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<br /> <br /> <br /> <br /> li <br /> i <br /> 3 <br /> i <br /> I <br /> ~.05. The City will use its best efforts to comply with any federal procedural <br /> require ents which may apply in order to effectuate the designations made by this section. <br /> r <br /> ! <br /> ! <br /> ~ection 7. Book-Entry System-, Limited Obligation of City. <br /> r: <br /> ~.01. The Bonds will be initially issued in the form of a separate single typewritten or <br /> printe fully registered Bond for each of the maturities set forth in Section 1.03 hereof. Upon <br /> initial ~suance, the ownership of each Bond will be registered in the registration books kept by <br /> the Re istrar in the name of Cede & Co., as nominee for The Depository Trust Company, New <br /> York, ew York, and its successors and assigns ("DTC"). Except as provided in this section, all <br /> of the utstanding Bonds will be registered in the registration books kept by the Registrar in the <br /> name Cede & Co., as nominee of DTC. <br /> i <br /> 4 !7.02. With respect to Bonds registered in the registration books kept by the Registrar in <br /> then e of Cede & Co., as nominee of DTC, the City, the Registrar and the Paying Agent will <br /> have responsibility or obligation to any broker dealers, banks and other financial institutions <br /> from t e to time for which DTC holds Bonds as securities depository (the "Participants") or to <br /> any of r person on behalf of which a Participant holds an interest in the Bonds, including but <br /> not h ted to any responsibility or obligation with respect to (i) the accuracy of the records of <br /> DTC, ede & Co. or any Participant with respect to any ownership interest in the Bonds, (ii) the <br /> delive to any Participant or any other person (other than a registered owner of Bonds, as shown <br /> by the registration books kept by the Registrar,) of any notice with respect to the Bonds, <br /> includ g any notice of redemption, or (iii) the payment to any Participant or any other person, <br /> other an a registered owner of Bonds, of any amount with respect to principal of, premium, if <br /> any, interest on the Bonds. The City, the Registrar and the Paying Agent may treat and <br /> consi r the person in whose name each Bond is registered in the registration books kept by the <br /> Regis as the holder and absolute owner of such Bond for the purpose of payment of principal, <br /> premi and interest with respect to such Bond, for the purpose of registering transfers with <br /> respect to such Bonds, and for all other purposes. The Paying Agent will pay all principal of, <br /> premi , if any, and interest on the Bonds only to or on the order of the respective registered <br /> owner as shown in the registration books kept by the Registrar, and all such payments will be <br /> valid and effectual to fully satisfy and discharge the City's obligations with respect to payment <br /> of pri ipal of, premium, if any, or interest on the Bonds to the extent of the sum or sums so <br /> paid. o person other than a registered owner of Bonds, as shown in the registration books kept <br /> by the Registrar, will receive a certificated Bond evidencing the obligation of this resolution. <br /> Upon delivery by DTC to the City Manager of a written notice to the effect that DTC has <br /> dete ned to substitute a new nominee in place of Cede & Co., the words "Cede & Co.," will <br /> refer such new nominee of DTC; and upon receipt of such a notice, the City Manager will <br /> prom y deliver a copy of the same to the Registrar and Paying Agent. <br /> ! <br /> d <br /> 310072v ~ JB NE136-214 15 <br /> Ir <br /> B~ <br /> i3 <br /> ii i <br />