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2.08. Securities Dgpositor. (a) For purposes of this section the following terms shall <br />have the following meanings: <br />'Seneficial Ownee' shall mean, whenever used w1th respect to a Bond, the person in <br />whose name Such Bond, is recorded as the beneficial owner of such Bond a <br />by a Prticipant on <br />records of such Participant, or such person,'s subrogee. I <br />"Cede & Co." shall mean Cede & Co., the nominee of DTC, and any successor nominee <br />of DTC, with respect to the Bonds. <br />"DTC'," shall mean The Depository Trust Company of New York, New York, <br />"Participant" shall mean any broker -dealer, bank or other financial institution for which <br />DTC holds bonds as securities depository. <br />"Representation Letter" shall mean the Representation Letter pursuant to which the City <br />agrees to comply with DTC's Operational Arrangements. <br />I <br />