PRILIMINARY OFFIC STATEMENT 11-15-2001 44.

Home Browse Search

When there shall have been deposited at any time with the Trustee in trust for the purpose, cash or non-callable Government Obligations the principal and interest on which shall be sufficient to pay the principal of any Bonds (and premium, if any) when the same become due, either at maturity or otherwise, or at the date fixed for the redemption thereof and to pay all interest with respect thereto at the due dates for such interest or to the date fixed for redemption,for the use and benefit of the Holders thereof,then upon such deposit all such Bonds shall cease to be entitled to any lien, benefit or security of the Indenture except the right to receive the funds so deposited and such rights of transfer and exchange of Bonds as are provided in the Indenture, and such Bonds shall be deemed not to be outstanding under the Indenture; and it shall be the duty of the Trustee to hold the cash and securities so deposited for the benefit of the Holders of such Bonds,and from and after such date,redemption date or maturity, interest on such Bonds shall cease to accrue. Supplemental Indentures The City,upon resolution,and the Trustee from time to time and at any time,subject to the conditions and restrictions in the Indenture, may enter into such indentures supplemental to the Indenture without the consent of any Bondholder for any one or more of the following purposes: (a) To correct the description of any property pledged by the Indenture or intended so to be, or to assign, convey, pledge or transfer and set over unto the Trustee, subject to such liens or other encumbrances as shall be therein specifically described, additional property or properties of the Borrower for the equal and proportional benefit and security of the Holders of all Bonds, at any time issued and outstanding under the Indenture,subject,however,to the provisions hereinabove set forth with respect to extended Bonds; (b) To evidence removal or appointment of any trustee or paying agent under the Indenture; (c) To cure any ambiguity or to correct or supplement any provision contained in the Indenture or in any supplemental indentures which may be defective or inconsistent with any other provision contained in the Indenture or in any supplemental indenture; (d) To modify,eliminate and/or add to the provisions of the Indenture to such extent as shall be necessary to effect the qualification of the Indenture under the Trust Indenture Act of 1939, as then amended, or under any similar Federal statute hereafter enacted, and to add to the Indenture such other provisions as may be expressly permitted by said Trust Indenture Act of 1939, excluding, however, the .rovisions referred to in Section 316 a 2 of said Trust Indenture Act of 1939. (e) To permit the issuance of Additional Bonds.