Laserfiche WebLink
<br /> ~ <br /> I <br /> il <br /> I : <br /> g} <br /> 1 <br /> 1!shall have the right from time to time to approve any amend- ( <br /> H <br /> ment to this Ordinance which may be deemed necessary or de- ~ <br /> sirable by the City, provided, however, that nothing herein ~ <br /> ~ contained shall permit or be construed to permit the amend- <br /> ~;ment of the terms and conditions in this Ordinance or in the ~ <br /> Bonds or Additional Parity Revenue Bonds so as to: ~ <br /> (1) Make any change in the maturity of the out- <br /> ~ <br /> standing Bonds or Additional Parity Revenue Bonds; ~ <br /> (2) Reduce the rate of interest borne by any of <br /> the outstanding Bonds or Additional Parity Revenue ~ <br /> ~ Bonds; <br /> y: <br /> (3) Reduce the amount of the principal payable <br /> on the outstanding Bonds or Additional Parity Revenue <br /> Bonds; <br /> (4) Modify the terms of payment of principal <br /> of or interest on the outstanding Bonds or Additional <br /> Parity Revenue Bonds, or impose any conditions with <br /> respect to such payment; <br /> (5) Affect the rights of the holders of less , <br /> ~s than all of the Bonds and Additional Parity Revenue ` <br /> Bonds then outstanding; <br /> ii <br /> (6) Change the minimum percentage of the prin- ~ <br /> cipal amount of Bonds and Additional Parity Revenue <br /> Bonds necessary for consent to such amendment. ~ <br /> i` (b) If at any time the City shall desire to amend the ~ <br /> ~a Ordinance under this Section, the City shall cause notice of " <br /> the proposed amendment to be published in a financial news- ~ <br /> ;i paper or journal published in the City of New York, New <br /> ; York, once during each calendar week for at least two ~ <br /> successive calendar weeks. Such notice shall briefly set j <br /> ' forth the nature of the proposed amendment and shall state ~ <br /> that a copy thereof is on file at the principal office of ; <br /> the Paying Agents for inspection by all holders of Bonds and ~ <br /> t~ Additional Parity Revenue Bonds. Such publication is not ~ <br /> required, however, if notice in writing is given to each <br /> holder of Bonds and Additional Parity Revenue Bonds. ~ <br /> (c) Whenever at any time not less than thirty days, <br /> 'i and within one year, from the date of the first publication ! <br /> of said notice or other service of written notice the City <br /> shall receive an instrument or instruments executed by the <br /> holders of at least 51% in aggregate principal amount of all <br /> Bonds and Additional Parity Revenue Bonds then outstanding, <br /> i which instrument or instruments shall refer to the proposed ; <br /> ~n amendment described in said notice and which specifically ~ <br /> consent to and approve such amendment in substantially the ~ <br /> g!; form of the copy thereof on file with the Paying Agents, the <br /> City Council may pass the amendatory ordinance in substan- ~ <br /> tially the same €orm. ~ <br /> 9 <br /> (d) Upon the passage of any amendatory ordinance pur- ~ <br /> suant to the provisions of this Section, this Ordinance & <br /> shall be deemed to be amended in accordance with such ~ <br /> amendatory ordinance, and the respective rights, duties, and ~ <br /> . obligations under this Ordinance of the City, and all the ~ <br /> holders of then outstanding Bonds and Additional Parity ~ <br /> Revenue Bonds and all future Bonds and Additional Parity ~ <br /> ~ <br /> t= Revenue Bonds shall thereafter be determined, exercised, and ~ <br /> enforced hereunder, subject in all respects to such amend- ~ <br /> ws <br /> V ments. ~ <br /> (e) Any consent given by the holder of a Bond or Addi- ~ <br /> ~r I <br /> r4 tional Parity Revenue Bond pursuant to the provisions of <br /> q3 this Section shall be irrevocable for a period of six months ; <br /> from the date of the first publication of the notice ~ <br /> ~ <br /> ~ <br /> ~ <br /> ;i <br /> ',1 18 <br />