5.1. & 5.2. SR 11-10-2003 - Laserfiche WebLink

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may terminate the services of the Depository with respect to the Bonds if the City determines that the Depository is no longer able to carry out its functions as securities depository or the continuation of the system of book-entry txansfers through the Depository is not in the best interests of the City. (ii) Upon termination of the services of the Depository as provided in the preceding paragraph, and if no substitute securities depository is willing to undertake the functions of the Depository hereunder can be found which, in the opinion of the City, is willing and able to assume such functions upon reasonable or customary terms, or if the City determines that it is in the best interests of the City that the Beneficial Owners be issued certificates for the Bonds, the Bonds shah no longer be registered in the name of the Nominee, but may be registered in whatever name or names the Holder of the Bonds shall designate at that time, in accordance with paragraph 11 hereof. To the extent that the Beneficial Owners are designated as the transferee by the Holders, in accordance with paragraph 11 hereof, the Bonds will be delivered to the Beneficial Owners. (iii) Nothing in this subparagraph (c) shall limit or restrict the provisions of paragraph 11 hereof. (d) Blanket Issuer Letter of Representations. The City's execution of the City the Blanket Issuer Letter of Representations (the "Letter of Representations") in substantially the form on file in the offices of the City is hereby ratified and approved. The provisions in the Letter of Representations are incorporated herein by reference and made fully a part of this Resolution to the same extent as if set forth in full herein, and if and to the extent that any provisions of this Resolution are inconsistent or in conflict with the provisions of the Letter of Representations, the provisions in the Letter of Representations shall control. 3. Tide; Original Issue Date; Denominations; Maturities. The Bonds shall be tided "General Obligation Improvement Bonds, Series 2003A," shall be dated December 9, 2003, as the date of original issue and shall be issued forthwith on or after such date as fully registered bonds. The Bonds shall be numbered from R-1 upward in the denomination of $5,000 each or in any integral multiple thereof of a single maturity. The Bonds shall mature on February 1 in the years and amounts as follows: Years Amounts Years Amounts 2005 $185,000 2010 $95,000 2006 230,000 2011 90,000 2007 230,000 2012 95,000 2008 100,000 2013 95,000 2009 95,000 2014 60,000 As may be permitted in the offering of the Bonds and as may be requested by the Purchaser, one or more term Bonds may be issued having mandatory sinking fund redemption and S:\ADMIN \Resoluhons\2003 Resolutions\ Unapproved\Bondl.DOC 5