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m 6r ~ <br /> <br />such Bond shall cease to accrue from and after the date so <br />specified for the redemption thereof. <br /> <br /> The Bonds shall be issued only in fully registered form <br />without coupons. One Bond representing each maturity of each <br />issue of the Bonds will be issued to and registered in the name <br />of Cede & Co., as nominee of The Depository Trust Company, New <br />York, New York ("DTC"), as registered owner of the Bonds and <br />each such Bond shall be ~mmobilized in the custody of DTC. DTC <br />will act as securities depository for the Bonds. Individual <br />purchases will be made in book-entry form only, in the principal <br />amount of $5,000 or any integral multiple thereof. Purchasers <br />will not receive physical delivery of certificates representing <br />their interest in the Bonds purchased. <br /> <br /> Principal, premium, if any, and interest payments on <br />the Bonds will be made by the Director of Finance of the City, as <br />Registrar and Paying Agent for the Bonds, to DTC or its nominee, <br />Cede & Co., as registered owner of the Bonds, which will in turn <br />remit such payments to the DTC participants for subsequent <br />disbursal to the beneficial owners of the Bonds. Transfer of <br />principal, premium, if any, and interest payments to DTC <br />participants will be the responsibility of DTC. Transfers of <br />such payments to beneficial owners of the Bonds by DTC <br />participants will be the responsibility of such participants and <br />other nominees of such beneficial owners. Transfers of ownership <br />interests in the Bonds will be accomplished by book entries made <br />by DTC and, in turn, by the DTC participants who act on behalf of <br />the indirect participants of DTC and the beneficial owners of the <br />Bonds. <br /> <br /> The City will not be responsible or liable for sending <br />transaction statements or for maintaining, supervising or <br />reviewIng records maintained by DTC, its participants or persons <br />acting through such participants or for transmitting payments to, <br />communicating with, notifying, or otherwise dealing with any <br />beneficial owner of the Bonds. So long as the Bonds are in book- <br />entry Only for~, the Director of Finance will serve as Registrar <br />and Paying Agent for the Bonds. The City reserves the right to <br />designate a successor Registrar and Paying Agent for the Bonds if <br />the Bonds at any time cease to be in book-entry only form. <br /> <br /> So long as the Bonds are in book-entry only form, any <br />notice of redemption will be given only to DTC or its nominee. <br />The City shall no~ be responsible for providing any beneficial <br />owner of the Bonds any notice of redemption. <br /> <br /> SECTION 5. Execution and Delivery of the Bonds. The <br />Mayor, the City Clerk, the Director of Finance and other <br />appropriate officers, employees and agents of the City are <br />authorized and directed to take all such action and to execute <br />such instruments as shall be deemed by them to be necessary or <br />appropriate to effect the printing, execution and issuance of the <br /> <br /> <br />