Laserfiche WebLink
Depository as the registered owner of any Bonds (the "Holder"). For purposes of <br />securing the vote or consent of any Holder under this Resolution, the City may, <br />however, rely upon an omnibus proxy under which the Depository assigns its <br />consenting or voting rights to certain Participants to whose accounts the Bonds are <br />credited on the record date identified in a listing attached to the omnibus proxy. <br /> <br /> (iv) The City and the Bond Registrar may treat as and deem the <br />Depository to be the absolute owner of the Bonds for the purpose of payment of the <br />principal of and premium, if any, and interest on the Bonds, for the purpose of <br />giving notices of redemption and other matters with respect to the Bonds, for the <br />purpose of obtaining any consent or other action to be taken by Holders for the <br />purpose of registering transfers with respect to such Bonds, and for all purpose <br />whatsoever. The Bond Registrar, as paying agent hereunder, shah pay aH principal of <br />and premium, if any, and interest on the Bonds only to or upon the Holder or the <br />Holders of the Bonds, as shown on the Bond Registrar's bond register, and all such <br />payments shall be valid and effective to fully satisfy and discharge the City's <br />obligations with respect to the principal of and premium, if any, and interest on the <br />Bonds to the extent of the sum or sums so paid. <br /> <br /> (v) Upon delivery by the Depository to the Bond Registrar of written <br />notice to the effect that the Depository has determined to substitute a new Nominee <br />in place of the existing Nominee, and subject to the transfer provisions applicable to <br />the Bonds, references to the Nominee hereunder shah refer to such new Nominee. <br /> <br /> (vi) So long as any Bond is registered in the name of a Nominee, all <br />payments xvith respect to the principal of and premium, if any, and interest on such <br />Bond and all notices with respect to such Bond shall be made and given, <br />respectively, by the Bond Registrar or the City, as the case may be, to the Depository <br />as provided in the Letter of Representations. <br /> <br /> (vii) All transfers of beneficial ownership interests in each Bond issued in <br />book-entry form shall be limited in principal amount to authorized denominations <br />and shall be effected by the Depository with the Participants for recording and <br />transferring the ownership of beneficial interests in such Bonds. <br /> <br /> (viii) In connection with any notice or other communication to be <br />provided to the Holders pursuant to this Resolution by the City or the Bond <br />Registrar with respect to any consent or other action to be taken by Holders, the <br />Depository shah consider the date of receipt of notice requesting such consent or <br />other action as the record date for such consent or other action; provided, that the <br />City or the Bond Registrar may estabhsh a special record date for such consent or <br />other action. The City or the Bond Registrar shall, to the extent possible, give the <br />Depository notice of such special record date not less than 15 calendar days in <br />advance thereof to the extent possible. <br /> <br /> (ix) Any successor Bond Registrar, in its written acceptance of its duties <br />under this Resolution and any paying agency registrar agreement, shall agree to take <br /> <br />S:~ADMIN\Resolufions\2003 Resolutions\Unapproved~Bond2.DOC <br /> <br /> <br />