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Section, as so amended, would have permitted an underwriter to purchase or sell Bonds in the <br /> primary offering of the Bonds in compliance with the Rule,taking into account any amendments or <br /> interpretations of the Rule since such offering as well as such changed circumstances and(2)either <br /> (a)the holders of a majority in aggregate principal amount(or any greater amount required by any <br /> other provision of this Ordinance that authorizes such an amendment) of the outstanding Bonds <br /> consents to such amendment or (b) a person that is unaffiliated with the City (such as nationally <br /> recognized bond counsel)determines that such amendment will not materially impair the interest of <br /> the holders and beneficial owners of the Bonds. If the City so amends the provisions of this Section, <br /> it shall include with any amended financial information or operating data next provided in <br /> accordance with paragraph(a)of this Section an explanation,in narrative form,of the reason for the <br /> amendment and of the impact of any change in the type of financial information or operating data so <br /> provided. The City may also amend or repeal the provisions of this continuing disclosure agreement <br /> if the SEC amends or repeals the applicable provision of the Rule or a court of final jurisdiction <br /> enters judgment that such provisions of the Rule are invalid, but only if and to the extent that the <br /> provisions of this sentence would not prevent an underwriter from lawfully purchasing or selling <br /> Bonds in the primary offering of the Bonds. <br /> Section 16. AMENDMENT OF ORDINANCE. The City hereby reserves the right to <br /> amend this Ordinance subject to the following terms and conditions, to-wit: <br /> (a) The City may from time to time, without the consent of any holder, except as <br /> otherwise required by paragraph(b)below,amend or supplement this Ordinance in Ordinance to(i) <br /> cure any ambiguity,defect or omission in this Ordinance that does not materially adversely affect the <br /> interests of the holders, (ii)grant additional rights or security for the benefit of the holders,(iii)add <br /> events of default as shall not be inconsistent with the provisions of this Ordinance and that shall not <br /> materially adversely affect the interests of the holders, (iv) qualify this Ordinance under the Trust <br /> Indenture Act of 1939,as amended,or corresponding provisions of federal laws from time to time in <br /> effect,(v)obtain insurance or ratings on the Bonds,(vi)obtain the approval of the Attorney General <br /> of the State Texas,or(vii) make such other provisions in regard to matters or questions arising under <br /> this Ordinance as shall not be inconsistent with the provisions of this Ordinance and that shall not in <br /> the 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 holders of Bonds aggregating in <br /> principal amount 51% of the aggregate principal amount of then outstanding Bonds that are the <br /> subject of a proposed amendment shall have the right from time to time to approve any amendment <br /> hereto that may be deemed necessary or desirable by the City; provided, however, that without the <br /> consent of 100%of the holders in aggregate principal amount of the then outstanding Bonds,nothing <br /> herein contained shall permit or be construed to permit amendment of the terms and conditions of <br /> this Ordinance or in any of the Bonds so as to: <br /> (1) Make any change in the maturity of any of the outstanding Bonds; <br /> (2) Reduce the rate of interest borne by any of the outstanding Bonds; <br /> 29 <br /> SarM„eoaaoe201e.ommanceco <br />