03-10-10 Regular Meeting of the La Porte Area Water Authority

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"Year" or "fiscal year" means the regular fiscal year used by the Authority in connection with the operation of the System, which may be any 12 consecutive month period established by the Board, presently October 1 to September 30. SECTION 1.2. Notices to Bondholders; Waiver. Wherever this Resolution provides for notice to Bondholders of any event, such notice shall be sufficiently given (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to each Bondholder at the address of such Bondholder as it appears in the Bond Register. Neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular Bondholder shall affect the sufficiency of such notice with respect to all other Bondholders. Wherever this Resolution provides for notice to a Bondholder in any manner, such notice may be waived in writing by such Bondholder, either before or after the event with respect to which such notice is given, and such waiver shall be the equivalent of such notice. Waivers of notice by Bondholders shall be filed with the Authority, but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such waiver. SECTION 1.3. Effect of Headings and Table of Contents. The Article and Section headings herein and in the Table of Contents are for convenience only and shall not affect the construction hereof. SECTION 1.4. Resolution a Contract; Amendments. This Resolution shall constitute a contract with the Holders of the Bonds from time to time accepted by the initial purchase of Bonds, shall be binding on the Authority, and shall not be amended or repealed by the Authority so long as any Bond remains Outstanding except as permitted in this Section. The Authority, may, without the consent of or notice to any Bondholders, from time to time and at any time amend this Resolution with notice to the Bond Insurer: A. to correct or amplify the description of any revenues at any time subject to the lien and pledge granted hereby, or better to assure, pledge, and confirm any property subject or required to be subjected to such lien and pledge, or to subject to such lien and pledge additional property; or B. to add to the conditions, limitations, and restrictions on the authorized amount, terms, or purposes of issue, authentication, and delivery of Parity Bonds, as herein set forth, additional conditions, limitations, and restrictions thereafter to be observed; or C. to add to the covenants of the Authority for the benefit of the Holders of the Bonds or to surrender any right or power herein conferred upon the Authority; or D. to cure any ambiguity, to correct or supplement any provision herein which may be inconsistent with any other provision herein, or to make any other provisions, with respect to matters or questions arising under this Resolution, which shall not be inconsistent with the 7 HOU:3003369.1