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<br /> <br /> di <br /> i{ <br /> ij <br /> d: <br /> officer ' employees or agents to take, all affirmative action within its power that may be <br /> necess ~y to ensure that such interest will not become subject to taxation under the Code and <br /> applic $le Treasury Regulations, as presently existing or as hereafter amended and made <br /> applic #le to the Bonds. <br /> <br /> 1~.02. No Rebate Required. The City will comply with requirements necessary under the <br /> Code establish and maintain the exclusion from gross income of the interest on the Bonds <br /> under ection 103 of the Code, including without limitation requirements relating to temporary <br /> period for investments, limitations on amounts invested at a yield greater than the yield on the <br /> Bonds} and the rebate of excess investment earnings to the United States. <br /> <br /> 5.03. Not Private Activity Bonds. The City further covenants not to use the proceeds of <br /> the B ds or to cause or permit them or any of them to be used, in such a manner as to cause the <br /> Bonds o be "private activity bonds" within the meaning of Sections 103 and 141 through 150 of <br /> the C e. <br /> i <br /> 04. Procedural Requirements. The City will use its best efforts to comply with any <br /> federa procedural requirements which may apply in order to effectuate the designations made by <br /> this se ion. <br /> ~1 <br /> d Section 7. Book-Entry System, Limited Obligation of City. <br /> <br /> 17.01. DTC. The Bonds will be initially issued in the form of a separate single <br /> typew tten or printed fully registered Bond for each of the maturities set forth in Section 1.03 <br /> hereof. Upon initial issuance, the ownership of each Bond will be registered in the registration <br /> books ept by the Bond Registrar in the name of Cede & Co., as nominee for The Depository <br /> Trust ompany, New York, New York, and its successors and assigns ("DTC"). Except as <br /> provi d in this section, all of the outstanding Bonds will be registered in the registration books <br /> kept b the Bond Registrar in the name of Cede & Co., as nominee of DTC. <br /> 7.02. Participants. With respect to Bonds registered in the registration books kept by <br /> the B d Registrar in the name of Cede & Co., as nominee of DTC, the City, the Bond Registrar <br /> and q Paying. Agent will have no responsibility or obligation to any broker dealers, banks and <br /> other ancial institutions from time to time for which DTC holds Bonds as securities depository <br /> (Parti lpants) or to any other person on behalf of which a Participant holds an interest in the <br /> Bond, including but not limited to any responsibility or obligation with respect to (i) the <br /> accur y of the records of DTC, Cede & Co. or any Participant with respect to any ownership <br /> interest in the Bonds, (ii) the delivery to any Participant or any other person (other than a <br /> regist fed owner of Bonds, as shown by the registration books kept by the Bond Registrar,) of <br /> any notice with respect to the Bonds, including any notice of redemption, or (iii) the payment to <br /> any P icipant or any other person, other than a registered owner of Bonds, of any amount with <br /> respe to principal of, premium, if any, or interest on the Bonds. The City, the Bond Registrar <br /> and the Paying Agent may treat and consider the person in whose name each Bond is registered <br /> in th . registration books kept by the Bond Registrar as the holder and absolute owner of such <br /> Bond or the purpose of payment of principal, premium and interest with respect to such Bond, <br /> for th purpose of registering transfers with respect to such Bonds, and for all other purposes. <br /> d' <br /> <br /> 310082v 11SJB NE136-215 <br /> 13 <br /> li <br /> f' <br /> ij <br />