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Ord 1992-086
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Ord 1992-086
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Last modified
7/12/2007 2:37:20 PM
Creation date
7/12/2007 2:37:19 PM
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City Clerk
City Clerk - Document
Ordinances
City Clerk - Type
Certificates of Obligation
Number
1992-86
Date
11/23/1992
Volume Book
108
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<br /> I LfJ,fl F <br /> Section 10.02. Remedies for Default. <br /> <br /> (a) Upon the happening of any Event of Default, then and in <br /> every case any Owner or an authorized representative thereof, <br /> including but not limited to, a trustee or trustees therefor, may <br /> proceed against the City for the purpose of protecting and enforcing <br /> the rights of the Owners under this Ordinance, by mandamus or other <br /> suit, action or special proceeding in equity or at law, in any court <br /> of competent jurisdiction, for any relief permitted by law, <br /> including the specific performance of any covenant or agreement <br /> contained herein, or thereby to enjoin any act or thing that may be <br /> unlawful or in violation of any right of the Owners hereunder or any <br /> combination of such remedies. <br /> (b) It is provided that all such proceedings shall be <br /> instituted and maintained for the equal benefit of all OWners of <br /> Bonds then outstanding. <br /> Section 10.03. Remedies Not Exclusive. <br /> (a) No remedy herein conferred or reserved is intended to <br /> be exclusive of any other available remedy or remedies, but each and <br /> every such remedy shall be cumulative and shall be in addition to <br /> every other remedy given hereunder or under the Bonds or now or <br /> hereafter existing at law or in equity; provided, however, that <br /> notwithstanding any other provision of this Ordinance, the right to <br /> accelerate the debt evidenced by the Bonds shall not be available as <br /> a remedy under this Ordinance. <br /> (b) The exercise of any remedy herein conferred or reserved <br /> shall not be deemed a waiver of any other available remedy. <br /> ARTICLE XI <br /> DISCHARGE <br /> , <br /> Section 11.01. Discharqe by Pavrnent. <br /> When all Bonds have been paid in full as to principal and as <br /> to interest and premium, if any, or when all Bonds have become due <br /> and payable, whether at maturity or otherwise, and the City shall <br /> have provided for the payment of the whole amount due or to become <br /> due on all Bonds then outstanding, including all interest that has <br /> accrued thereon or that may accrue to the date of maturity, and any <br /> premium due 0 r tha t may become due at maturity, by depositing with <br /> the Paying Agent/Registrar, for payment of the principal of such <br /> outstanding Bonds and the interest accrued thereon and any premium <br /> due thereon, the entire amount due or to become due thereon, and the <br /> City shall also have paid or caused to be paid all sums payable <br /> under this Ordinance by the City, including the compensation due or <br /> 4417f <br /> -28- <br />
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