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If any Bond of either series (or any portion of the
<br />principal amount thereof in installments of $5,000.00) shall b~
<br />called for redemption,v notice of the redemption thereof,
<br />specifying the date, number and maturity of such Bond, the date
<br />and place or-places fixed for its redemption, the premium, if
<br />any, payable upon such redemption, and if less than the entire
<br />principal amount of such Bond is to be redeemed, that such Bond
<br />must be surrendered in exchange for the principal amount
<br />thereof to be redeemed and the issuance of a new Bond or Bonds
<br />of such series issued equaling in principal amount that portion
<br />of the principal amount thereof not to be redeemed, shall be
<br />mailed not less than thirty (30) days prior to the date fixed
<br />for redemption, by first class mail, postage prepaid, to the
<br />registered owner of such Bond at his address as it appears on
<br />the books of registry kept by the Registrar for the Bonds as of
<br />the close of business on the forty,fifth (45th) day next
<br />preceding the date fixed for redemption. If notice of the
<br />redemption of any Bond (or portion thereof in installments of
<br />$5,000100) shall have been given as aforesaid, and payment of
<br />the principal amount of such Bond (or the portion of the
<br />principal amount thereof to be redeemed) and of the accrued
<br />interest and premium, if any, payable upon such redemption
<br />shall, have been duly made or provided for, interest on such
<br />Bond shall cease to accrue from and after the date so specified
<br />for the redemption thereof.
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<br /> The Bonds of each series shall be issued only in book-
<br />entry form only. One fully registered Bond representing each
<br />maturity of each series of the Bonds will be issued to and
<br />registered in the name of Cede & Co., as nominee of The
<br />Depository Trust Company, New York, New York ("DTC"), as
<br />registered owner of the Bonds and each such Bond shall be
<br />immobilized in the custody of DTC. DTC will act as securities
<br />depository for the Bonds. Individual purchases will be made in
<br />book-entry form only, in the principal amount of $5,000.00 or
<br />any integral multiple thereof. Purchasers will not receive
<br />physical delivery of certificates representing their interest
<br />in the Bonds purchased,
<br />
<br /> Principal, premium, if any, and interest payments on the
<br />Bonds will be made by the City, by wire transfer to DTC or its
<br />nominee, Cede & Co., as registered owner of the Bonds, which
<br />will in turn remit such payments to the DTC participants for
<br />subsequent disbursal to the beneficial owners of the Bonds.
<br />Transfers of principal, premium, if any, and interest payments
<br />to DTC participants will be the responsibility of DTC.
<br />Transfers of such payments to beneficial owners of the Bonds by
<br />DTC participants will be the responsibility of such
<br />participants and other nominees of such beneficial owners.
<br />Transfers of ownership interests in the Bonds will be
<br />accomplished by book entries made by DTC and, in turn, by the
<br />DTC participants who act on behalf of the indirect participants
<br />of DTC and the beneficial owners of the Bonds.
<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
<br />persons acting through such participants or for transmitting
<br />payments to, communicating with, notifying, or otherwise
<br />dealing with any beneficial owner of the Bonds. So long as the
<br />Bonds are in book-entry only form, the Deputy City Manager for
<br />Finance will serve as Registrar and Paying Agent for the Bonds.
<br />The City reserves the right to designate a successor Registrar
<br />and Paying Agent for the Bonds if the Bonds at any time cease
<br />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 not be responsible for providing any beneficial
<br />owner of the Bonds any notice of redemption.
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