5.3. SR 02-06-2006 - Laserfiche WebLink

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and interest on the Series 2006A 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 2006A Bonds to the extent ofthe sum or sums so paid. No person other than a registered owner of Series 2006A Bonds, as shown in the registration books kept by the Registrar, shall receive a certificated Series 2006A 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 ofDTC; and upon receipt of such a notice, the City shall promptly deliver a copy of the same to the Registrar and Paying Agent, if the Paying Agent is other than the Registrar. 6.05. Transfers Outside Book-Entry System. In the event the City, by resolution of the Commission, determines that it is in the best interests of the persons having beneficial interest in the Series 2006A Bonds that they be able to obtain Series 2006A Bond certificates, the City shall notify DTC, whereupon DTC shall notify the Participants, of the availability through DTC of Series 2006A Bond certificates. In such event the City shall issue, transfer and exchange Series 2006A Bond certificates as requested by DTC and any other registered owners in accordance with the provisions of this Resolution. DTC may determine to discontinue providing its services with respect to the Series 2006A Bonds at any time by giving notice to the City and discharging its responsibilities with respect thereto under applicable law. In such event, ifno successor securities depository is appointed, the City shall issue and the Registrar shall authenticate Series 2006A Bond certificates in accordance with this resolution and the provisions hereof shall apply to the transfer, exchange and method of payment thereof. 6.06. PaYments to Cede & Co. Notwithstanding any other provision of this resolution to the contrary, so long as any Series 2006A Bond is registered in the name of Cede & Co., as nominee of DTC, all payments with respect to principal of, premium, if any, and interest on such Series 2006A Bond and all notices with respect to such Series 2006A Bond shall be made and given, respectively in the manner provided in the representation letter executed by the City and on file with DTC. Section 7. Notice of Redemption. At least thirty days before the date set for optional or mandatory redemption of any Series 2006A Bond, the City shall cause notice of such redemption to be mailed to the registered Holder of each Series 2006A Bond to be redeemed, but no defect in or failure to give such mailed notice of redemption shall affect the validity of proceedings for the redemption of any Series 2006A Bond not affected by such defect or failure. The notice of redemption shall specify the redemption date, redemption price, the numbers, interest rates and CUSIP numbers of the Series 2006A Bonds to be redeemed and the place at which the Series 2006A Bonds are to be surrendered for payment, which shall be the principal office of the Registrar. Notice of redemption having been given as aforesaid, the Series 2006A Bonds or portions thereof so to be redeemed shall, on the redemption date, become due and payable at the redemption price therein specified and from and after such date (unless the City shall default in the payment of the redemption price) such Series 2006A Bonds or portions thereof shall cease to bear interest. 1861915vl 18