Laserfiche WebLink
J <br /> Any such supplemental ordinance may be adopted without the consent of the holders of <br /> any Parity Bonds at any time outstanding, notwithstanding any of the provisions of <br /> subsection (b) of this section. <br /> (b) With the consent of the holders of not less than 65% in, aggregate principal <br /> amount of the Parity Bonds at the time outstanding, the Council may pass an ordinance or <br /> ordinances supplemental hereto for the purpose of adding any provisions to or changing in any <br /> manner or eliminating any of the provisions of this ordinance or of any supplemental ordinance; <br /> provided, however, that no such supplemental ordinance shall: <br /> (1) Extend the fixed maturity of any Parity Bonds, or reduce the rate of <br /> interest thereon, or extend the time of payment of interest from their due date, or reduce the <br /> amount of the principal thereof, or reduce any premium payable on the redemption thereof, <br /> without the consent of the holder of eacli bond so affected; or <br /> (2) Reduce the aforesaid percentage of bondholders required to approve any <br /> such supplemental ordinance, without the consent of the holders of all of the Parity Bonds then <br /> outstanding. <br /> It shall not be necessary for the consent of bondholders under this subsection(b) to <br /> approve the particular form of any proposed supplemental ordinance, but it shall be sufficient if <br /> such consent shall approve the substance thereof. <br /> For the purpose of consenting to amendments under this Section 20(b) except for <br /> amendments that alter the interest rate on any Parity Bonds, the maturity date, interest payment <br /> dates, purchase upon tender or redemption of any Parity Bonds, the issuer of a Credit Facility <br /> shall be deemed to be the sole Registered Owner of the Parity Bonds that are payable from such <br /> Credit Facility and that are then outstanding. <br /> 1C ,T r <br /> -65- P:120287_CMW120287_880 03/25/09 <br />