ORDINANCES & RESOLUTIONS 2009 - Laserfiche WebLink

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(b) To grant to or confer upon the owners of the bonds and BANs herein authorized any additional benefits, rights, remedies, powers, authority or security that may lawfully be granted to or conferred upon the owners of the bonds and BANs herein authorized or to make any change which, in the judgment of the Town, is not to the prejudice of the owners of the bonds or BANs herein authorized; (c) To modify, amend or supplement this Ordinance to permit the qualification of the bonds or BANs herein authorized for sale under the securities laws of the United States of America or of any of the states of the United States of America or to obtain or maintain bond insurance or other credit enhancement with respect to payments of principal of and interest on bonds or BANs herein authorized; (d) To provide for the refunding or advance refunding of the bonds herein authorized; (e) To procure a rating on the bonds herein authorized from a nationally recognized securities rating agency or agencies designated in such supplemental ordinance if such supplemental ordinance will not adversely affect the owners of the bonds herein authorized or any other bonds ranking on a parity with such bonds; or (f) To accomplish any other purpose which, in the judgment of the Town, does not adversely affect the interests of the owners of the bonds or BANs herein authorized. Subject to the terms and provisions contained in this Section, and not otherwise, the owners of not less than sixty-six and two-thirds percent (66-2/3%) in aggregate principal amount of the bonds issued pursuant to this Ordinance and then outstanding shall have the right, from time to time, anything contained in this Ordinance to the contrary notwithstanding, to consent to and approve the adoption by the Town of such ordinance or ordinances supplemental hereto as shall be deemed necessary or desirable by the Town for the purpose of modifying, altering, amending, adding to or rescinding in any particular any of the terms or provisions contained in this Ordinance, or in any supplemental ordinance;provided, however, that if any Bonds are sold to the Authority as part of its SRF Program, the Town shall obtain the prior written consent of the Authority; and provided,further, that nothing herein contained shall permit or be construed as permitting: (g) An extension of the maturity of the principal of or interest or premium, if any, on any bond issued pursuant to this Ordinance or an advancement of the earliest redemption date of any bond; or (h) A reduction in the principal amount of any bond or the redemption premium or the rate of interest thereon; or • (i) The creation of a lien upon or a pledge of the revenues of the sewage works ranking prior to the pledge thereof created by this Ordinance; or (j) A preference or priority of any bond or bonds issued pursuant to this Ordinance over any other bond or bonds issued pursuant to the provisions of this Ordinance; (k) A reduction in the aggregate principal amount of the bonds required for consent to such supplemental ordinance; (1) A reduction in the Debt Service Reserve Requirement; or 30