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if no substitute securities depository is willing to <br />undertake the functions of the Depository hereunder can <br />be found which, in the opinion of the City, is willing <br />and able to assume such functions upon reasonable or <br />customary terms, or if the City determines that it is <br />in the best interests of the City that the Beneficial <br />Owners be issued certificates for the Bonds, the Bonds <br />shall no longer be registered in the name of the <br />Nominee, but may be registered in whatever name or <br />names the Holder of the Bonds shall designate at that <br />time, in accordance with paragraph 11 hereof. To the <br />extent that the Beneficial Owners are designated as the <br />transferee by the Holders, in accordance with paragraph <br />11 hereof, the Bonds will be delivered to the <br />Beneficial Owners. <br /> <br /> (iii) Nothing in this subparagraph (c) shall <br />limit or restrict the provisions of paragraph 11 <br />hereof. <br /> <br /> (d) Blanket Letter of Representations. The Mayor and <br />City Administrator are authorized to execute in the name of <br />the City the Blanket Letter of Representations in <br />substantially the form on file in the offices of the City. <br />In the event of the disability or the resignation or other <br />absence of the Mayor or City Administrator, such other <br />officers of the City who may act in their behalf shall <br />without further act or authorization of the City do all <br />things and execute all instruments and documents required to <br />be done or to be executed by such absent or disabled <br />officials. The provisions in the Blanket Letter of <br />Representations are incorporated herein by reference and <br />made fully a part of this Resolution to the same extent as <br />if set forth in full herein, and if and to the extent that <br />any provisions of this Resolution are inconsistent or in <br />conflict with the provisions of the Blanket Letter of <br />Representations, the provisions in the Blanket Letter of <br />Representations shall control. <br /> <br /> 3. Title; Original Issue Date; Denominations; <br />Maturities. The Bonds shall be titled "General Obligation <br />Improvement Bonds, Series 1996B," shall be dated July 1, 1996, as <br />the date of original issue and shall be issued forthwith on or <br />after such date as fully registered bonds. The Bonds shall be <br />numbered from R-1 upward in the denomination of $5,000 each or in <br />any integral multiple thereof of a single maturity. The Bonds <br />shall mature on February 1 in the years and amounts as follows: <br /> <br />Years Amounts Years Amounts <br /> <br />1999 $125,000 2002 $75,000 <br />2000 80,000 2003 75,000 <br />2001 75,000 2004 70,000 <br /> <br />321094.2 6 <br /> <br /> <br />