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884
CITY-OF-BATESVILLE
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-18 - <br />removal, tre jorit,' ; n Uri ncipal amount of t.�e holders of the <br />outstanding bonds may appoint a new Trustee, such appointment to be <br />evidenced by a written instrument or instruments filed with the City <br />Clerk. If the majority in principal amount of the holders of the <br />outstanding bonds shall fail to fill a vacancy within thirty (30) <br />days after the same shall occur, then the City shall forthwith designate <br />a new Trustee by a written instrument filed in the office of the City <br />Clerk. The original Trustee and any successor Trustee shall file a <br />written acceptance and agreement to execute the trusts imposed upon <br />it or them by this Ordinance, but only upon the terms and conditions <br />set forth in this Ordinance and subject to the provisions of this <br />Ordinance, to all cf which the respective holders of the bonds agree. <br />Such written acceptance shall be filed with the City Clerk and a copy <br />thereof shall be placed in the bond transcript. Any successor Trustee <br />shall also become the Paying Agent and shall have all the powers <br />herein granted to the original Trustee and Paying Agent. <br />Section 15. (a) That the terms of this Ordinance shall <br />constitute a contract between the City and the holders and registered <br />owners of the bonds and no variation or change in the undertaking <br />herein set forth shall be made while any of these bonds are outstanding, <br />except as hereinafter set forth in subsection (b), and the holder or <br />registered owner of any bond may at any time for and on his own <br />behalf or for and on behalf of all bondholders enforce the obli- <br />gations of the City by a proper suit for that purpose. <br />(b) Subject to the terms and provisions contained in this <br />Section and not otherwise, the holders and registered owners of not <br />less than seventyfive percent (75%) in aggregate principal amount of <br />the bonds then outstanding shall have the right, from time to time, <br />anything contained in this Ordinance to the contrary notwithstanding, <br />to consent to and approve the adoption by the City of such ordinance <br />supplemental hereto as shall be necessary or desirable for the purpose <br />of modifying, altering, amending, adding to or rescinding, in any <br />particular, any of the terms or provisions contained in this Ordinance <br />or in any supplemental ordinance; provided, however, that nothing <br />herein contained shall permit or be construed as permitting (a) an <br />extension of t'-- maturity of the principal of or 'he interest on anv <br />
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