Ord 1986-125 - Laserfiche WebLink

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Bonds and Additional Bonds and all future Additional Bonds shall thereafter be determined, exercised and enforced hereunder, subject in all respects to such amendments. (e) Any consent given by the holder of a Bond or Additional Bond pursuant to the provisions of this Section shall be irrevocable for a period of six months from the date of the first publication of the notice provided for in this Section, and shall be conclusive and binding upon all future holders of the same Bond or Additional Bond, or Bond or Additional Bond issued in the transfer, exchange or replacement of such Bond or Additional Bond, during such period. Such consent may be revoked at any time after six months from the date of the first publication of such notice by the Holder who gave such consent, or by a successor in title, by filing notice thereof with the Paying Agent/Registrar and the City, but such revocation shall not be effective if the Holders of 51 % in aggregate principal amount of the then outstanding Bonds and Additional Bonds as in this Section defined have, prior to the attempted revocation, consented to and approved the amendment. (0 Notwithstanding any provision of this Section 27 to the contrary, however, while any policy of municipal bond guaranty insurance is in effect with respect to payment of principal of or interest on the bonds, either or both, no such amendment shall be valid or effective unless such amendment shall have been approved by the insurer named in each such policy. (g) The foregoing provisions of this section notwithstanding, the City by action of the City Council may amend this Ordinance for anyone or more of the following purposes: (1) To add to the covenants and agreements of the City contained in this Ordinance, other covenants and agreements thereafter to be observed, grant additional rights or remedies to bondholders or to surrender, restrict or limit any right or power herein reserved to or conferred upon the City; (2) To make such provisions for the purpose of curing any ambiguity, or curing, correcting or supplementing any defective provisions contained in this Ordinance, or in regard to clarifying matters or questions arising under this Ordinance, as are necessary or desirable and not contrary to or inconsistent with this Ordinance and which shall not adversely affect the interests or the Holders of the Bonds of Additional Bonds; (3) To modify any of the provisions of this Ordinance in any other respect whatever, provided that (i) such modification shall be, and be expressed to be, effective only after all Bonds and each series of Additional Bonds outstanding at the date of the adoption of such modification shall cease to be outstanding, and (ii) such modification shall be specifically referred to in the text of all Additional Bonds issued after the date of the adoption of such modification. Section 28. NOTICES TO HOLDERS; WAIVER. (a) Wherever this Ordinance provides for notice to Holders of any event, such notice shall be sufficiently given (unless otherwise herein expressly provided) if in writing and sent by United States mail, first class postage prepaid, to the address of each Holder entitled to receive such notice as it appears in the Registration Books. In any case where notice to Holders is given by mail, neither the failure to mail such notice to any particular Holder, nor any defect in any notice so mailed, shall affect the sufficiency of such notice with respect to all other Holders. 1O37f -31-