Laserfiche WebLink
beneficial to the City. In the event of such resignation or removal, the Finance Director- <br /> Treasurer may negotiate a contract with, or issue a request for proposals for, a successor <br /> Remarketing Agent, as appropriate, and execute a contract with the successor so selected; <br /> provided, however, that no successor may be appointed by the Finance Director-Treasurer if the <br /> appointment of such successor would result in the withdrawal, suspension or downgrade in the <br /> ratings of the Bonds by any Rating Agency. <br /> The Council authorizes the Finance Director-Treasurer to obtain an Alternate Credit <br /> Facility when, in the sole discretion of the Finance Director-Treasurer, such replacement is <br /> deemed necessary or beneficial to the City. In the event of such replacement, the Finance <br /> Director-Treasurer may negotiate a contract with, or issue a request for proposals for, a new Bank <br /> and execute a contract with the new Bank so selected. <br /> ARTICLE VII. <br /> MISCELLANEOUS <br /> Section 7.01. Contract; Severability. The covenants in this ordinance and in the Bonds <br /> shall constitute a contract between the City and the Registered Owner of each and every Bond. If <br /> any one or more of the covenants or agreements provided in this ordinance to be performed on <br /> the part of the City shall be declared by any court of competent jurisdiction and final appeal (if <br /> any appeal be taken) to be contrary to law, then such covenant or covenants, agreement or <br /> agreements, shall be null and void and shall be deemed separable from the remaining covenants <br /> and agreements in this ordinance and shall in no way affect the validity of the other provisions of <br /> this ordinance or of the Bonds. <br /> -48- P\CMW\CMW4ZL 11/20/01 <br />