Laserfiche WebLink
<br />(ii) The City has determined not to continue to use DTC as the <br /> <br />securities depository for the Bonds; or <br /> <br />(iii) The City has determined not to continue the book-entry system of <br /> <br />transfer. <br /> <br />Upon occurrence of the event descr~bed in (i) or (ii) above, the City shall attempt to <br /> <br /> <br />locate another qualified securities depository. If the City fails to locate another qualified <br /> <br /> <br />securities depository to replace DTC or upon the occurrence of the event described in (iii) above, <br /> <br />the City shall execute and deliver Replacement Bonds substantially in the form set forth in <br /> <br />Exhibit A, B or C, as applicable, attached hereto. Principal of and interest on the Replacement <br /> <br />Bonds shall be payable as provided in this Ordinance and in the Bonds and such Replacement <br /> <br />Bonds will be transferable in accordance with the provisions of paragraphs 9 and 10 of this <br /> <br />Ordinance and the Bonds. <br /> <br />7. Appointment of Registrar and Paving Agent. The City Representative is <br /> <br /> <br />authorized and directed to appoint a Registrar and Paying Agent for the Bonds and as long as the <br /> <br /> <br />Bonds are in book entry form such Registrar and Paying Agent may be the Chief Financial <br /> <br /> <br />Officer. <br /> <br />The City Council may appoint a subsequent Registrar and/or one or more Paying Agents <br /> <br />for the Bonds by subsequent resolution and upon giving written notice to the owners of the <br /> <br />Bonds specifying the name and location of the principal office of any such Registrar or Paying <br /> <br />Agent. <br /> <br />8. Execution of Bonds. The City Manager and the Clerk of the City are authorized <br /> <br /> <br />and directed to execute the Bonds, to affix the seal of the City thereto, and to deliver the Bonds <br /> <br />-6- <br />