3.72.160 Trust funds.

   All moneys received pursuant to the provisions of this ordinance, whether proceeds from the sale of bonds or revenues, shall be deemed to be trust funds to be held and applied solely for the purposes of this ordnance. Any bank or trust company in which such moneys are deposited shall act as trustee of such moneys and shall hold and apply the same for the purposes specified in this ordinance, subject to the terms of the resolution or trust agreement authorizing the bonds.

(Ord. 1423 (part))

3.72.170 Liberal construction.

   This ordinance, being necessary for the health, welfare and safety of the city and its residents, shall be liberally construed to effect its purposes. Furthermore, the city council hereby declares that this ordinance is an exercise of the power granted to the city by the City Charter and the Constitution of the state and is an exercise by the city of its powers as to municipal affairs and its police powers, and this ordinance shall be liberally construed to uphold its validity under the laws of the state.

(Ord. 1423 (part))

3.72.180 Supplemental and additional powers.

   This ordinance shall be deemed to provide a complete, additional, and alternative method for doing the things authorized thereby, and shall be regarded as supplemental and additional to the powers conferred by other laws. The issuance of bonds under the provisions of this ordinance need not comply with the requirements of any other law applicable to the issuance of bonds.

(Ord. 1423 (part))

3.72.190 Actions to determine validity of bonds and proceedings.

   An action may be brought pursuant to Chapter 9 (commencing with Section 860 of Title 10 of Part 9 of the Code of Civil Procedure) to determine the validity of bonds and the legality and validity of all proceedings previously taken and (as provided in the bond resolution) proposed to be taken for the authorization, issuance, sale, and delivery of the bonds and for the payment of the principal thereof and interest thereon.

(Ord. 1423 (part))

3.72.200 Amendment of ordinance.

   This ordinance shall not be amended so as to effect adversely the rights of the holders of any outstanding bonds theretofore issued hereunder, or the rights of participating parties with respect to whom projects have theretofore been financed hereunder, without the written consent of such bondholders and participating parties; provided, however, that this ordinance may be amended at any time:

   A.   To make such provisions for the purpose of curing any ambiguity, or of curing, correcting or supplementing any defective provision herein contained, as the city may deem necessary or desirable: or

   B.   If such amendment does not materially impair or adversely affect the interests of any such bondholder or participating party in the opinion of the city council; or

   C.   If such amendments apply solely to bonds not theretofore issued hereunder or participating parties with respect to whom projects have not theretofore been financed hereunder.

( Ord. 1423 ( part ))

3.72.210 Partial invalidity.

   If any section, paragraph, sentence, clause or phrase of this ordinance shall for any reason be held illegal or unenforceable, such holding shall not affect the validity of the remaining portions of this ordinance. The city council hereby declares that it would have adopted this ordinance and each and every other section, paragraph, sentence, clause or phrase hereof and authorized the proceedings authorized to be taken pursuant thereto irrespective of the fact that any one or more sections, paragraphs, sentences, clauses, or phrases of this ordinance may be held illegal, invalid or unenforceable.

(Ord. 1423 ( part))