RES 94045A - Laserfiche WebLink

(1) for the purpose of curing. any ambiguity, or of curing, cortecting or supplementing any defective provision contained in the Trust Agreement, or (2) in regard to questions azising under the Trust Agreement which the Authority may deem necessary or desirable and not inconsistent with the Trust Agreement and which shall not materially adversely affect the interests of the Owners; provided that the Authority, the City and the Trustee may rely in entering into any such amendment of the Trust Agreement upon the opinion of nationally recognized bond counsel stating that the requirements of this sentence shall have been met with respect to such amendment. The Lease Agreement may be amended in writing by agreement among all of the parties, but no such amendment (except as provided below) shall become effective as to the Owners of the Bonds then Outstanding, unless and until approved by the Owners of a majority in aggregate principal amount of Bonds Outstanding; provided that no such amendment shall impair the right of any Owner to receive principal and interest in accordance with his Bond of Participation unless consented to by applicable Bond Owner. Notwithstanding the foregoing, the Lease Agreement and the rights and obligations provided thereby may also be modified or amended at any time without the consent of any Owners of the Bonds, but only (1) for the purpose of curing any ambiguity, or of curing, correcting or supplementing any defective provision contained in the Lease Agreement, (2) for the purpose of amending the description of the Project to add additional property thereto and release property currently secured thereby, as permitted by the Lease Agreement or (3) in regard to questions arising under the Lease Agreement which the Authority may deem necessary or desirable and not inconsistent with such LeaseAgreement and which shall not materially adversely affect the interests of the Owners; provided that the Authority, the City and the Trustee may rely in entering into any such amendment of the Trust Agreement upon the opinion of nationally recognized bond counsel stating that the requirements of this sentence shall have been mel with respect to such amendment. Section 702. Defeasance. If all Outstanding Bonds shall be paid and discharged in any one or more of the following ways: (a) by paying or causing to be paid the principal of and interest on all Bonds Outstanding, as and when the same become due and payable; (b) by depositing with the Trustee, in trust, before maturity, money which, together with the amounts which are then on deposit in the Payment Fund and the Reserve Fund, is fully sufficient to pay all Bonds Outstanding, including all principal and interest; (c) by depositing with the Trustee, intrust, non-callable Federal Securities in such amount as a nationally recognized certified public accountant shall determine will, together with the interest to accrue thereon and moneys then on deposit in the 34 9405901 M.LAI