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DTC of Bonds in the form of certificates. In such event, the Bonds will be transferable in <br />accordance with paragraph (e) hereof. DTC may determine to discontinue providing its services <br />with respect to the Bonds at any time by giving notice to the City and the Registrar and discharging <br />its responsibilities with respect thereto under applicable law. In such event the Bonds will be <br />transferable in accordance with paragraph (e) hereof. <br />d) The execution and delivery of the Representation Letter to DTC, if not previously <br />filed with DTC, by the Mayor or City Manager is hereby authorized and directed. <br />e) In the event that any transfer or exchange of Bonds is permitted under paragraph (b) or <br />c) hereof, such transfer or exchange shall be accomplished upon receipt by the Registrar of the <br />Bonds to be transferred or exchanged and appropriate instruments of transfer to the permitted <br />transferee in accordance with the provisions of this resolution. In the event Bonds in the form of <br />certificates are issued to owners other than Cede & Co., its successor as nominee for DTC as owner <br />of all the Bonds, or another securities depository as owner of all the Bonds, the provisions of this <br />resolution shall also apply to all matters relating thereto, including, without limitation, the printing <br />of such Bonds in the form of physical certificates and the method of payment of principal of and <br />interest on such Bonds in the form of physical certificates. <br />2.09. Form of Bonds. The Bonds shall be prepared in substantially the form found at <br />Exhibit B attached hereto. <br />Section 3. USE OF PROCEEDS. <br />3.01. Construction Fund <br />There is hereby established on the official books and records of the City a General <br />Obligation Bonds, Series 2019A Construction Fund (the "Construction Fund"), and the City shall <br />continue to maintain the Construction Fund until payment of all costs and expenses incurred in <br />connection with the Tax Abatement Project financed by the Tax Abatement Bonds have been paid. <br />To the Construction Fund there shall be credited from the proceeds of the Tax Abatement Bonds <br />an amount equal to $1,207,978.35, representing the estimated cost of the Tax Abatement Project <br />1,180,000.00) and costs of issuance of the Tax Abatement Bonds ($27,978.35), and from the <br />Construction Fund there shall be paid all construction costs and expenses of the Tax Abatement <br />Project, including costs of issuance of the Tax Abatement Bonds. After payment of all <br />construction costs of the Tax Abatement Project, the Construction Fund shall be discontinued and <br />any Tax Abatement Bond proceeds remaining therein shall be credited to the Sinking Fund <br />established by Section 4 hereof, provided that under no circumstances shall amounts remain in the <br />Construction Fund after July 18, 2024, unless the City has received from bond counsel an opinion <br />that maintenance after such date is permitted by applicable laws and does not impair the exemption <br />of interest on the Bonds from federal income taxes. <br />3.02 Refunding <br />a) Proceeds of the Street Reconstruction Bonds in the amount of $604,000.00 shall be <br />deposited in the sinking fund established for the Series 2010A Bonds to be applied to their payment <br />8 <br />4837-9618-8312\5