07 - Issuance & Sale of City of Paris GO Bonds, Series 2018

Home Browse Search

the 'rrust Indenture Act of 1939„ as arnended, or corresponding provisions of federal laws from tine to time in effect, or (v) make such other provisions in regard to matters or questions arising under this Ordinance as shall not be inconsistent with the provisions of this Ordinance and that shall not in the opinion of the Issuer's Bond Counsel inaterially adversely affect the interests of the holders,. (b) Except as provided in paragraph (a) above, the holders of Bonds aggregating in principal annount 51 % of the aggregate principal amount of then outstanding Bonds that are the subject of a proposed amendment shall have the right from tinne to time to approve any amendment hereto that may be deemed necessary or desirable by the Issuer; provided, however, that without the consent of I 00% of the holders in aggregate principal amount of the then outstanding Bonds, nothing herein contained shall pen -nit or be construed to permit amendment of the terms and conditions of this Ordinance or in any of the Bonds so as to: (1) Make any change in the maturity of any of the outstanding Bonds; (2) Reduce the rate of interest borne by any of the outstanding Bonds; (3) Reduce the amount of the principal of,, or redemption premium, if any, payable on any outstanding Bonds, (4) Modify the terms of payment of principal or of interest or redemption premium on outstanding Bonds or any of them or impose any condition with respect to such payment; or (5) Change the minimum percentage of the principal amount of any series of Bonds necessary for consent to such amendment. (c) If at any til-ne the Issuer shall desire to amend this Ordinance under this Section, tile Issuer shall send by U.S. mail to each registered owner of the affected Bonds a copy of the proposed amendinent and cause notice of the proposed amendment to be published at least once in a financial publication published in The City of New York, New York or in the State of Texas. Such published notice shall briefly set forth the nature of the proposed amendment and shall state that a copy thereof is on file at the office of the Issuer for inspection by all holders of such Bonds. (d) Whenever at any time within one year from the date of publication of such notice the Issuer shall receive an instrument or instruments executed by the holders of at least 51% in aggregate principal amount of all of the Bonds then outstanding that are required for the amendment, which instrument or instruments shall refer to the proposed amendment and that shall specifically consent to and approve such amendment, the Issuer may adopt the amendment in substantially the same form. (c) Upon the adoption of any amendatory Ordinance pursuant to the provisions of this Section, this Ordinance shall be deerned to be modified and amended in accordance with such amendatory Ordinance, and tile respective rights, duties, and obligations of the Issuer and all holders of such affected Bonds shall thereafter be deterrinned, exercised, and enforced, subject in all respects to such amendment, 10