Laserfiche WebLink
(iii) Change the minimum percentage of the Outstanding Principal Amount necessary for <br />consent to such amendment; or <br />(iv) Make any change in the maturity of any Outstanding Parity Debt; or <br />(v) Reduce the rate of interest borne by any Outstanding Parity Debt; or <br />(vi) Reduce the amount of the principal payable on any Outstanding Parity Debt; or <br />(vii) Modify the terms of payment of the amounts required to meet any financial <br />obligations of the City relating to the Financing Program, including payments due on or with respect <br />to the payment of any Outstanding Parity Debt, or impose any conditions with respect to such; or <br />(viii) Amend this subsection (b) of this Section. <br />(c) Notice. If at any time the City shall desire to amend this Master Ordinance pursuant to <br />subsection (b) of this Section, the City shall cause notice of the proposed amendment to be published <br />in a financial newspaper or journal of general circulation in the City of New York, New York <br />(including, but not limited to, The Bond Buyer or The Wall Street Journal) or in the State (including, <br />but not limited to, The Texas Bond Reporter), once during each calendar week for at least two <br />successive calendar weeks or disseminated by electronic means customarily used to convey notices <br />of redemption. Such notice shall briefly set forth the nature of the proposed amendment and shall <br />state that a copy thereof is on file at the principal office of each Registrar for any Parity Debt for <br />inspection by all owners of Parity Debt. Such publication is not required, however, if the City gives <br />or causes to be given such notice in writing, by certified mail, to each owner of Parity Debt. A copy <br />of such notice shall be provided in writing to each national rating agency maintaining a rating on <br />any Parity Debt. <br />(d) Receipt of Consents. With respect to any amendment undertaken pursuant to subsection <br />(b) above, whenever at any time the City shall receive an instrument or instruments executed by all <br />of the owners or the owners of a majority in Outstanding Principal Amount, as appropriate, which <br />instrument or instruments shall refer to the proposed amendment described in said notice and which <br />specifically consent to and approve such amendment in substantially the form of the copy thereof <br />on file as aforesaid, the City may adopt the amendatory resolution in substantially the same form. <br />(e) Effect of Amendments. Upon the adoption by the City of any resolution to amend this <br />Master Ordinance pursuant to the provisions of this Section, this Master Ordinance shall be deemed <br />to be amended in accordance with the amendatory resolution, and the respective rights, duties, and <br />obligations of the City and all the owners of then Outstanding Parity Debt and all future Parity Debt <br />shall thereafter be determined, exercised, and enforced under this Master Ordinance, as amended. <br />(f) Consent Irrevocable. Any consent given by any owner of Parity Debt pursuant to the <br />provisions of this Section shall be irrevocable for a period of six months from the date of the first <br />publication or other service of the notice provided for in this Section or the date of such consent, <br />whichever is later, and shall be conclusive and binding upon all future owners of the same Parity <br />SAN MARCOS\PassTh~uToI12008:Master Ordinance 1 1 <br />