RES 67055 - Laserfiche WebLink

4O ARTICLE VII MODIFICATION AND AMENDMENT Ol~ THE RESOLUTION SECT~OU 7.01. Amendment by Consent o! Bondholders. This Resolution and the fights and obligations of the City and of the holders and registered owners of the Bonds and coupons may be modified or amended at any time by a Supple- mental Resolution which shall become binding when the written consents of the holders of 66~ % in aggregate principal amount of each series of Bonds then out- standing, exclusive of Bonds disqualified as provided in Section 7.04 hereof, are filed with the Fiscal Agent. No such modification or amendment shall extend the maturity of or reduce the interest rate on, or otherwise alter or impair the obliga- tion of the City to pay the principal, or interest or redemption premiums at the time and place and at the rate and in the currency provided therein of any Bond without the express consent of the holder or registered owner of such BOnd, nor reduce the percentages of Bonds required for the written consent to an amendment or modification, nor, without its written consent thereto, modify any of the rights or obligations of the Fiscal Agent. This Resolution and the rights and obligations of the City and of the holders of the Bonds and the coupons may also be modified or amended at any time by a Supplemental Resolution which shall become binding upon adoption, without the consent of any Bondholders, but only to the extent permitted by law and only for any one or more of the following purposes- (a) to add to the covenants and agreements of the City in this l~solufion contained other covenants ~ind agreements thereafter to be obserVed or to sur- render any right or power herein reserVed to or conferred upon the City; (b) to make such provisions for the purpose of curing any ambiguity, or of curing, correcting or supplementing any defective provision contained in this Reso- lution, or in regard to questions arising under this'Resolution, as'thc Council may deem necessary or desirable and not inconsistent with this Resolution, and which shall not adversely affect the interests of the holders of the Bonds; and (c) to provide for the issuance of any additional series of Bonds or of any Additional Bonds, and to provide the terms and conditions under which such Bonds or Additional Bonds may be issued, subject to and in accordance'"'With the provi- sions of Article III. SECTIO~ 7.02. Bondholders' Meetings. The City may at any time call a meeting of the holders of the Bonds. In such event the Fiscal Agent is authorized to fix the time and place of said meeting and to provide for the giving of notice thereof and to fix and adopt rules and regulations for the conduct of said meeting. SECTION 7.03. Procedure for Amendment with Written Consent o! Bond- holders. The City may at any time adopt a Supplemental Resolution amending the provisions of the Bonds or of this Resolution or any Supplemental Resolution, to the extent that such amendment is permitted by Section 7.01, to take effect when