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1982 Resolutions
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1982 Resolutions
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Last modified
9/25/2001 2:51:45 PM
Creation date
6/22/2001 3:52:59 PM
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Ord/Resolutions
Year
1982
Ord/Resolutions - Type
Resolutions
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Upon the occurrence Of an Event of Default the <br /> holders of not less than twenty-five per centum (25%) in <br /> aggregate principal, amount of the Notes may by an_instrument <br /> ~or instr~3ments in writing filed with the City appoint a <br /> trustee to protect and enforce the rights of the holders of <br /> the..~Notes.; provided~ however, that the holders of a majority <br /> in ~ri~clpaiamount of the Notes .outstanding shall, by in- <br />· .~strume~t or instruments in writing delivered to such <br /> trustee, ~have the right to direct and control any and all <br /> actior~s taken or:Go be.taken by such trustee. <br /> <br /> any Event of Default by the holders <br /> s sha~I~extend to or shall affect any subsequent <br /> Event of Default or shall impair any rights or remedies <br /> consequent theretol The remedies permitted to the holders <br /> of the Notes in this Section 10(g) are in addition to, and <br /> ~not in derogation of, the rights and remedies of~any holder <br /> of the notes permitted by the Constitution and laws of the <br /> ~ ' ~Commonwealth of Virginia. <br /> <br /> The?'obi~igations of~the City under this ResOlution <br /> and the.liens, pledges, 'charges, covenants <br /> <br /> ,~ and agreements Of~th9 ~ity therein or herein made or provided <br /> for, shall belfUil~ ~i~charged and satisfied as to any Note, <br /> such. Note shali~Do 1Qnger be deemed to be outstanding hereunder, <br /> .?if such Note shalt h~ve been cancelled or surrendered for <br /> ~ancellation, o~ When payment of the principal of such Note, plus <br /> interest thereon %o the due date thereof, shall have been <br /> made or caused %0 be made in accordance with the terms <br /> thereof, or if~%here ~hall have been provided for by <br /> irrevocably depositing with a paying agent therefor, in <br /> trust and irrevocabtyappropriated and set aside exclusively <br /> for such payment, money~ in an amount which will be sufficient, <br /> orGove~amen~alDbligatzons maturinga~ to principal and <br /> ~ interest'in suc~'~mo~nts and at such times as.will, together <br /> i~'~'with the moneys~iif any, so deposited at the same time, <br /> provide sufficient~moneys to pay when due the principal · <br />~ ~'~i.~!~of such Note,'~plus interest due ~nd to become due on <br /> · such Note or prior'to.the maturity date thereof.' .Any. ,.~ <br /> - moneys so dePosited w~th a paying agent for the Notes <br /> as provided in this Section.lO(h) may at the direction of <br /> the City also be invested and reinvested in Governmental <br /> Obligations maturing in the a~ounts and times as herein- <br /> before set forth. All income from all investments made <br /> pursuant to this Section lO(h) which is not required <br /> for the payment of the Notes and interest thereon with <br /> respect to which moneys or securities shall have been so <br /> deposited shall be paid to the City as and when realized and <br /> collected. <br /> <br /> <br />
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