July (pdf) - New York Power Authority

together with other moneys available therefor (including the anticipated receipt of proceeds of sale of
Obligations or other bonds, notes, or other obligations or evidences of indebtedness of the Authority that will
be used to pay the principal of Obligations issued in anticipation of such receipt but not including any
anticipated or actual proceeds from the sale of any Project), (i) to pay all Operating Expenses of the
Authority, (ii) to pay the debt service on all Obligations then Outstanding and the debt service on all
Subordinated Indebtedness then outstanding, and all Parity Debt and Subordinated Contract Obligations, all
as the same respectively become due and payable, and (iii) to maintain any reserve established by the
Authority pursuant to the General Resolution, in such amount as may be determined from time to time by
the Authority in its judgment.
(General Resolution, Sec. 606)
Supplemental Resolutions; Amendments
Any of the provisions of the General Resolution may be amended by the Authority, upon the written
consent of the Owners of a majority in principal amount of the Obligations so affected and Outstanding at
the time such consent is given, and in case less than all of the Obligations then Outstanding are affected by
the modification or amendment, of the Owners of a majority in principal amount of the Obligations so
affected and Outstanding at the time such consent is given; provided, however, that if such modification or
amendment will, by its terms, not take effect so long as particular Obligations remain Outstanding, the consent
of the Owners of such Obligations shall not be required and such Obligations shall not be deemed to be
Outstanding for the purpose of any calculation of Outstanding Obligations under the General Resolution.
No such modification or amendment shall permit a change in the terms of redemption or maturity of the
principal of any Outstanding Obligation or of any installment of interest thereon or a reduction in the
principal amount or the Redemption Price thereof or in the rate of interest thereon without the consent of
the Owner of such Obligation, or shall reduce the percentages or otherwise affect the classes of
Obligations the consent of the Owners of which is required to waive an Event of Default or otherwise
effect any such modification or amendment, create a preference or priority of any Obligation or Obligations
over any other Obligation or Obligations (without the consent of the Owners of all such Obligations), create a
lien prior to or on a parity with the lien of the General Resolution, without the consent of the Owners of all
of the Obligations then Outstanding, or shall change or modify any of the rights or obligations of any
Fiduciary without its written assent thereto. For purposes of this paragraph, an Obligation shall be deemed
to be affected by a modification or amendment of the General Resolution if the same materially and
adversely affects the rights of the Owner of such Obligation.
The Authority may adopt (without the consent of any Owner) supplemental resolutions to authorize
additional Obligations; to add to the restrictions contained in the General Resolution upon the issuance of
additional indebtedness; to add to the covenants of the Authority contained in, or surrender any rights reserved
to or conferred upon it by, the General Resolution; to confirm any pledge under the General Resolution of
Revenues or other moneys; to amend the General Resolution in such manner as to permit qualification of the
General Resolution under the Trust Indenture Act of 1939 or any similar Federal statute and permit the
qualification of the Obligations for sale under the securities laws of any state in the United States; to comply
with such regulations and procedures as are from time to time in effect relating to establishing and
maintaining a book-entry-only system; or otherwise to modify any of the provisions of the General Resolution
(but no such other modification may be effective while any of the Obligations of any Series theretofore issued
are Outstanding); or to cure any ambiguity, supply any omission or to correct any defect or inconsistent
provision in the General Resolution or to insert such provisions or make such other amendments to the General
Resolution as are necessary or desirable which will not be materially adverse to the rights of the Owners of
Obligations (provided that the Trustee shall consent thereto).
App. 1-11