2007-11-14 CC Packet - Set Agenda

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Year' . - - Rate- - - Year -Rate : --.- 2010 3.550 % 2017 3.900 % 2Ql1 3.600% 2018 3.950 % - 2012 3.650 % 2019 4.000% 2013 3.700 % 2020 4.050 % 2014_ _ ~ 3.750% 2021 4.125% 2015 3.800 % 2022 4.200 % 2016 3.850 % 2023 4.250 % Net Effective Interest Rate: 4.12415 % - - S~ction2. _ Book Entry Only. System. - The Depository Trust Company, a limited purpose trust comp~y organized under the -laws of the State of New York, - or any of its - successors od~ successors to its functions hereunder (the "Depository"), will act as securities depository for the Bonds, and to this end: (a) The Bonds shall be initially issued and, so long as they remain in book entry form only (the "Book Entry Only Period"), shall at all times be in the form of a separate single fully registered Bond for each maturity of the Bonds; and for purposes of complying with this requirement under Section 6, Authorized Denominations for any Bond shall be deemed to be limited during the Book Entry Only Period to the outstanding principal amount of that Bond. (b) _ Upon initial issuance, ownership of the Bonds shall be registered in a bond register maintained by the Registrar (as hereinafter defined) in the name of Cede & Co., as the nominee (it or any nominee of the existing or a successor Depository, the "Nominee"). (c) With respect to the Bonds, neither the City nor the Registrar shall have any responsibility or obligation to any broker, d,ealer, bank, or any other :I:i1iaticial institution for which the Depository holds Bonds as securities depository, (the "Participant") or the person for which - a Participant holds an interest in the Bonds shown on the books - and records of the Participant (the "Beneficial Owner"). Without limiting the immediately preceding sentence, neither the City, nor the Registrar, shall have any such responsibility or obligation with respect to (A) the accuracy of the records of the Depository, the Nominee or any Participant with respect to any ownership interest in the Bonds, or (B) the delivery to any Participant, any Owner or any other person, other than the Depository, of any notice with respect to the Bonds, including any notice of redemption, or (C) the payment to any Participant, any Beneficial Owner or any other- person, other than the Depository, of any amount with respect to the principal of, premium, if any, or interest on the aonds,-or (D) th~ consent given or other action taken by the Depository as the Registered Holder of any Bonds (the "Holder"). For purposes of securing the vote or consent of any Holder under this Resolution, the City may, however, rely upon an omnibUs proxy under which th.e Depository- assigns its. consenting or. voting rights to certain i>amcipants to whose accounts the Bonds are credited on the record date identified in a listing attached to the omnibus proxy. 3