Laserfiche WebLink
<br />6. Book-Entrv-Only Form. The Bonds shall be issued in book-entry-only form. The <br />Bonds shall be issued in fully-registered form and registered in the name of Cede & Co., as <br />nominee of The Depository Trust Company, New York, New York ("DTC") as registered owner <br />of the Bonds, and immobilized in the custody ofDTC. One fully-registered Bond in typewritten <br />or printed form for the principal amount of each maturity of the Bonds shall be registered to <br />Cede & Co. Beneficial owners of the Bonds shall not receive physical delivery of the Bonds. <br />Principal, premium, if any, and interest payments on the Bonds shall be made to DTC or its <br />nominee as registered owner of the Bonds on the applicable payment date. <br />Transfer of ownership interest in the Bonds shall be made by DTC and its participants <br />(the "Participants"), acting as nominees of the beneficial owners of the Bonds in accordance with <br />rules specified by DTC and its Participants. The City shall notify DTC of any notice required to <br />be given pursuant to this Ordinance or the Bonds not less than fifteen (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 Blanket Issuer Letter of Representations to DTC dated <br />December 15, 1995. <br />Replacement Bonds (the "Replacement Bonds") shall be issued directly to beneficial <br />owners of the Bonds rather than to DTC or its nominee but only in the event that: <br /> (i) DTC determines not to continue to act as securities depository for <br />the Bonds; <br /> (ii) the City has determined not to continue to use DTC as the <br />securities depository for the Bonds; or <br /> (iii) the City has determined not to continue the book-entry system of <br />transfer. <br /> -5- <br />