2.0. ERMUSR 08-29-2018 - Laserfiche WebLink

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Optional Redemption The City may elect on August 1, 2028 and on any day thereafter, to redeem Bonds due on or after Au:.ust 1, 2029. Redemption may be in whole or in part and if in part at the option of the City and in suci manner as the City shall determine. If less than all the Bonds of a maturity are called for red:mption, the City will notify DTC of the particular amount of such maturity to be prepaid. DTC will det:rmine by lot the amount of each participant's interest in such maturity to be redeemed and each p. i'cipant will then select by lot the beneficial ownership interests in such maturity to be redeemed. All pre.ayments shall be at a price of par plus accrued interest. Bo i k Entry System The Depository Trust Company ("DTC"),New York, New York, will act as securities depository for the Bo ds. The Bonds will be issued as fully-registered securities registered in the name of Cede & Co. (D C's partnership nominee) or such other name as may be requested by an authorized representative of DTI . One fully-registered certificate will be issued for each maturity of the Bonds, each in the aggregate pri cipal amount of such maturity, and will be deposited with DTC. DTI is a limited-purpose trust company organized under the New York Banking Law, a "banking org. ization" within the meaning of the New York Banking Law, a member of the Federal Reserve Sys em, a"clearing corporation" within the meaning of the New York Uniform Commercial Code, and a "cl:aring agency" registered pursuant to the provisions of Section 17A of the Securities Exchange Act of 193'. DTC holds and provides asset servicing for over 3.5 million issues of U.S. and non-U.S. equity iss -s, corporate and municipal debt issues, and money market instruments (from over 100 countries)that DTI 's participants ("Direct Participants") deposit with DTC. DTC also facilitates the post-trade sett ement among Direct Participants of sales and other securities transactions in deposited securities through electronic computerized book-entry transfers and pledges between Direct Participants' accounts. Thi. eliminates the need for physical movement of securities certificates. Direct Participants include both U.S. and non-U.S. securities brokers and dealers, banks, trust companies, clearing corporations, and certl in other organizations. DTC is a wholly-owned subsidiary of The Depository Trust & Clearing Cor.oration ("DTCC"). DTCC is the holding company for DTC, National Securities Clearing Co .oration, and Fixed Income Clearing Corporation all of which are registered clearing agencies. DTI C is owned by the users of its regulated subsidiaries. Access to the DTC system is also available to oth:rs such as both U.S. and non-U.S. securities brokers and dealers, banks, trust companies and clearing co .orations that clear through or maintain a custodial relationship with a Direct Participant, either directly or indirectly ("Indirect Participants"). The DTC Rules applicable to its Participants are on file wit the Securities and Exchange Commission. More information about DTC can be found at www.dtcc.com. Pur hases of Bonds under the DTC system must be made by or through Direct Participants, which will rec ive a credit for the Bonds on DTC's records. The ownership interest of each actual purchaser of each Bo d ("Beneficial Owner") is in turn to be recorded on the Direct and Indirect Participants' records. Be eficial Owners will not receive written confirmation from DTC of their purchase. Beneficial Owners are, however, expected to receive written confirmations providing details of the transaction, as well as per'odic statements of their holdings, from the Direct or Indirect Participant through which the Beneficial Ow er entered into the transaction. Transfers of ownership interests in the Bonds are to be accomplished by ntries made on the books of Direct and Indirect Participants acting on behalf of Beneficial Owners. Beneficial Owners will not receive certificates representing their ownership interests in the Bonds, except in t e event that use of the book-entry system for the Bonds is discontinued. To acilitate subsequent transfers, all Bonds deposited by Direct Participants with DTC are registered in the name of DTC's partnership nominee, Cede & Co., or such other name as may be requested by an aut orized representative of DTC. The deposit of Bonds with DTC and their registration in the name of Ce.e & Co. or such other DTC nominee do not effect any change in beneficial ownership. DTC has no kno ledge of the actual Beneficial Owners of the Bonds; DTC's records reflect only the identity of the - 3 - 12