Laserfiche WebLink
5 .02 . -Amendments With Consent of Bondholders . With <br /> the consent of owner-s of _ bonds- as provided in.�Section- 5 . 03 , the <br /> City may from time -to time and . at. any time . amend this <br /> resolution .by adding any provisions hereto or : cn.anging - in any <br /> manner or eliminating any- of the provisions hereof, or of any <br /> amending resolution except- that no amendment shall be adop.ted <br /> at any time without the consent of the owners of -all bonds <br /> affected thereby which are then..outstanding, if it would (a ) <br /> extend the maturities of any such bonds, (b) reduce the rate or <br /> extend the time of payment of interest thereon,' (c ) reduce the <br /> amount or -extend the time of payment of. the principal or <br /> redemption premium thereof , (d) give to .any. bond or bonds any <br /> privileges over any other bond or bonds,- (e ) reduce the sources <br /> of revenues appropriated to the Liquor Store Fund, (d) <br /> authorize the creation of, a pledge of said revenues prior to or <br /> on a parity with the bonds (except as is authorized by Sections <br /> 3 .05 and 3 .06 ) , or ( g) reduce the percentage in principal <br /> amount of such bonds required to authorize- or consent to any <br /> such amendment. <br /> 5 . 03 . Consents. Any amendment adopted pursuant to <br /> Section 5 . 02 shall be made by resolution, mailed to the <br /> registered owners of all outstanding bo.nds, .and shall become <br /> effective only upon the . filing of written consents with the <br /> Clerk, signed by the owners of not less than a majority in. <br /> principal amount of the bonds which- are then outstanding or , in <br /> the case of an amendment not affecting all outstanding bonds, <br /> by the owners of not less than a major.ity in principal amount- <br /> of the bonds affected by such amendment. Any written . consent <br /> to an amendment may be embodied in and evidenced by. one or any <br /> number of concurrent written instruments of substantially <br /> similar tenor signed by bondholders in person or by agent duly <br /> appointed in writing, and shall become effective when delivered <br /> to the Clerk.- . Any consent by the owner of any bond shall bind <br /> him and every future owner of . the same bond with respect to any <br /> amendment adopted by the City pursuant to such consent, <br /> provided that any bondholders may revoke his consent with <br /> reference ' to any bond by written notice received by the Clerk <br /> before the amendment has become effective. . In the event that <br /> unrevoked consents of the owners of the required amount of <br /> bonds have not been received by the Clerk within one year after <br /> the mailing of any amendment, the amendment and all consents <br /> theretofore received shall be of no further force and effect. <br /> 5 .04 . Proof of Consent . Proof of the execution of <br /> any consent , or of a writing appointing .any agent to execute <br /> the same , or of the ownership by any-per:son of bonds, shall :be . <br /> sufficient for any purpose of this resolution. and shall be <br /> conclusive in favor of the City if made in the manner provided <br /> . in this Section 5 .04 . The fact and A ate of the execution by <br /> • any person of any such consent or appointment may be proved by <br /> -1.9- <br />