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Res13 15263
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Res13 15263
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Last modified
10/11/2019 7:49:21 AM
Creation date
10/11/2019 7:49:02 AM
Metadata
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Template:
CC Index
CC Index - Document Type
Resolution
Meeting Type
Joint
Agency Type
City Council and Public Finance Authority
Date
5/20/2013
Description
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD CITY AUTHORIZING PROCEEDINGS AND AGREEMENTS RELATING TO THE REFINANCING AND FINANCING OF CERTAIN WATER FACILITIES, APPROVING ISSUANCE AND SALE OF BONDS BY THE CITY OF REDWOOD CITY PUBLIC FINANCING AUTHORITY, APPROVING AN OFFICIAL STATEMENT AND AUTHORIZING OFFICIAL ACTIONS
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expenses of the Trustee, including those of its attorneys, and any and all other defaults known to <br /> the Authority (other than in the payment of such principal amount of the Bonds and the accrued <br /> interest thereon due and payable solely by reason of such declaration) shall have been made good <br /> or cured to the satisfaction of the Trustee or provision deemed by the Trustee to be adequate shall <br /> have been made therefor, then and in every such case the Trustee, by written notice to the <br /> Authority, may rescind and annul such declaration and its consequences; but no such rescission <br /> and annulment shall extend to or shall affect any subsequent default or shall impair or exhaust <br /> any right or power consequent thereon. <br /> Section 6.02. Other Remedies of the Trustee. The Trustee may, subject to the receipt of <br /> indemnity as provided herein: <br /> (a) by mandamus or other action or proceeding or suit at law or in equity <br /> enforce its rights against the Authority, or any board member, officer or employee thereof, and <br /> compel the Authority or any such board member, officer or employee to perform and carry out its <br /> or his or her duties under applicable law and the agreements and covenants contained herein <br /> reyuired to be performed by.it or him; <br /> (b) by suit in equity enjoin any acts or things which aze unlawful or violate the <br /> rights of the Trustee or the Bondowners hereunder; <br /> (c) intervene in judicial proceedings that affect the Bonds or the security <br /> therefor or hereunder; or <br /> (d) by suit in equity upon the happening of an Event of Default require the <br /> Authority and its officers and employees to account as the trustee of an express trust. <br /> Section 6.03. Non-Waiver. A waiver of any default or breach of duty or contract by the <br /> Trustee, or the Owners shall not affect any subsequent default or breach of duty or contract or <br /> impair any rights or remedies on any such subsequent default or breach of duty or contract. No <br /> delay or omission by the Trustee or the Owners to exercise any right or remedy accruing upon <br /> any default or breach of duty or contract shall impair any such right or shall be construed to be a <br /> waiver of any such default or breach of duty or contract or an acquiescence therein, and every <br /> right or remedy conferred upon the Trustee or the Owners by law or by this Article may be <br /> enforced and exercised from time to time and as often as shall be deemed expedient by the <br /> Trustee. <br /> If any action, proceeding or suit to enforce any right or to exercise any remedy is <br /> abandoned or determined adversely to the Trustee or the Owners, the Trustee, the Owners and <br /> the Authority shall be restored to their former positions, rights and remedies as if such action, <br /> proceeding or suit had not been bzougl�t or taken. <br /> Section 6.04. Remedies Not Exclusive. No remedy herein conferred upon or reserved to <br /> the Trustee is intended to be exclusive of any other remedy, and each such remedy shall be <br /> cumulative and shall be in addition to every other remedy given hereunder or now or hereafter <br /> -33- <br /> 338�371 i.DOC <br />
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