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Holder under this Resolution, the City may, however, <br />rely upon an omnibus proxy under which the Depository <br />assigns its consenting or voting rights to certain <br />Participants to whose accounts the Bonds are credited <br />on the record date identified in a listing attached to <br />the omnibus proxy. <br /> <br /> (iv) The City and the Bond Registrar may treat as <br />and deem the Depository to be the absolute owner of the <br />Bonds for the purpose of payment of the principal of <br />and premium, if any, and interest on the Bonds, for the <br />purpose of giving notices of redemption and other <br />matters with respect to the Bonds, for the purpose of <br />obtaining any consent or other action to be taken by <br />Holders for the purpose of registering transfers with <br />respect to such Bonds, and for all purpose whatsoever. <br />The Bond Registrar, as payin9 a~ent hereunder, shall <br />pay all principal of and premium, if any, and interest <br />on the Bonds only to or upon the Holder or the Holders <br />of the Bonds, as shown on the Bond Re~istrar's bond <br />re~ister, and all such payments shall be valid and <br />effective to fully satisfy and discharge the City's <br />obligations with respect to the principal of and <br />premium, if any, and interest on the Bonds to the <br />extent of the sum or sums so paid. <br /> <br /> (v) Upon delivery by the Depository to the Bond <br />Registrar of written notice to the effect that the <br />Depository has determined to substitute a new Nominee <br />in place of the existing Nominee, and subject to the <br />transfer provisions in paragraph 11 hereof, references <br />to the Nominee hereunder shall refer to such new <br />Nominee. <br /> <br /> (vi) So lon~ as any Bond is registered in the <br />name of a Nominee, all payments with respect to the <br />principal of and premium, if any, and interest on such <br />Bond and all notices with respect to such Bond shall be <br />made and ~iven, respectively, by the Bond Registrar or <br />the City, as the case may be, to the Depository as <br />provided in the Blanket Letter of Representations <br />required by the Depository as a condition to its actin~ <br />as book-entry Depository for the Bonds (said Blanket <br />Letter of Representations, together with any <br />replacement thereof or amendment or substitute thereto, <br />including any standard procedures or policies <br />referenced therein or applicable thereto respecting the <br />procedures and other matters relatin~ to the <br />Depository's role as book-entry Depository for the <br />Bonds, are collectively hereinafter referred to as the <br />"Blanket Letter of Representations"). <br /> <br /> (vii) Ail transfers of beneficial ownership <br />interests in each Bond issued in book-entry form shall <br />be limited in principal amount to authorized <br /> <br /> <br />