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COM 1109.000 2020-2022
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COM 1109.000 2020-2022
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Last modified
11/10/2022 11:36:40 AM
Creation date
11/9/2022 11:12:52 AM
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Communications
Communications - Type
COM
Communications - Council Term
2020-2022
Communication
1109
Point
000
Author
Deanna S. Sako, Director of Finance
Communications - Referred To
COUNCIL
Document Relationships
AGE COUNCIL 2022-11-16 2020-2022
(Related To)
Path:
\Council Records\Agendas\2020-2022\Council
RES 618 Draft 01 2020-2022
(Related To)
Path:
\Council Records\Resolutions\2020-2022
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consent to and approve the execution and delivery by the County of such Supplemental Indentures as <br /> shall be deemed necessary or desirable by the County for the purpose of waiving, modifying, <br /> altering, amending, adding to or rescinding, in any particular, any of the terms or provisions <br /> contained in this Indenture; provided, however, that nothing herein shall permit, or be construed as <br /> permitting, (a) an extension of the maturity date of the principal, or the payment date of interest on, <br /> any Bond without the consent of the Owner thereof, (b) a reduction in the principal amount of, or <br /> redemption premium on, any Bond or the rate of interest thereon, without the consent of the Owner <br /> thereof, (c) a preference or priority of any Bond over any other Bond without the consent of the <br /> Owners of all of the Bonds that would lack such preference or priority, or (d) a reduction in the <br /> aggregate principal amount of the Bonds the Owners of which are required to consent to such <br /> Supplemental Indenture,without the consent of the Owners of all Bonds then Outstanding. <br /> If at any time the County shall desire to adopt a Supplemental Indenture, which pursuant to <br /> the terms of this Section shall require the consent of the Bondowners, the County shall so notify the <br /> Trustee and shall deliver to the Trustee a copy of the proposed Supplemental Indenture. The Trustee <br /> shall, at the expense of the County (payable solely from moneys available therefor in the <br /> Administrative Expense Account of the Special Tax Fund), cause notice of the proposed <br /> Supplemental Indenture to be mailed, by first class mail, postage prepaid, to all Bondowners at their <br /> addresses as they appear in the Bond Register. Such notice shall briefly set forth the nature of the <br /> proposed Supplemental Indenture and shall state that a copy thereof is on file at the office of the <br /> Trustee for inspection by all Bondowners. The failure of any Bondowners to receive such notice <br /> shall not affect the validity of such Supplemental Indenture when consented to and approved by the <br /> Owners of not less than a majority in aggregate principal amount of the Bonds Outstanding as <br /> required by this Section. Whenever at any time within one year after the date of the first mailing of <br /> such notice, the Trustee shall receive an instrument or instruments purporting to be executed by the <br /> Owners of a majority in aggregate principal amount of the Bonds Outstanding, which instrument or <br /> instruments shall refer to the proposed Supplemental Indenture described in such notice, and shall <br /> specifically consent to and approve the adoption thereof by the County substantially in the form of <br /> the copy referred to in such notice as on file with the Trustee, such proposed Supplemental Indenture, <br /> when duly adopted by the County, shall thereafter become a part of the proceedings for the issuance <br /> of the Bonds. In determining whether the Owners of a majority of the aggregate principal amount of <br /> the Bonds have consented to the adoption of any Supplemental Indenture, Bonds which are owned by <br /> the County or by any Person directly or indirectly controlling or controlled by or under the direct or <br /> indirect common control with the County shall be disregarded and shall be treated as though they <br /> were not Outstanding for the purpose of any such determination. <br /> Upon the adoption of any Supplemental Indenture and the receipt of consent to any such <br /> Supplemental Indenture from the Owners of not less than a majority in aggregate principal amount of <br /> the Outstanding Bonds in instances where such consent is required pursuant to the provisions of this <br /> Section, this Indenture shall be, and shall be deemed to be, modified and amended in accordance <br /> therewith, and the respective rights, duties and obligations under this Indenture of the County and all <br /> Owners of Outstanding Bonds shall thereafter be determined, exercised and enforced hereunder, <br /> subject in all respects to such modifications and amendments. <br /> Section 6.3. Notation of Bonds; Delivery of Amended Bonds. After the effective date <br /> of any action taken as hereinabove provided, the County may determine that the Bonds may bear a <br /> notation, by endorsement in form approved by the County, as to such action, and in that case upon <br /> demand of the Owner of any Outstanding Bond at such effective date and presentation of his Bond <br /> for the purpose at the office of the Trustee or at such additional offices as the Trustee may select and <br /> 43 <br />
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