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0 <br />shall be null and void if the City (1) obtains an opinion of nationally recognized bond counsel to <br />the effect that those portions of the Rule which require this section, or any such provision, are <br />invalid, have been repealed retroactively or otherwise do not apply to the Bonds; and (2) notifies <br />each then existing NRMSI R and the SID, if any, of such opinion and the cancellation of this <br />section. <br />Notwithstanding any other provision of this ordinance, the City may amend this <br />Section 18, and any provision of this Section 18 may be waived, provided that the following <br />conditions are satisfied: <br />1. If the amendment or waiver relates to the provisions of <br />Sections 18(b) or (c), it may only be made in connection with a change in circumstances that <br />arises from a change in legal requirements, change in law, or change in the identity, nature or <br />status of the City with respect to the Bonds, or the type of business conducted; <br />2. The undertaking, as amended or taking into account such waiver, <br />would, in the opinion of nationally recognized bond counsel, have complied with the <br />requirements of the Rule at the time of the original issuance of the Bonds, after taking into <br />account any amendments or interpretations of the Rule, as well as any change in circumstances; <br />and <br />3. The amendment or waiver either (i) is approved by the owners of <br />the Bonds in the same manner as provided in this ordinance for amendments to this ordinance <br />with the consent of owners, or (ii) does not, in the opinion of nationally recognized bond <br />counsel, materially impair the interests of the owners or beneficial owners of the Bonds. <br />In the event of any amendment or waiver of a provision of this Section 18, the City shall <br />describe such amendment in the next annual report, and shall include, as applicable, a narrative <br />-50- P:\CMW\CMW6WH 09/06/05 <br />