51-65 Modification & amendment of Trust Indenture dated 12/1/53

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-4- '~ection ll03. Notation of Modification on Bonds and ~ffe'ct o~'"Mod'if'ica~ion. Bonds a~thenti- cared and delivered after the effective' date of any action taken as provided in Sections llO1 and ll02 may, and, if the Trustee so determines, sh~ll bear a notation by endorsement or otherwise, in form approvedby the Issuer and theTrustee, as to such action, and in that case upon demand of the holder of any Bond for the pur- pose at the principal office of the Trustee suitable notation shall be made on such Bond by the Trustee as to any such action. All terms and provisions of Modification Legislation shall be given full effect in accordance with their meaning and the objectives thereof notwithstanding any provision of this Indenture as originallyexecuted." Section 4. That the bonds of the City's Automobile Parking System Revenue Bonds, Series A~ and of the City's Automobile Parking System Revenue Bonds, Series B~ dated December l~ 1953 and September l~ 1956~ respectively, maturing on and after December l~ 1966, be and the same are hereby called for redemption on December l, 1965 at par and accrued interest plus a premiUm of 4% of par. The bonds to be so called are Bonds Nos. A-146 to A-175~ inclusive, (being all of the remaining outstanding bonds of the said Series A issue) and Nos. B-96 to B-240, inclusive, (being all of the remaining out- standing bonds of the said Series B issue). In order to perfect such calls for redemption, the Trustee is hereby authorized and directed to publish or cause to be published notice of such call as provided in the indenture and the officials of this City and the Trustee are hereby authorized and directed to take such further steps as may be required by the indenture, any supplemental indenture, any ordinance authorizing issuance of any of the Bonds or by any paying agent or trustee in order to complete and effectuate the redemption of bonds herein called. Section 5. The Clerk of Council is hereby authorized and directed forthwith to certify a copy of this ordinance to The Cleveland Trust Company~ Trustee under the aforesaid Trust Indenture~ and supplements thereto, and said Trustee is requested to hold the same on file for the inspection of the holders of any of the City's outstanding Automobile Parking System Revenue Bonds. The Mayor and the Director of Finance are hereby directed to take such action as may be necessary to obtain the consent of the holders of all of s~id. Bonds outstanding on and after December 2, 1965, to said modification and ~mendment; to request said Trustee to arrange to have a suitable notation of such modification and amendment, in a form approved by the Director of Law and bythe Trustee, placed upon said Bonds by endorsement or otherwise; and~ upon obtaining such consent, to execute with the aforesaid Trustee and thereupon to cause to be filed for record in the office of the Recorder of Cuyahoga County an appropriate supplemental indenture in a form approved by the Director of Law embodying such modification and amendment of said Trust Indenture pursuant to the provisions of Section ll02 thereof. Section 6. That this ordinance~ h~ving been declared to be an emergency measure, shall be in full force and effect from and immediately after its passage and approval by the Mayor. President of Council ..... clerk of'"C'ouneil Mayor