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~x i 's officer ' employees or agents to take, all affirmative action within its power that may be necessy to ensure that such interest will not become subject to taxation under the Code and applica. le Treasury Regulations, as presently existing or as hereafter amended and made applic4$le to the Bonds. .02. No Rebate Required. The City will comply with requirements necessary under the Code establish and maintain the exclusion from gross income of the interest on the Bonds under ection 103 of the Code, including without limitation requirements relating to temporary period for investments, limitations on amounts invested at a yield greater than the yield on the Bonds] ~.nd the rebate of excess investment earnings to the United States. I~ 1 X6.03. Not Private Activity Bonds. The City further covenants not to use the proceeds of the B ds or to cause or permit them or any of them to be used, in such a manner as to cause the Bonds o be "private activity bonds" within the meaning of Sections 103 and 141 through 150 of the C e. .04. Procedural Requirements. The City will use its best efforts to comply with any federa procedural requirements which may apply in order to effectuate the designations made by this se ion. # Section 7. Book-Entry System; Limited Obligation of City. 11 117.01. DTC. The Bonds will be initially issued in the form of a separate single type tten or printed fully registered Bond for each of the maturities set forth in Section 1.03 hereo 1 Upon initial issuance, the ownership of each Bond will be registered in the registration books ~ept by the Bond Registrar in the name of Cede & Co., as nominee for The Depository Trust ompany, New York, New York, and its successors and assigns ("DTC"). Except as provi (d in this section, all of the outstanding Bonds will be registered in the registration books kept b the Bond Registrar in the name of Cede & Co., as nominee of DTC. i 7.02. Participants. With respect to Bonds registered in the registration books kept by the B d Registrar in the name of Cede & Co., as nominee of DTC, the City, the Bond Registrar and t Paying Agent will have no responsibility or obligation to any broker dealers, banks and other financial institutions from time to time for which DTC holds Bonds as securities depository ' (Parti pants) or to any other person on behalf of which a Participant holds an interest in the Bond , including but not limited to any responsibility or obligation with respect to (i) the accur y of the records of DTC, Cede & Co. or any Participant with respect to any ownership intere in the Bonds, (ii) the delivery to any Participant or any other person (other than a regist ed owner of Bonds, as shown by the registration books kept by the Bond Registrar,) of any n ice with respect to the Bonds, including any notice of redemption, or (iii) the payment to any P icipant or any other person, other than a registered owner of Bonds, of any amount with respe to principal of, premium, if any, or interest on the Bonds. The City, the Bond Registrar and l Paying Agent may treat and consider the person in whose name each Bond is registered in the tegistration books kept by the Bond Registrar as the holder and absolute owner of such Bond or the purpose of payment of principal, premium and interest with respect to such Bond, for th purpose of registering transfers with respect to such Bonds, and for all other purposes. a 310082JI SJBNE136-215 13 3i ~f