Laserfiche WebLink
<br />" <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />transmitted to the Treasurer or destroyed, All of the <br />cancelled Bonds not destroyed shall remain in the custody of <br />the Treasurer until destroyed pursuant to due authorization. <br /> <br />Section 23. Amendments. This Resolution, and the rights <br />and obligations of the Agency and of the Owners of the Bonds <br />may be modified or amended at any time by supplemental <br />resolution adopted by the Agency: (a) without the consent of <br />Bondholders, if the modification or amendment is for the <br />purpose of adding covenants and agreements further to secure <br />Bond payment, to prescribe further limitations and restrictions <br />on Bond issuance, to surrender rights or privileges of the <br />Agency, to make modifications not affecting any outstanding <br />series of Bonds only with the consent of the Fiscal Agent, for <br />the purpose of curing any ambiguities, defects or inconsistent <br />provisions in this Resolution or to insert such provisions <br />clarifying matters or questions arising under this Resolution <br />as are necessary and desirable to accomplish the same, provided <br />that the modifications or amendments do not adversely affect <br />the rights of the Owners of any outstanding Bonds; (b) for any <br />purpose with the written consent of the Bond Insurer and <br />consent of the Bondholders holding sixty percent (60%) in <br />aggregate principal amount of the outstanding Bonds, exclusive <br />of Bonds, if any, owned by the Agency or the City, and obtained <br />as hereinafter set forth; provided, however, that no <br />modification or amendment shall, without the express consent of <br />the registered owner of the Bond affected, reduce the principal <br />amount of any Bond, reduce the interest rate payable on it, <br />extend its maturity or the times for paying interest, change <br />the monetary medium in which principal and interest is payable, <br />or create a mortgage pledge or lien upon the revenues superior <br />to or on a parity with the pledge and lien created for the <br />Bonds and any Parity Bonds or reduce the percentage of consent <br />required for amendment or modification. <br /> <br />Any act done pursuant to a modification or amendment <br />consented to by the Bondholders shall be binding upon the <br />Owners of all of the Bonds and shall not be deemed an <br />infringement of any of the provisions of this Resolution or of <br />the Law, whatever the character of the act may be, and may be <br />done and performed as fully and freely as if expressly <br />permitted by the terms of this Resolution, and after consent <br />has been given, no Bondholder, whether attached to a Bond or <br />detached therefrom, shall have any right or interest to object <br />to the action, to question its propriety or to enjoin or <br />restrain the Agency or its officers from taking any action <br />pursuant to a modification or amendment. <br /> <br />A. Calling Bondholders' Meeting. If the Agency shall <br />desire to obtain the Bondholders' consent, it shall duly adopt <br />a resolution calling a meeting of the Bondholders for the <br />purpose of considering the action for which consent is desired, <br /> <br />05-23-86 <br />1665k/2281/06 <br /> <br />-29- <br />