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rules specified by DTC and its Participants. The City shall notify DTC of any notice required to <br />be given pursuant to this Resolution or the Bonds not less than fif[een (15) calendar days prior to <br />the date upon which such notice is required to be given, The City shall also comply with the <br />agreements set forth in the City's Letter of Representations to DTC. <br /> <br /> Replacement Bonds (the "Replacement Bonds") shall be issued directly to beneficial <br />owners of the Bonds rather than to DTC or its nominee bnt only in the event that: <br /> <br /> (i) DTC determines not to continue to act as securities depository for <br /> <br /> the Bonds; or <br /> <br /> (ii) The City has determined not to continue to use DTC as the <br />securities depository for the Bonds; or <br /> <br />transfer. <br /> <br />(iii) The City has determined not to continue the book-entry system of <br /> <br /> Upon occurrence of the event described in (i) or (ii) above, the City shall attempt to <br />locate another qualified securities depository. If the City fails to locate another qualified <br />securities depository to replace DTC or upon the occurrence of the event described in (iii) above, <br />the City shall execute and deliver Replacement Bonds substaritially in the form set forth in <br />Exhibit A attached hereto. Principal of and interest on the Replacement Bonds shall be payable <br />as provided in this Resolution and in the Bonds and such Replacement Bonds will be transferable <br />in accordance with the provisions of paragraphs 9 and 10 of this Resolution and the Bonds. <br /> <br /> 6. Appointment of Bond Registrar and Paying Agem The Chief Financial Officer is <br /> <br />authorized and directed to appoint a Bond Registrar and Paying Agent for the Bonds and as long <br /> <br />-4- <br /> <br /> <br />