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by the registration books kept by the Registrar, of any notice with respect to the Series 2016B
<br /> Bonds, including any notice of redemption, or (iii) the payment to any Participant or any other
<br /> person, other than a registered owner of Series 2016B Bonds, or any amount with respect to
<br /> principal of, premium, if any, or interest on the Series 2016B Bonds. The City, the Registrar and
<br /> the Paying Agent may treat and consider the person in whose name each Series 2016B Bond is
<br /> registered in the registration books kept by the Registrar as the holder and absolute owner of
<br /> such Series 2016B Bond for the purpose of payment of principal, premium and interest with
<br /> respect to such Series 2016B Bond, for the purpose of registering transfers with respect to such
<br /> Series 2016B Bonds, and for all other purposes. The Paying Agent shall pay all principal of,
<br /> premium, if any, and interest on the Series 2016B Bonds only to or on the order of the respective
<br /> registered owners, as shown in the registration books kept by the Registrar, and all such
<br /> payments shall be valid and effectual to fully satisfy and discharge the City's obligations with
<br /> respect to payment of principal of,premium, if any, or interest on the Series 2016B Bonds to the
<br /> extent of the sum or sums so paid. No person other than a registered owner of Series 2016B
<br /> Bonds, as shown in the registration books kept by the Registrar, shall receive a certificated Series
<br /> 2016B Bond evidencing the obligation of this resolution. Upon delivery by DTC to the City of a
<br /> written notice to the effect that DTC has determined to substitute a new nominee in place of
<br /> Cede & Co., and the words "Cede & Co.," shall refer to such new nominee of DTC; and upon
<br /> receipt of such a notice, the City shall promptly deliver a copy of the same to the Registrar and
<br /> Paying Agent, if the Paying Agent is other than the Registrar.
<br /> 6.05. Transfers Outside Book-Entry System. In the event the City, by resolution of the
<br /> Commission, determines that it is in the best interests of the persons having beneficial interest in
<br /> the Series 2016B Bonds that they be able to obtain Series 2016B Bond certificates, the City shall
<br /> notify DTC, whereupon DTC shall notify the Participants, of the availability through DTC of
<br /> Series 2016B Bond certificates. In such event the City shall issue, transfer and exchange Series
<br /> 2016B Bond certificates as requested by DTC and any other registered owners in accordance
<br /> with the provisions of this Resolution. DTC may determine to discontinue providing its services
<br /> with respect to the Series 2016B Bonds at any time by giving notice to the City and discharging
<br /> its responsibilities with respect thereto under applicable law. In such event, if no successor
<br /> securities depository is appointed, the City shall issue and the Registrar shall authenticate Series
<br /> 2016B Bond certificates in accordance with this resolution and the provisions hereof shall apply
<br /> to the transfer, exchange and method of payment thereof.
<br /> 6.06. Payments to Cede & Co.Notwithstanding any other provision of this resolution to
<br /> the contrary, so long as any Series 2016B Bond is registered in the name of Cede & Co., as
<br /> nominee of DTC, all payments with respect to principal of,premium, if any, and interest on such
<br /> Series 2016B Bond and all notices with respect to such Series 2016B Bond shall be made and
<br /> given, respectively in the manner provided in the representation letter executed by the City and
<br /> on file with DTC.
<br /> Section 7. Notice of Redemption. At least thirty days before the date set for
<br /> mandatory redemption of any Series 2016B Bond,the City shall cause notice of such redemption
<br /> to be mailed to the registered Holder of each Series 2016B Bond to be redeemed,but no defect in
<br /> or failure to give such mailed notice of redemption shall affect the validity of proceedings for the
<br /> redemption of any Series 2016B Bond not affected by such defect or failure. The notice of
<br /> redemption shall specify the redemption date, redemption price, the numbers, interest rates and
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<br /> 479283v3 JSB EL185-42
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