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9/27/2021 3:25:22 PM
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10/5/2006 3:40:49 PM
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City Council
City Council - Type
CC Packets
Date
10/5/2006
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maturity amounts conforming to the foregoing principal repayment <br /> schedule, and corresponding additions may be made to the <br /> provisions of the applicable Bond(s) . <br /> (b) Book Entry Only System. The Depository Trust <br /> Company, a limited purpose trust company organized under the laws <br /> of the State of New York or any of its successors or successors <br /> to its functions hereunder (the "Depository" ) will act as <br /> securities depository for the Bonds, and to this end: <br /> (i) The Bonds shall be initially issued and, so long <br /> as they remain in book entry form only (the "Book Entry Only <br /> Period" ) , shall at all times be in the form of a separate <br /> single fully registered Bond for each maturity of the Bonds; <br /> and for purposes of complying with this requirement under <br /> paragraphs 5 (with respect to redemption) and 10 (with <br /> respect to registration, transfer and exchange) Authorized <br /> Denominations for any Bond shall be deemed to be limited <br /> during the Book Entry Only Period to the outstanding <br /> principal amount of that Bond. <br /> (ii) Upon initial issuance, ownership of the Bonds <br /> shall be registered in a bond register maintained by <br /> (the "Bond Registrar" ) in the <br /> name of CEDE & CO. , as the nominee (it or any nominee of the <br /> existing or a successor Depository, the "Nominee" ) . <br /> (iii) With respect to the Bonds neither the City nor <br /> the Bond Registrar shall have any responsibility or <br /> obligation to any broker, dealer, bank, or any other <br /> financial institution for which the Depository holds Bonds <br /> as securities depository (the "Participant" ) or the person <br /> for which a Participant holds an interest in the Bonds shown <br /> on the books and records of the Participant (the "Beneficial <br /> Owner") . Without limiting the immediately preceding <br /> sentence, neither the City, nor the Bond Registrar, shall <br /> have any such responsibility or obligation with respect to <br /> (A) the accuracy of the records of the Depository, the <br /> Nominee or any Participant with respect to any ownership <br /> interest in the Bonds, or (B) the delivery to any <br /> Participant, any Owner or any other person, other than the <br /> Depository, of any notice with respect to the Bonds, <br /> including any notice of redemption, or (C) the payment to <br /> any Participant, any Beneficial Owner or any other person, <br /> other than the Depository, of any amount with respect to the <br /> principal of or premium, if any, or interest on the Bonds, <br /> or (D) the consent given or other action taken by the <br /> Depository as the Registered Holder of any Bonds (the <br /> "Holder") . For purposes of securing the vote or consent of <br /> any Holder under this Resolution, the City may, however, <br /> rely upon an omnibus proxy under which the Depository <br /> assigns its consenting or voting rights to certain <br /> 1194249.1 3 <br />
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