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2004.06.07 RESO 2004-0039
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2004.06.07 RESO 2004-0039
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City Council
Document Type
Resolutions
Meeting Date
6/7/2004
Meeting Type
Regular
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(vi) So long as any Bond is registered in the name of a Nominee, all payments <br />with respect to the principal of and premium, if any, and interest on such Bond and all <br />notices with respect to such Bond shall be made and given, respectively, by the Registrar <br />or City, as the case may be, to the Depository as provided in the Letter of Representations <br />to the Depository required by the Depository as a condition to its acting as book -entry <br />Depository for the Bonds (said Letter of Representations, together with any replacement <br />thereof or amendment or substitute thereto, including any standard procedures or policies <br />referenced therein or applicable thereto respecting the procedures and other matters <br />relating to the Depository's role as book -entry Depository for the Bonds, collectively <br />hereinafter referred to as the "Letter of Representations"). <br />(vii) All transfers of beneficial ownership interests in each Bond issued in <br />book -entry form shall be limited in principal amount to Authorized Denominations and <br />shall be effected by procedures by the Depository with the Participants for recording and <br />transferring the ownership of beneficial interests in such Bonds. <br />(viii) In connection with any notice or other communication to be provided to <br />the Holders pursuant to this Resolution by the City or Registrar with respect to any <br />consent or other action to be taken by Holders, the Depository shall consider the date of <br />receipt of notice requesting such consent or other action as the record date for such <br />consent or other action; provided, that the City or the Registrar may establish a special <br />record date for such consent or other action. The City or the Registrar shall, to the extent <br />possible, give the Depository notice of such special record date not less than 15 calendar <br />days in advance of such special record date to the extent possible. <br />(ix) Any successor Registrar in its written acceptance of its duties under this <br />Resolution and any paying agency registrar agreement, shall agree to take any actions <br />necessary from time to time to comply with the requirements of the Letter of <br />Representations. <br />(x) In the case of a partial prepayment of a Bond, the Holder may, in lieu of <br />surrendering the Bonds for a Certificate of a lesser denomination as provided in <br />paragraph 5, make a notation of the reduction in principal amount on the panel provided <br />on the Bond stating the amount so redeemed. <br />(c) Termination of Book -Entry Only System. Discontinuance of a particular <br />Depository's services and termination of the book -entry only system may be effected as follows: <br />(i) The Depository may determine to discontinue providing its services with <br />respect to the Bonds at any time by giving written notice to the City and discharging its <br />responsibilities with respect thereto under applicable law. The City may terminate the <br />services of the Depository with respect to the Bonds if it determines that the Depository <br />is no longer able to carry out its functions as securities depository or the continuation of <br />the system of book -entry transfers through the Depository is not in the best interests of <br />the City or the Beneficial Owners. <br />t65t9WO 4 <br />
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