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-4- <br /> <br /> At all times during which any Bond remains outstanding and unpaid, the <br />Registrar shall keep, or cause to be kept, m its principal office books of registry for the <br />registration, exchange and transfer of the Bonds. Upon presentation at/ts office for such <br />purpose, the Registrar, under such reasonable regulations as it may prescribe, shall register, <br />exchange or transfer, or cause to be registered, exchanged or transferred, on the books of <br />regnstry the Bonds as herein set forth. <br /> <br /> The books of registry shall at all times be open for inspection by the City or <br />any duly authorized officer thereof. <br /> <br /> Any Bond may be exchanged at the office of the Registrar for a like aggregate <br />principal amount of such Bonds in other authorized principal amounts of the same interest <br />rate and maturity. <br /> <br /> Any Bond may, in accordance with its terms, be transferred upon the books <br />of registry by the person in whose name it is registered, in person'or by his duly authorized <br />agent, upon surrender of such Bond to the Registrar for cancellation, accompanied by a <br />written instrument of transfer duly executed by the registered owner in person or his duly <br />authorized agent, in form satisfactory to the Registrar. <br /> <br /> All transfers or exchanges of Bonds shall be made without expense to the <br />registered owners of such Bonds, except as otherw/se herein prov/ded, and except that the <br />Registrar shall require the payment by the registered owner of a Bond requesting such <br />transfer or exchange of any tax or other governmental charges required to be paid with <br />respect to such transfer or exchange. All Bonds surrendered for transfer or exchange shall <br />be cancelled. <br /> <br /> The Bonds shall be issued only in fully registered form without coupons. One <br />Bond representing each maturity of each issue of the Bonds will be issued m and registered <br />in the name of Cede & Co., as nominee of The IJepository Trust Company, New York, New <br />York ("DTC"), as registered owner of the Bonds and each such Bond shall be immobilized <br />in the custody of DTC. DTC will act as securities depository for the Bonds. Individual <br />purchases will be made in book-entry form only, in the principal amount of $5,000 or any <br />integral multiple thereof. Purchasers will not receive physical delivery of certificates <br />representing their interest in the Bonds purchased. <br /> <br /> Principal, premium, if any, and interest payments on the Bonds will be made <br />by the Director of Finance of the City, as Registrar and Paying Agent for the Bonds, to DTC <br />or its nominee, Cede & Co., as registered owner of the Bonds, which will in turn rent/t such <br />payments to the DTC participants for subsequent disbursal to the beneficial owners of the <br />Bonds. Transfer of principal, premium, if any, and interest payments to DTC participants <br />will be the responsibility of DTC. Transfers of such payments to beneficial owners of the <br />Bonds by DTC participants will be the responsibility of such participants and other nominees <br />of such beneficial owners. Transfers of ownership interests in the Bonds will be <br /> <br /> <br />