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82-25 AUTHORIZING, APPROVING, RATIFYING AND CONFIRMING CERTAIN ADDITIONS AND CHANGES TO ECONOMIC DEVELOPMENT REVENUE BONDS (BRETTWOOD VILLAGE ASSOCIATES PROJECT)
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82-25 AUTHORIZING, APPROVING, RATIFYING AND CONFIRMING CERTAIN ADDITIONS AND CHANGES TO ECONOMIC DEVELOPMENT REVENUE BONDS (BRETTWOOD VILLAGE ASSOCIATES PROJECT)
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9/15/2016 11:20:19 AM
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9/15/2016 11:20:15 AM
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Resolution/Ordinance
Res Ord Num
82-25
Res Ord Title
AUTHORIZING, APPROVING, RATIFYING & CONFIRMING CERTAIN ADDITIONS & CHANGES IN THE TERMS & PROVISIONS OF THE $3,300,000 ECONOMIC DEVELOPMENT REVENUE BONDS (BRETTWOOD VILLAGE ASSOCIATES PROJECT)...
Approved Date
3/8/1982
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(a) To cure any ambiguity, formal defect or omission in the Inden- <br /> ture; <br /> (b) To grant to or confer upon the Trustee for the benefit of the <br /> Bondholders any additional rights, remedies, powers or authority that may <br /> lawfully be granted to or conferred upon the Bondholders or the Trustee; <br /> (c) To subject to the assignment and pledge of the Indenture <br /> additional revenues or collateral; and <br /> (d) To modify, amend or supplement the Indenture or any supplemen- <br /> tal indenture in such manner as to permit the qualification thereof under <br /> any Federal statute hereafter in effect or under any state securities or <br /> Blue-Sky laws, and in connection therewith, if they so determine, to add <br /> to the Indenture or any supplemental indenture such other terms, condi- <br /> tions and provisions (which, in the judgment of the Trustee, are not to <br /> the prejudice of the holders of the Bonds) as may be permitted or required <br /> by said Federal statute or state securities or Blue-Sky laws. <br /> Exclusive of supplemental indentures for the purposes set forth in the <br /> previous paragraph, and subject to the terms and provisions of this paragraph, <br /> and not otherwise, the holders of not less than two-thirds in aggregate princi- <br /> pal amount of the Bonds then outstanding shall have the right, from time to <br /> time, to consent to and approve the execution by the City and the Trustee of <br /> such other indentures supplemental to the Indenture as shall be deemed <br /> necessary and desirable by the City for the purpose of modifying, altering, <br /> amending, adding to or rescinding, in any particular, any of the terms or <br /> provisions contained in the Indenture or in any supplemental indenture, <br /> provided that a supplemental indenture which affects the rights, duties or <br /> obligations of the Bank shall not become effective unless and until the Bank <br /> approves such supplemental indenture, and provided, further, that, without the <br /> consent of the holders of the Bonds then outstanding, no supplemental indenture <br /> shall permit or be construed as permitting: (a) an extension of the stated <br /> maturity or reduction in the principal amount of, or reduction in the rate or <br /> extension of the time of payment of interest on, or the reduction of any <br /> premium payable on the redemption of, any Bonds, or (b) the creation of any <br /> lien on the Revenues prior to or on a parity with the security of the Inden- <br /> ture, or (c) a reduction in the aforesaid aggregate principal amount of Bonds <br /> the holders of which are required to consent to any such supplement indenture. <br /> No such supplemental indenture shall modify the rights, duties or immunities <br /> of the Trustee without the written consent of the Trustee. <br /> Discharge <br /> Provided that the City, the Partnership and the Land Trustee shall have <br /> kept, performed, and observed all of its covenants and promises in the Loan <br /> Agreement, the Note, the Mortgage and the Indenture, the lien created by the <br /> Indenture shall terminate and cease to exist 180 days after (i) there shall be <br /> no Bonds outstanding„ and (ii) all fees and expenses of the Trustee and the <br /> Paying Agent shall have been paid, except that if within 91 days of any payment <br /> of the principal of, premium, if any, and/or interest on the Bonds, no petition <br /> is filed by or against the Partnership or any general partner of the Partner- <br /> ship pursusnt to the Bankruptcy Code, then the lien of the Indenture shall <br /> cease and terminate at that time. <br /> 25 <br />
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