Laserfiche WebLink
in effect, or (iv) make such other provisions in regard to matters or questions arising under this <br />Ordinance as shall not be inconsistent with the provisions of this Ordinance and that shall not in the <br />opinion of the City's Bond Counsel materially adversely affect the interests of the holders. <br />(b) Except as provided in paragraph (a) above, the Registered Owner shall have the right <br />from time to time to approve any amendment hereto that may be deemed necessary or desirable by <br />the City; provided, however, that without the consent of the Registered Owner, nothing herein <br />contained shall permit or be construed to permit amendment of the terms and conditions of this <br />Ordinance or in the Bond so as to: <br />(1) Make any change in the maturity of the Bond; <br />(2) Reduce the rate of interest borne by the Bond; <br />(3) Reduce the amount of the principal of, or redemption premium, if any, <br />payable on the Bond; <br />(4) Modify the terms of payment of principal or of interest or redemption <br />premium on the Bond or impose any condition with respect to such payment; or <br />(5) Change the requirement with respect to Registered Owner consent to such <br />amendment. <br />(c) If at any time the City shall desire to amend this Ordinance under this Section, the <br />City shall send by U.S. mail to the Registered Owner a copy of the proposed amendment. <br />(d) Whenever at any time within one year from the date of publication of such notice the <br />City shall receive an instrument or instruments executed by the Registered Owner, which instrument <br />or instruments shall refer to the proposed amendment and that shall specifically consent to and <br />approve such amendment, the City may adopt the amendment in substantially the same form. <br />(e) Upon the adoption of any amendatory ordinance pursuant to the provisions of this <br />Section, this Ordinance shall be deemed to be modified and amended in accordance with such <br />amendatory Ordinance, and the respective rights, duties, and obligations of the City and the <br />Registered Owner shall thereafter be determined, exercised, and enforced, subject in all respects to <br />such amendment. <br />(f) Any consent given by the Registered Owner of a Bond pursuant to the provisions of <br />this Section shall be irrevocable for a period of six months from the date of such consent, and shall <br />be conclusive and binding upon all future holders of the same Bond during such period. Such <br />consent may be revolted at any time after six months from the date of consent by the Registered <br />Owner who gave such consent, or by a successor in title, by filing notice with the City. <br />San Marcos GORB - Delegated: Ordinance 30 <br />