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obligations, duties and immunities under this Ordinance of the <br />City, the Trustee and of the Owners of the Bonds shall thereafter <br />be determined, exercised and enforced hereunder subject in all <br />respects to such modifications and amendments, and all of the <br />terms and conditions of any such Supplemental Ordinance shall be <br />a part of the terms and conditions of the Bonds and of this <br />ordinance far any and all purposes. <br />8.8. Certain Bonds Deemed not Outstandin <br />Hereunder, In determining whether the Owners of the requisite <br />aggregate principal amount of Bonds have consented to the <br />amendment of this Ordinance, or have concurred in any waiver of <br />an Event of Default, ar have concurred in any other direction or <br />consent regarding this Ordinance, Bonds which are owned or <br />controlled directly or indirectly by the City shall be <br />disregarded and deemed not to be Outstanding for the purpose of <br />any such determination, except that for the purpose of <br />determining whether the Trustee shall be protected in relying on <br />any such waiver, direction or consent, only Bonds which the <br />Trustee knows are so owned shall be so disregarded. <br />8.9. Ordinance to Constitute a Contract with <br />Bondowners; Enforcement of Same. So long as any of the. Bonds are <br />outstanding, each of the obligations, duties, limitations and <br />restraints imposed upon the City by this ordinance shall be <br />deemed to be a covenant between the City and every owner of said <br />Bonds, and this Ordinance and every provision and covenant hereof <br />and the provisions of ORS 288,805 to 288.945 shall constitute a <br />contract with every Owner from time to time of said Bonds, and <br />shall be enforceable by any owner of a Bond by mandamus or other <br />appropriate action or proceeding at law or in equity in any court <br />of competent jurisdiction, including, without limiting the <br />generality of the foregoing, the bringing of a suitor suits to <br />compel compliance with the provisions of this Ordinance in the <br />event the City fails to set aside and pay the Revenues into the <br />Bond Fund as required by Sections 4,2 and 4.3 hereof, <br />Page 54 - Ordinance <br />