordinance, subject in all respects to such modifications and amendments. Notwithstanding anything contained in the foregoing provisions of this Ordinance, the rights and obligations of the City and of the owners of the Bonds authorized by this Ordinance, and the terms and provisions of the bonds and this Ordinance, or any supplemental ordinance, may be modified or altered in any respect with the consent of the City and the consent of the owners of all the Bonds issued pursuant to this Ordinance then outstanding. Section XXII. Repeal of Conflicting Ordinances. All ordinances and parts of ordinances in conflict herewith are hereby repealed. Section XXIII. Rates and Charges. The estimate of rates and charges which will be needed and charged to the general classes of users of property to be served by the Sewage Works in order to provide sufficient moneys to make payments of principal of and interest on the Bonds, along with the other payments identified in this Ordinance, is set forth in Ordinance No. 9639-05, adopted November 28, 2005. Section XXIV. Notice of Adoption and Purport of Ordinance. Upon passage of this Ordinance, the Clerk of the City shall immediately cause to be published in accordance with Indiana Code 5-3-1 a notice of the adoption and the purport of this Ordinance in accordance with Section 10 of the Act with respect to the Project. In the event an objecting petition is filed in BDDBOI 4347413v2 - 21 -