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7.05, Procedural Requirements, The City will use its best efforts to comply with any
<br />federal procedural requirements which may apply in order to effectuate the designations made by
<br />this section,
<br />Section 8. Book~Entr S stem Limited Obli anon of Cit ,
<br />8.01, DTC. The Bonds will be initially issued in the form of a separate single
<br />typewritten or printed fully registered Bond far each of the maturities set forth in Section 1,03
<br />hereof. Upon initial issuance, the ownership of each Bond will be registered in the registration
<br />boolcs kept by the Registrar in the name of Cede & Co., as nominee for The Depository Trust
<br />Company, New York, New York, and its successors and assigns ~"DTC"}, Except as provided in
<br />this section, all of the outstanding Bonds will be registered in the registration books kept by tl~e
<br />Registrar in the name of Cede & Co., as nominee of DTC.
<br />8,02, Partici ants, with respect to Bonds registered in the registration books kept by
<br />the Registrar in the name of Cede & Co., as nominee of DTC, the City, the Registrar and the
<br />Paying Agent will have no responsibility or obligation to any broker dealers, banks and other
<br />financial institutions from time to time for which DTC holds Bonds as securities depository
<br />the "Participants"} or to any other person on behalf of which a Participant holds an interest in
<br />the Bonds, including but not limited to any responsibility or obligation with respect to ~i} the
<br />accuracy of the records of DTC, Cede & Co, or any Participant with respect to any ownership
<br />interest in the Bonds, iii} the delivery to any Participant or any other person bother than a
<br />registered owner of Bonds, as shown by the registration books kept by the Registrar}, of any
<br />notice with respect to the Bonds, including any notice of redemption, or viii} the payment to any
<br />Participant or any other person, other than a registered owner of Bands, of any amount with
<br />respect to principal of, premium, if any, or interest on the Bonds, The City, the Registrar and the
<br />Paying Agent may treat and consider the person in whose name each Bond is registered in the
<br />registration books kept by the Registrar as the holder and absolute owner of such Bond for the
<br />purpose of payment of principal, premium and interest with respect to such Bond, for the
<br />purpose of registering transfers with respect to such Bonds, and for all other purposes, The
<br />Paying Agent will pay all principal of, premium, if any, and interest on the Bonds only to or on
<br />the order of the respective registered owners, as shown in the registration boolcs kept by the
<br />Registrar, and all such payments will be valid and effectual to fully satisfy and discharge the
<br />City's obligations with respect to payment of principal af, premium, if any, or interest on the
<br />Bands to the extent of the sum or sums so paid. No person other than a registered owner of
<br />Bonds, as shown in the registration books kept by the Registrar, will receive a certificated Bond
<br />evidencing the obligation of this resolution. Upon delivery by DTC to the City Administrator of
<br />a written notice to tlae effect that DTC has determined to substitute a new nominee in place of
<br />Cede & Co., the words "Cede & Co,," will refer to such new nominee of DTC; and upon receipt
<br />of such a notice, the City Administrator will promptly deliver a copy of the same to the Registrar
<br />and Paying Agent.
<br />3b51~5v1 TSB EL185-1 I 18
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