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April 1, 1992
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<br /> If any Bond (or any portion of the principal amount thereof in installments of
<br />$5,000) shall be called for redemption, notice of tim redemption thareo~ st~[~j~ th~ date.
<br />munber and maturity of such Bond, the date and place or places fixed for its redemption,
<br />the premium, ff any, payable upon such redemption, and if less than the entire pr/he,pal
<br />mount of such Bond is to be redeemed, that such Bond must be surrendered in exchange
<br />for the principal amount thereof to be redeemed and a new Bond or Bonds issued equalling
<br />in principal amount that portion of the principal amount thereof not to be redeemed~ shall
<br />be mailed not less than thirty (30) days prior to the date fixed for redemption by first class
<br />mail, postage prepaid, to the registered owner of such Bond at his address as it appears on
<br />the books of registry kept by the Director of Finance of the City, as the Registrar and Paying
<br />Agent for the Bonds (the "Registrar3, as of the close of business on the forty*fifth (45ffi) day
<br />ne>x preceding tie date flxed for redemption. If notice of tie redemption of any Bund shall
<br />have been given as aforesaid, and payment of the principal amount of such Bond (or the
<br />portion of the principal amount thereof to be redeemed) and of the accrued interest and
<br />premium, if any, payable upon such redemption shall have been duly made or provided for,
<br />interest on such Bond shall cease to accrue from and after the date so specified for the
<br />redemption thereof.
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<br /> 2. The principal of and premium, if any, and interest on the Bonds shaJl
<br />be payable in such coin or currency of the United States of America as at the respective
<br />dates af payment is legal tender for public and private debts. The principal of and premmm.
<br />ff any, on the Bonds shall be payable at the office of the Registrar. The interest on the
<br />Bonds shall be paid by check mailed by the Registrar to the registered owners of record of
<br />the Bonds as of the fifteenth (15th) day of the calendar month nex~ preceding each interes!
<br />payment date.
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<br /> At all times during which any Bond remains outstanding and unpaid, the
<br />Registrar shall keep, or cause to be kept, at its office books of registry for the registration,
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<br />exchange ard tr~unsfer of the.Bonds.~ Upon presentation at its office for such purpose, the
<br />Registrar, under such reasonable regulations as it may prescribe, shall register, exchange or
<br />transfer, or cause ro be registered, exchanged or transferred, on the books of registry the
<br />Bonds as herein set forth.
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<br /> The books of registry shall at all times be open for inspection by the City or
<br />any duly authotized officer thereof.
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<br /> Any Bond may be exchanged at the office of the Registrar for a like aggregate
<br />principal amount of such Bonds in other authorized principal amounts of the same interest
<br />rate and maturity.
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<br /> Any Bond may, in accordance with its terms, be transferred upon the books
<br />of registry by the person in whose name it is registered, in person or by ins duly authorized
<br />agent, upon surrender of such Bond to the Registrar for cancellation, accempan/ed by a
<br />written instrument of transfer duly executed by the registered owner in pomon or ins duly
<br />authorized agent, in form satisfactory to the Registrar.
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<br /> All transfers or exchanges of Bonds shall be made without expense to the
<br />registered owners of such Bonds, exc!:pt as otherwise herein provided, and except that ~he
<br />Registrar shall require the payment by the registered owner of a Bond requesting such
<br />transfer or exchange of any tax or other governmental charges required to be paid with
<br />respect to such transfer or exchange. All Bonds surrendered for transfer or exchange shall
<br />be cancelled.
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<br /> The Bonds shall be issued only in fully registered form without coupons. One
<br />Bond representing each maturity of each issue of the Bonds will be issued to and registered
<br />in the name of Cede & Co., as nominee of The Depository Trust Company, New York, New
<br />York (~DTC~), as registered owner of the Bonds and each such Bond shall be immobilized
<br />in the custody of DTC. DTC will act as securities depository for the Bonds. individual
<br />purchases will be made in beok-emry form only, in the principal amount of $5,000 or any
<br />integral multiple thereof. Purchasers vail not receive physical delivery of certificates
<br />representing their interest in the Bonds purchased.
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<br /> Principal, premium, if any, and interest payments on the Bonds will be made
<br />by the Director of Finance of the City, as Registrar and Paying Agent for the Bonds, to DTC
<br />or its nominee, Cede & Co., as registered owner of the Bonds. which will in turn remit such
<br />payments to the DTC participants for subsequent disbursal to the beneficial owners of the
<br />Bonds. Transfer of principal, premium, if any, and interest payments to DTC participants
<br />will be the responsibility of DTC. Transfers of such payments to beneficial owners of the
<br />Bonds by DTC participants will be the responsibility of such participants and other nominees
<br />of such beneficial owners. Transfers of ownership interests in the Bonds will be
<br />accomplished by book entries made by DTC and, in mm, by the DTC participants who ac~
<br />on behalf of the indirect participants of DTC and the beneficial owners of the Bonds.
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<br /> The City will not be responsible or liable for sending transaction staremems
<br />or for maintaining, superasing or reviewing records maintained by DTC, its participants or
<br />persons acting through such participants or for transmitting payments to. communicating
<br />with, notifying, or otherwise deallng wiffi any bene~ficial owner of the Bonds. So long as the
<br />Bonds are in book-ent~ only form, the Director of Finance of the City will serve as
<br />Regi~ar and Pa54ng Agent for the Bonds. The City reserves the right to designate a
<br />successor Registrar and Paying Agent for the Bonds if the Bonds at any time cease to be in
<br />book-entry only form.
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<br /> So long as the Bonds are in book-entry only form, any notice of redemption
<br />will be given only to DTC or its nominee. The City shall not be responsible for providing
<br />any beneficial owner of the Bonds any aotice of redemption.
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<br />305
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