Ord 2012-014 - Laserfiche WebLink

Home Browse Search

required by any other provision of this Ordinance that authorizen amendment) of the outstanding Bonds consent to such amendment or (B) a person thats unaffiliated with the City (such as nationally recognized bond counsel) determines that such amen will not materially impair the interests of the holders and beneficial owners of the Bonds. If City so amends the provisions of this Section, it shall include with any amended financial information or operating data next provided in accordance with this Section an explanation, in narrative forasons for the amendment and of the impact of any change in the type of financial information or operating data so provided. The City may also amend or repeal the provisions of this continuing disclosure requirement if the SEC amends or repeals the applicable provisions of the Rule or a court of final jurisdiction enters judgment that such provisions of the Rule are invalid, but only if and to the extent that the provisions of this sentence would not prevent an underwriter from lawfully purchasi or selling the Bonds in the primary offering of the Bonds. . The City hereby reserves the right to Section 17. AMENDMENT OF ORDINANCE amend this Ordinance subject to the following terms and conditions, to-wit: (a)The City may from time to time, without the consent of the Registered Owner, except as otherwise required by paragraph (b) below, amend or supplement this Ordinance in order to (i) cure any ambiguity, defect or omission in this Ordinance that does not materially adversely affect the interests of the holders, (ii) grant additional rights or securinefit of the holders, (iii) add events of default as shall not be inconsistent with the provisio of this Ordinance and that shall not materially adversely affect the interests of the holders, (v) qualify this Ordinance under the Trust Indenture Act of 1939, as amended, or corresponding provisions of federal laws from time to time in effect, or (iv) make such other provisions in regard to matters or questions arising under this Ordinance as shall not be inconsistent with the provisions of the and that shall not in the opinion of the City's Bond Counsel materially adversely affect tnterests of the holders. (b)Except as provided in paragraph (a) above, the Registered Ownll have the right from time to time to approve any amendment hereto that may be decessary or desirable by the City; provided, however, that without the consent of the Registered Owner, nothing herein contained shall permit or be construed to permit amendment of the terms and conditions of this Ordinance or in the Bond so as to: (1)Make any change in the maturity of the Bond; (2)Reduce the rate of interest borne by the Bond; (3)Reduce the amount of the principal of, or redemption premium, if any, payable on the Bond; (4)Modify the terms of payment of principal or of interest or rdemption premium on the Bond or impose any condition with respect to sucnt; or 28 San Marcos GORB 2012 - Delegated: Ordinance