5.3. SR 08-02-2004 - Laserfiche WebLink

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or trust company authorized by law to conduct such business, such corporation shall be authorized to act as successor Registrar. The City agrees to pay the reasonable and customary charges of the Registrar for the services performed. The City reserves the right to remove any Registrar upon thirty days' notice and upon the appointment of a successor Registrar, in which event the predecessor Registrar shall deliver all cash and Bonds in its possession to the successor Registrar and shall deliver the Bond Register to the successor Registrar. On or before each principal or interest due date, without further order of this Commission, there shall be transmitted to the Registrar, from amounts on hand in the Debt Service Account available therefore, an amount sufficient to pay all principal and interest then due on the Bonds. 6.03. The Series 2004A Bonds shall be initially issued in the form of a separate single typewritten or printed fully registered Series 2004A Bond for each of the maturities set forth in this Resolution. Upon initial issuance, the ownership of each such Series 2004A Bond shall be registered in the registration books kept by the Registrar in the name of Cede & Co., as nominee for The Depository Trust Company, New York, New York, and its successors and assigns ("DTC"). Except as provided in this Section, all of the outstanding Series 2004A Bonds shall be registered in the registration books kept by the Registrar in the name of Cede & Co., as nominee of DTC. 6.04. With respect to Series 2004A Bonds registered in the registration books kept by the Registrar in the name of Cede & Co., as nominee of DTC, the City, the Registrar and the Paying Agent shall have no responsibility or obligation to any broker dealers, banks and other financial institutions from time to time for which DTC holds Series 2004A Bonds as securities depository (the "Participants") or to any other person on behalf of which a Participant holds an interest in the Series 2004A Bonds, including but not limited to any responsibility Or obligation with respect to (i) the accuracy of the records of DTC, Cede & Co. or any Participant with respect to any ownership interest in the Series 2004A Bonds, (ii) the delivery to any Participant or any other person other than a registered owner of Series 2004A Bonds, as shown by the registration books kept by the Registrar, of any notice with respect to the Series 2004A Bonds, including any notice of redemption, or (iii) the payment to any Participant or any other person, other than a registered owner of Series 2004A Bonds, or any amount with respect to principal of, premium, if any, or interest on the Series 2004A Bonds. The City, the Registrar and the Paying Agent may treat and consider the person in whose name each Series 2004A Bond is registered in the registration books kept by the Registrar as the holder and absolute owner of such Series 2004A Bond for the purpose of payment of principal, premium and interest with respect to such Series 2004A Bond, for the purpose of registering transfers with respect to such Series 2004A Bonds, and for all other purposes. The Paying Agent shall pay all principal of, premium, if any, and interest on the Series 2004A Bonds only to or on the order of the respective registered owners, as shown in the registration books kept by the Registrar, and all such payments shall be valid and effectual to fully satisfy and discharge the City's obligations with respect to payment of principal of, premium, if any, or interest on the Series 2004A Bonds to the extent of the sum or sums so paid. No person other than a registered owner of Series 2004A Bonds, as shown in the registration books kept by the Registrar, shall receive a certificated Series 2004A Bond evidencing the obligation of this resolution. Upon delivery by DTC to the City of a written notice to the effect that DTC has determined to substitute a new nominee in place of Cede & Ca, and the words "Cede & Co.," shall refer to such new nominee of DTC; and upon receipt of such 1670578vl 16