ORDINANCES & RESOLUTIONS 2009 - Laserfiche WebLink

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(m)The extension of mandatory sinking fund redemption dates, if any. The owners of not less than sixty-six and two-thirds percent (66-2/3%) in aggregate principal amount of the bonds outstanding at the time of adoption of such supplemental ordinance shall have consented to and approved the adoption thereof by written instrument to be maintained on file in the Office of the Clerk-Treasurer of the Town. No owner of any bond issued pursuant to this Ordinance shall have any right to object to the adoption of such supplemental ordinance or to object to any of the terms and provisions contained therein or the operation thereof, or in any manner to question the propriety of the adoption thereof; or to enjoin or restrain the Town or its Officers from adopting the same, or from taking any action pursuant to the provisions thereof. Upon the adoption of any supplemental ordinance pursuant to the provisions of this SECTION, this Ordinance shall be, and shall be deemed, modified and amended in accordance therewith, and the respective rights, duties and obligations under this Ordinance of the Town and all owners of bonds issued pursuant to the provisions of this Ordinance then outstanding, shall thereafter be determined, exercised and enforced in accordance with this Ordinance, subject in all respects to such modifications and amendments. Notwithstanding anything contained in the foregoing provisions of this Ordinance, the rights and obligations of the Town and of the owners of the bonds authorized by this Ordinance, and the terms and provisions of the bonds and this Ordinance, or any supplemental ordinance, may be modified or altered in any respect with the consent of the Town and the consent of the owners of all the bonds issued pursuant to this Ordinance then outstanding. SECTION 25. Repeal of Conflicting Ordinances. All Ordinances, Resolutions and Orders, or parts thereof; in conflict with the provisions of this Ordinance, are, to the extent of such conflict, hereby repealed. SECTION 26. Rates and Charges. The estimate of rates and charges which will be needed and charged to the general classes of users of property to be served by the Sewage Works in order to provide sufficient moneys to make payments of principal of and interest on the Bonds, along with the other payments identified in this Ordinance, is set forth in Town Ordinance No. 1271, entitled "An Ordinance Amending the Ordinance Establishing the Schedule of Rates and Charges Collected by the Town of Mooresville, from the Owners of Property Served by the Waste Water Treatment Works of the Town To Raise Sufficient Revenues To Pay Bonded Indebtedness and Operate the Utility," to be appropriately amended by the Town Council prior to the issuance of the Bonds. SECTION 27. Notice of Adoption and Purport of Ordinance. Upon passage and adoption of this Ordinance, the Clerk-Treasurer shall immediately cause to be published in accordance with Indiana Code 5-3-1 a notice of the adoption and the purport of this Ordinance in accordance with Section 10 of the Act in the event that neither the entire Project nor any portion thereof have been ordered by or subject to the order of the Department. In the event an objecting petition is filed in accordance with Section 12 of the Act, no further proceedings shall be taken by the Town relating to the Project until the later of(1) the date on which the court having jurisdiction over such matter confirms the decision of the Town to issue bonds relating to the Project, or (ii) if an appeal is taken the date on which the appropriate court of last resort confirms the decision of the Town to issue bonds relating to the Project, except as permitted by Subsection 12(f) of the Act. SECTION 28. Payments on Holidays. If the date of making any payment or the last date for performance of any act or the exercising of any right, as provided in this Ordinance, shall be 31