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municipal securities as to which a final official statement (as defined in the Rule) <br />has been provided to the MSRB consistent with the Rule. <br />"MSRB" means the Municipal Securities Rulemaking Board. <br />"Rule" means SEC Rule 15c2-12, as amended from time to time. <br />"SEC" means the United States Securities and Exchange Commission. <br />Section 17. 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 the Registered Owner, <br />except as otherwise required by paragraph (b) below, amend or supplement this Ordinance in <br />order to (i) cure any ambiguity, defect or omission in this Ordinance that does not materially <br />adversely affect the interests of the holders, (ii) grant additional rights or security for the benefit <br />of the holders, (iii) add events of default as shall not be inconsistent with the provisions of this <br />Ordinance and that shall not materially adversely affect the interests of the holders, (v) qualify <br />this Ordinance under the Trust Indenture Act of 1939, as amended, or corresponding provisions <br />of federal laws from time to time in effect, or (iv) make such other provisions in regard to <br />matters or questions arising under this Ordinance as shall not be inconsistent with the provisions <br />of this Ordinance and that shall not in the opinion of the City's Bond Counsel materially <br />adversely affect the interests of the holders. <br />(b) Except as provided in paragraph (a) above, the Registered Owner shall have the <br />right from time to time to approve any amendment hereto that may be deemed necessary or <br />desirable by the City; provided, however, that without the consent of the Registered Owner, <br />nothing herein contained shall permit or be construed to permit amendment of the terms and <br />conditions of this 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 <br />any, payable on the Bond; <br />(4) Modify the terms of payment of principal or of interest or <br />redemption premium on the Bond or impose any condition with respect to such <br />payment; or <br />(5) Change the requirement with respect to Registered Owner consent <br />to such amendment. <br />31 <br />San Marcos GORB2020 - Delegated: Ordinance <br />