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he had remained in office until delivery. Notwithstanding such execution, no Bond shall be valid or • obligatory for any purpose or entitled tv any security or benefit under this Resolution unless and until a certificate of authentication on the Bond has been duly executed by the manual signature of an authorized representative of the Registrar. Certificates of authentication on different Bonds need not be signed by the same representative. The executed certificate of authentication on each Bond shall be conclusive evidence that it has been authenticated and delivered under this Resolution. When the Bonds have been prepared, executed and authenticated, the Finance Director shall deliver them to the Purchaser upon payment of the purchase price in accordance with the contract of salt heretofore executed, and the Purchaser shall not be obligated to see to the application of the purchase price. 2A9. l~pok-Entry System: Limited Obligation of Issuer. (a) The Bonds wiII be initially issued in the form of a separate single typewritten or printed fully registered Bond for each of the maturities set forth in Section 2.OZ hereof: Upon initial issuance, the ownership of each such Bond will be registered in the registration books kept by the Registrar in the name of Cede & Co., as nominee for 'Ihe Depository Trust Company, New York, New Yorlc, and its successors and assigns (the "Depository~~. Except as provided in this section, all of the outstanding Bonds will be registered in the registration books kept by the Registrar in the name of Cede & Co., as nominee of the Depository. (b) With respect to Bonds registered is the registration books kept by the Registrar in the name of Cede & Co., as nominee of the Depository, the Issuer, the Registrar • and the Paying Agent will have no responsibility or obligation to any broker dealers, banks ository holds Bonds as and other financial institutions from time to time for which the De p securities depository (the "Participants") or to any other person on behalf of which a Participant holds an interest in the Bonds (the "Beneficial Owners', including but not limited to any responsrbility or obligation with respect to (i) the accuracy of the records of the Depository, Cede & Co., or any Participant with respect to any ownership interest in the Bonds, {ii) the delivery to any Participant or any otb~r person other than a registered owner of Bonds, as shown by the registration books kept by the Registrar, of any notice with respect to the Bonds, including any notice of redemption, or (iii) the payment to any Participant or any Beneficial Owner, other than a registered owner of Bonds, or any amount - with respect to principal ofy premium, if any, or interest on the Bonds. The Yssuer, the Registrar atxi the Paying Agent may treat and consider the person in whose name each Bond is registered in the registration books kept by the Registrar as the holder and absolute owner of such Bond fvr the purpose of payment of principal, premium and interest with respect to such Bond, for the purpose of registering transfers with respect to such Bonds, and for all other purposes. The Paying Agent will pay all principal oil premium, if any, and interest on the Bonds only to or on the order of the respective registered owners, as shown in the regisstrzation books kept by the Bond Registrar, and all such payments will be valid and effectual bo fully satisfy and discharge the Issuer's obligations with respect to payment of principal of; premium, if any, or interest on the Bonds to the extent of the sum or sums so paid. No person other than a registered owner of Bonds, as shown in the registration books kept by the Registrar, will receive a certificated Bond evidencing the obligation of this resolution. Upon delivery by the Depository to the City Adaninistrator of a written notice to • ~~.o~ 6