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Ord 2019-003/authorizing the issuance of the City of San Marcos Special Assessment Revenue Bonds, Series 2018 (Trace Public Improvement District); approving aand authorizing an Indenture of Trust, a Bond Purchase Agreement, an Offering Memorandum, a
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Ord 2019-003/authorizing the issuance of the City of San Marcos Special Assessment Revenue Bonds, Series 2018 (Trace Public Improvement District); approving aand authorizing an Indenture of Trust, a Bond Purchase Agreement, an Offering Memorandum, a
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8/15/2019 3:27:16 PM
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City Clerk - Document
Ordinances
Number
2019-03
Date
1/29/2019
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permitted by Section 10.1, to take effect when and as provided in this Section. A copy of such <br />Supplemental Indenture, together with a request to Owners for their consent thereto, if such <br />consent is required pursuant to Section 10. 1, shall be mailed by first class mail, by the Trustee to <br />each Owner of Bonds from whom consent is required under this Indenture, but failure to mail <br />copies of such Supplemental Indenture and request shall not affect the validity of the <br />Supplemental Indenture when assented to as in this Section provided. <br />(b) Such Supplemental Indenture shall not become effective unless there shall be <br />filed with the Trustee the written consents of the Owners as required by this Indenture and a <br />notice shall have been mailed as hereinafter in this Section provided. Each such consent shall be <br />effective only if accompanied by proof of ownership of the Bonds for which such consent is <br />given, which proof shall be such as is permitted by Section 11.6. Any such consent shall be <br />binding upon the Owner of the Bonds giving such consent and on any subsequent Owner <br />(whether or not such subsequent Owner has notice thereof), unless such consent is revoked in <br />writing by the Owner giving such consent or a subsequent Owner by filing such revocation with <br />the Trustee prior to the date when the notice hereinafter in this Section provided for has been <br />mailed. <br />(c) After the Owners of the required percentage of Bonds shall have filed their <br />consents to the Supplemental Indenture, the City shall mail a notice to the Owners in the manner <br />hereinbefore provided in this Section for the mailing of the Supplemental Indenture, stating in <br />substance that the Supplemental Indenture has been consented to by the Owners of the required <br />percentage of Bonds and will be effective as provided in this Section (but failure to mail copies <br />of said notice shall not affect the validity of the Supplemental Indenture or consents thereto). <br />Proof of the mailing of such notice shall be filed with the Trustee. A record, consisting of the <br />papers required by this Section 10.3 to be filed with the Trustee, shall be proof of the matters <br />therein stated until the contrary is proved. The Supplemental Indenture shall become effective <br />upon the filing with the Trustee of the proof of mailing of such notice, and the Supplemental <br />Indenture shall be deemed conclusively binding (except as otherwise hereinabove specifically <br />provided in this Article) upon the City and the Owners of all Bonds at the expiration of sixty (60) <br />days after such filing, except in the event of a final decree of a court of competent jurisdiction <br />setting aside such consent in a legal action or equitable proceeding for such purpose commenced <br />within such sixty-day period. <br />Section 10.4. Procedure for Amendment Not Requiring Owner Consent. <br />(a) The City and the Trustee may at any time adopt a Supplemental Indenture <br />amending the provisions of the Bonds or of this Indenture, to the extent that such amendment is <br />permitted by Section 10.1, to take effect when and as provided in this Section. A copy of such <br />Supplemental Indenture, together with a notice stating that the Supplemental Indenture does not <br />require Owner consent, shall be mailed by first class mail by the Trustee to each Owner of <br />Bonds, but failure to mail copies of such Supplemental Indenture shall not affect the validity of <br />the Supplemental Indenture. The Trustee shall retain the proof of its mailing of such notice. A <br />record, consisting of the papers required by this Section 10.4, shall be proof of the matters <br />therein stated until the contrary is proved. <br />61 <br />
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