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<br />(e) The provlslOns of this Article may be amended by the City from tIme to tIme to adapt to
<br />changed CIrcumstances that anse from a change 10 legal reqUIrements, a change 10 law, or a change 10 the
<br />IdentIty, nature, status, or type of operatlOns of the City, but only If (1) the provIsions of this Article, as so
<br />amended, would have permitted an underwnter to purchase or sell Certificates 10 the pnmary offering of the
<br />Certificates 10 complIance With the Rule, tak10g into account any amendments or 1OterpretatlOns of the Rule
<br />to the date of such amendment, as well as such changed cIrcumstances, and (2) either' (a) the Owners of a
<br />maJonty 10 aggregate principal amount (or any greater amount required by any other provlslOn of thiS
<br />Ord1Oance that authonzes such an amendment) of the Outstand1Og Certificates consent to such amendment or
<br />(b) a person that IS unaffilIated with the City (such as natlOnally recogmzed bond counsel) determ10es that such
<br />amendment will not matenally ImpaIr the 10terests of the Owners and beneficial owners of the Certificates
<br />The City may also repeal or amend the provlSlons of this Article If the SEC amends or repeals the applIcable
<br />provlslOns of the Rule or any court of final JunsdlctIon enters Judgment that such provIsions of the Rule are
<br />1OvalId, but in either case only If and to the extent that the provislOns of thiS sentence would not prevent an
<br />underwnter from lawfully purchas10g or sellIng Certificates 10 the primary offer1Og of the Certificates If the
<br />City so amends the provlslOns of thiS Article, It shall include with any amended financial 1OformatlOn or
<br />operat1Og data next provided 10 accordance with SectlOn 12 02 an explanation, 10 narrative form, ofthe reasons
<br />for the amendment and of the Impact of any change 10 the type of financial 1OformatIon or operat1Og data so
<br />provided.
<br />
<br />ARTICLE XIII
<br />
<br />AMENDMENTS, FURTHER PROCEDURES, AND SEVERABILITY
<br />
<br />Section 13 01 Amendments
<br />
<br />ThiS Ord1Oance shall not be amended or repealed by the City while any Certificate rema10s
<br />outstanding, except as permitted by thiS Section. The City, without the consent of or notice to any Owner,
<br />from time to tIme and at any tIme, may amend thiS Ordmance in any manner not detnmental to the mterests
<br />of the Owners, mcludmg the curmg of any ambiguity, mconslstency, or formal defect or omission herem. In
<br />addltlOn, the City, with the wntten consent of Owners holdmg a maJonty m aggregate pnnclpal amount of the
<br />Certificates then outstandmg affected thereby, may amend, add to, or rescmd any of the provlslOns of this
<br />Ordmance, proVided that, without the consent of all Owners of then outstandmg Certificates, no such
<br />amendment, additIon, or reClSSlOn shall (i) extend the tIme or times of payment of the pnnclpal of and mterest
<br />on the Certificates, reduce the pnnclpal amount thereof, redemptlOn pnce therefor, or the rate of mterest
<br />thereon, or m any other way modify the terms of payment of the prinCipal of or mterest on the Certificates, (ii)
<br />gIVe any preference to any Certificate over any other Certificate, or (iii) reduce the aggregate prinCipal amount
<br />of Certificates reqUired for consent to any such amendment, additIon, or reClSSlOn.
<br />
<br />SectlOn 13 02 Further Procedures
<br />
<br />The officers and employees of the City are hereby authonzed and directed from tIme to tIme and at any
<br />time to do and perform all such acts and thmgs and to execute, acknowledge and delIver m the name and on
<br />behalf of and under the corporate seal of the City all such mstruments, whether mentlOned herein or not, as may
<br />be necessary or deSirable m order to carry out the terms and prOVIsions of thiS Ordmance, the mltIal sale and
<br />delIvery of the Certificates, the Paymg Agent/Registrar Agreement, and the OffiCial Statement. In addltlOn,
<br />pnor to the mltIal delIvery of the Certificates, the Mayor, the CIty Manager or DIrector of Finance of the CIty,
<br />and Certificate Counsel are hereby authonzed and directed to approve any teclmlcal changes or correctIons to
<br />thIS Ordmance or to any of the instruments authonzed and approved by this Ordinance necessary in order to
<br />
<br />San Marcos CTRCO 2007. Ordinance
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