Ord 2008-038 - Laserfiche WebLink

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(I} Any consent given by the holder of a Bond pursuant to the provisions of this Section shall be irrevocable for a period of six months from the date of the publication of the notice provided for in this Section, and shall be conclusive and binding upon all future holders of the same Bond during such period. Such consent may be revoked at any time after six months from the date of the publication of said notice by the holder who gave such consent, or by a successor in title, by filing notice with the City, but such revocation shall not be effective if the Registered Owner of the Bond then outstanding, have, prior to the attempted revocation, consented to and approved the amendment. Section 20. REMEDIES IN EVENT OF DEFAULT. In addition to all the rights and remedies provided by the laws of the State of Texas, it is spe??fically covenanted and agreed particularly that in the event the City (i) defaults in the payment of _ principal, premium, if any, or interest on the Bond, (ii) declares bankruptcy, or (iii) defaults in the o? ?wance or performance of any other of the covenant, agreement or obligation of the City, the faih ? _ ? ?? 1 -form which materially adversely affects the rights of the owners, including but no limited t , their pl, ?c+ or ability to be repaid in accordance with this Section and the continuation therec for a perk . ?f 60 days after notice of such default is given by any owner to the City, the f?"n?win? ?ediP shall be available: (a) Any owner or an authorized represf ?tative then Hof. ?lcludin ? but not limited to, a trustee or trustees therefor, may proceed against the ?,. nor the 1 t?pose of ?otecting and enforcing the rights to the owners under this Ordinance, by mana? ?s or o?_ , action or special proceeding in equity or at law, in any court of competent jurisdictl? for any relief permitted by law, including the specific performance of any covenant or a??^ ? ??Pnt corp. ?P?' herein, or thereby to enjoin any act or thing that maybe unlawful or in ? ? `ion _ dny ?,, ? of the owners hereunder or any combination of such remedies. (b) It is provided that all s?? ?'? ?arocee?. ~? cL .?11 be instituted and maintained for the equal benefit of the owner of the Bona (c) The b? ld insurer, if and shah ?? deemed to be the sole holder of the Bond for the purpose of exer? ?_ any voting righ ivilege or giving any consent or direction or taking any other action t' ?t the ? ?rs of the Bond are entitled to take. (d) No remedy hereli, ?fP.red or reserved is intended to be exclusive of any other available remedy or remedies, but each a? .? every such remedy shall be cumulative and shall be in addition to every other remedy given hereunder or under the Bond or now or hereafter existing at law or in equity; provided, however, that notwithstanding any other provision of this Ordinance, the right to accelerate the debt evidenced by the Bond shall not be available as a remedy under this Ordinance. The exercise of any remedy herein conferred or reserved shall not be deemed a waiver of any other available remedy. Section 21. ?RESERVED? SAN MARCOSI CO Rfdg Bonds2008:Ordinance