Ord 1993-038 - Laserfiche WebLink

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. )S{)17 e which instrument or instruments shall refer to the proposed amendment described in said notice and which specifically consent to and approve such amendment in substantially the form of the copy thereof on file with the Paying Agent/Registrar, the City Council may pass the amendatory ordinance in substantially the same form. (d) Upon the passage of any amendatory ordinance pursuant to the provisions of this Section, this Ordinance shall be deemed to - be amended in accordance with such amendatory ordinance, and the respective rights, duties and obligations under this Ordinance of the City and all the holders of then outstanding Parity Bonds and all future Parity Bonds shall thereafter be determined, exercised and enforced hereunder, subject in all respects to such amendments. (e) Any consent given by the holder of a Parity Bond pursuant to the provisions of this Section shall be irrevocable for a period of six months from the date of the first publication of the notice provided for in this Section, and shall be conclusive and binding upon all future holders of the same Parity Bond, or Parity Bond issued in the transfer, exchange or replacement of such Parity Bond, during such period. Such consent may be revoked at any time after six months from the date of the first publication of such notice by the Holder who gave such consent, or by a successor in title, by filing notice thereof with the Paying A~ent/Registrar and the City, but such revocation shall not be effective if the Holders of 51% in aggregate principal amount of the then outstanding Parity Bonds as in this Section defined have, prior to the attempted revocation, consented to and approved the amendment. (f) Notwithstanding any provision of this Section to the contrary, however, while any policy of municipal bond guaranty insurance is in effect with respect to payment of principal of or interest on the Bonds, either or both, no such amendment shall be valid or effective unless such amendment shall have been approved by the insurer named in each such policy. , (g) The foregoing provisions of this section notwithstanding, the City by action of the Ci ty Counci 1 may amend this Ordinance for anyone or more of the following purposes: (1) To add to the covenants and agreements of the City contained in this Ordinance, other covenants and agreements thereafter to be observed, grant additional rights or remedies to bondholders or to surrender, restrict or limit any right or power herein reserved to or conferred upon the City; (2) To make such provisions for the purpose of curing any ambiguity, or curing, correcting or supplementing any defective provisions contained in this Ordinance, or in regard to clarifying matters or questions arising under this Ordinance, as are necessary or desirable and not contrary to or inconsistent with this 4588f -37-