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82-051
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82-051
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Last modified
1/3/2012 12:33:20 PM
Creation date
6/26/2003 10:46:53 AM
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City Clerk
Doc Type
Resolution
Doc #
82-51
Date
4/19/1982
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binding upon the Bank unless such consent is revoked in writing by the Bank by <br />filing such revocation with the City prior to the date when the notice <br />hereinafter in this Section provided for has been published. <br /> <br /> After the Bank shall have filed its consent to the Supplemental <br />Resolution, the City shall mail and publish a notice to the Bank in the manner <br />hereinbefore provided in this Section for the mailing of the Supplemental <br />Resolution and publication of the notice of adoption thereof, stating in <br />substance that the Supplemental Resolution has been consented to by the Bank <br />and will be effective as provided in this Section. Proof of the publication <br />of such notice shall be filed with the City. A record, consisting of the <br />papers required by this Section to be filed and prepared, shall be proof of <br />the matters therein stated until the contrary is proved. The Supplemental <br />Resolution shall become effective upon the filing with the Bank of the proof <br />of the publication of such last-mentioned notice, and the Supplemental <br />Resolution shall be deemed conclusively binding (except as otherwise <br />hereinabove specifically provided in this Article) upon the City and the Bank <br />at the expiration of sixty (60) days after such filing, except in the event of <br />a final decree of a court of competent jurisdiction setting aside such consent <br />in a legal action or equitable proceeding for such purpose commenced within <br />such sixty-day period. <br /> <br /> Section 6.03. Effect of Supplemental Resolution. From and after the <br />time any Supplemental"~solution becomes effective pursuant to this Article <br />VII, this Resolution shall be deemed to be modified and amended in accordance <br />therewith, the respective rights, duties and obligations under this Resolution <br />of the City and the Bank shall thereafter be determined, exercised and <br />enforced hereunder subject in all respects to such modifications and <br />amendments, and all the terms and conditions of any such Supplemental <br />Resolution shall be deemed to be part of the terms and conditions of this <br />Resolution for any and all purposes. <br /> <br /> Section 6.04. Endorsement or Replacement of Note Issued After <br />Amendments. The City may determine that any Note issued and delivered after <br />the effective date of any action taken as provided in this Article VI shall <br />bear a notation, by endorsement or otherwise, in form approved by the City, as <br />to such action. In that case, upon demand of the Bank and presentation of its <br />Note for that purpose at such office as the City may select and designate for <br />that purpose, a suitable notation shall be made on such Note. The City may <br />determine that a new Note, so modified as in the opinion of the City is <br />necessary to conform to such action, shall be prepared, executed and <br />delivered. In that case, upon demand of the Bank, such new Note shall be <br />exchanged at the office of the Bank, in Los Angeles, California, without cost <br />to the Bank, for the Note then Outstanding, upon surrender of such Note. <br /> <br /> Section 6.05. Amendator~ Endorsement of Note. The provisions of this <br />Article VI shall not prevent the Bank from accepting any amendment as to the <br />Note held by it, provided that due notation thereof is made on such Note. <br /> <br />15 <br /> <br /> <br />
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