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3 <br /> 2020 1.625% 2025 2.500% <br /> 2021 2.000% 2027 2.750% <br /> 2022 2.000% 2029 3.000% <br /> 2023 2.125% <br /> Section 2. Book Entry Only System. The Depository Trust Company, a limited <br /> purpose trust company organized under the laws of the State of New York, or any of its <br /> successors or its successors to its functions hereunder (the "Depository "), will act as securities <br /> depository for the Bonds, and to this end: <br /> (a) The Bonds shall be initially issued and, so long as they remain in book entry form <br /> only (the "Book Entry Only Period "), shall at all times be in the form of a separate single fully <br /> registered Bond for each maturity of the Bonds; and for purposes of complying with this <br /> requirement under Section 6, Authorized Denominations for any Bond shall be deemed to be <br /> limited during the Book Entry Only Period to the outstanding principal amount of that Bond. <br /> (b) Upon initial issuance, ownership of the Bonds shall be registered in a bond <br /> register maintained by the Registrar (as hereinafter defined) in the name of Cede & Co., as the <br /> nominee (it or any nominee of the existing or a successor Depository, the "Nominee "). <br /> (c) With respect to the Bonds, neither the City nor the Registrar shall have any <br /> responsibility or obligation to any broker, dealer, bank, or any other financial institution for <br /> which the Depository holds Bonds as securities depository, (the "Participant ") or the person for <br /> which a Participant holds an interest in the Bonds shown on the books and records of the <br /> Participant (the `Beneficial Owner "). Without limiting the immediately preceding sentence, <br /> neither the City, nor the Registrar, shall have any such responsibility or obligation with respect to <br /> (A) the accuracy of the records of the Depository, the Nominee or any Participant with respect to <br /> any ownership interest in the Bonds, or (B) the delivery to any Participant, any Owner or any <br /> other person, other than the Depository, of any notice with respect to the Bonds, including any <br /> notice of redemption, or (C) the payment to any Participant, any Beneficial Owner or any other <br /> person, other than the Depository, of any amount with respect to the principal of, premium, if <br /> any, or interest on the Bonds, or (D) the consent given or other action taken by the Depository as <br /> the Registered Holder of any Bonds (the "Holder "). For purposes of securing the vote or consent <br /> of any Holder under this Resolution, the City may, however, rely upon an omnibus proxy under <br /> which the Depository assigns its consenting or voting rights to certain Participants to whose <br /> accounts the Bonds are credited on the record date identified in a listing attached to the omnibus <br /> proxy. <br /> (d) The City and the Registrar may treat as and deem the Depository to be the <br /> absolute owner of the Bonds for the purpose of payment of the principal of and premium, if any, <br /> and interest on the Bonds, for the purpose of giving notices of redemption and other matters with <br /> respect to the Bonds, for the purpose of obtaining any consent or other action to be taken by <br /> Holders for the purpose of registering transfers with respect to such Bonds, and for all purposes <br /> whatsoever. The Registrar, as paying agent hereunder, shall pay all principal of and premium, if <br /> any, and interest on the Bonds only to or upon the Holder or the Holders of the Bonds as shown <br /> 3 <br />