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Book Entry, Only Form; Blanket Letter of Representations. Pursuant to the <br />Resolution, the Bonds may be issued in Book Entry Only Form, and during any period in which <br />Bonds are in such form, the provisions applicable to the Bonds pursuant to the Blanket Letter of <br />Representations shall apply, not~vithstandmg any contrary or inconsistent provision herein or in the <br />Resolution. <br /> <br /> Denominations; Exchange; Resolution. The Bonds are issuable solely as fully <br />registered bonds in the denominations of $5,000 and integral multiples thereof of a single maturity <br />and are exchangeable for fully registered bonds of other authorized denominations in equal <br />aggregate principal amounts at the principal office of the Bond Registrar, but only in the manner and <br />subject to the limitations provided in the Resolution. Reference is hereby made to the Resolution <br />for a description of the rights and duties of the Bond Registrar. Copies of the Resolution are on file <br />in the principal office of the Bond Registrar. <br /> <br /> Transfer. This Bond is transferable by the Registered Owner in person or by the <br />Registered Owner's attorney duly authorized in writing at the principal office of the Bond Registrar <br />upon presentation and surrender hereof to the Bond Registrar, all subject to the terms and <br />conditions provided in the Resolution and to reasonable regulations of the City contained in any <br />agreement with the Bond Registrar. Thereupon the City shall execute and the Bond Registrar shall <br />authenticate and deliver, in exchange for this Bond, one or more new fully registered Bonds in the <br />name of the transferee (but not registered in blank or to "bearer" or similar designation), of an <br />authorized denomination or denominations, in aggregate principal amount equal to the principal <br />amount of this Bond, of the same maturity and bearing interest at the same rate. <br /> <br /> Fees upon Transfer or Loss. The Bond Registrar may require payment of a sum <br />sufficient to cover any tax or other governmental charge payable in connection ~vith the transfer or <br />exchange of this Bond and any legal or unusual costs regarding transfers and lost Bonds. <br /> <br /> Treatment of Registered Owners. The City and Bond Registrar may treat the person <br />in whose name this Bond is registered as the owner hereof for the purpose of receiving payment as <br />herein provided (except as otherwise provided herein with respect to the Record Date) and for all <br />other purposes, whether or not this Bond shall be overdue, and neither the City nor the Bond <br />Registrar shall be affected by notice to the contrary. <br /> <br /> Authentication. This Bond shall not be valid or become obligatory for any purpose <br />or be entitled to any security unless the Certificate of Authentication hereon shall have been <br />executed by the Bond Registrar. <br /> <br /> Designation of Bonds as Oualified Tax-Exempt Obligations. The Bonds have been <br />designated by the city as "qualified tax-exempt obligations" for purposes of Section 265(b)(3) of the <br />Internal Revenue Code of 1986, as amended. <br /> <br />S:\ADMIN~Resolutions\2003 Resolutions~Unapproved\Bondl.DOC 12 <br /> <br /> <br />