Ord98 2137 - Laserfiche WebLink

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Section 19. Actions to Determine Validity. of Bonds and Proceedin_zs. An action may be brought pursuant to Chapter 9 (commencing with Section 860) of Title 10 of P.m't 2 ?f.!he C, od,e, of Civil Procedure) to determine the validity of Bonds and the legality ana validity ot au proceedings previously taken and proposed to be taken for the authorization, issuance, sale, and delivery of the Bonds and for the payment of the principal thereof and interest thereon. Section 20. Amendment of Ordinance. This Ordinance shall not be amended so as to have a material, adverse affect upon the rights of the holders of any outstanding Bonds theretofore issued hereunder, or the rights of Participating Parties with respect to whom Projects have theretofore been financed hereunder, without the written consent of such Bondholders and Participating Parties; provided, however, that this Ordinance may be. amended at any time (a) to make such provisio.n.s for the. p. urpose o.f curing, any arab. iguana, or ot curing, correcting or supplementing any defective prove, ion hereto co.n~m.ed, a.s the ~,~ty ma, y deem necessary or desirable; or (b) if such amendment cloes not matenauy unpatr or aoversely affect the interests of any such Bondholder or Participating Party in the opinion of the City Council; or (c) if such amendments apply solely to Bonds not theretofore issued hereunder or Participating Parties with respect to whom Projects have not theretofore been financed hereunder. Section 21 . Partial Invalidity. If any Section, paragraph, sentence, c.lause or phras.e, this Ordinance shall for any reason be held illegal or unenforceable, such holding shall not affect the validity of the remaining portions of this Ordinance. The City Council hereby declares that it would have adopted this Ordinance and each and every other Section, paragraph, sentence, clause or phrase hereof and authorized the proceedings authorized to be taken pursuant thereto irrespective of the fact that any one or more Sections, paragraphs, sentences, clauses, or phrases of this Ordinance may be held illegal, invalid or unenforceable. Section 22. Effective Date of Ordinance. This Ordinance shall take effect from and after the 30th day following the date of its passage and adoption. 8