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1998 Resolutions
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<br />DTC; and upon receipt of such a notice, the City Administrator will promptly deliver a copy of <br />the same to the Bond Registrar and Paying Agent. <br /> <br />7.03. Representation Letter. The City has heretofore executed and delivered to DTC a <br />Blanket Issuer Letter of Representations (Representation Letter) which shall govern payment of <br />principal of, premium, if any, and interest on the Bonds and notices with respect to the Bonds. <br />Any Paying Agent or Bond Registrar subsequently appointed by the City with respect to the <br />Bonds will agree to take all action necessary for all representations of the City in the <br />Representation letter with respect to the Bond Registrar and Paying Agent, respectively, to be <br />complied with at all times. <br /> <br />7.04. Transfers Outside Book-Entry System. In the event the City, by resolution of the <br />City Council, determines that it is in the best interests of the persons having beneficial interests <br />in the Bonds that they be able to obtain Bond certificate, the City will notify DTC, whereupon <br />DTC will notify the Participants, of the availability through DTC of Bond certificates. In such <br />event the City will issue, transfer and exchange Bond certificates as requested by DTC and any <br />other registered owner in accordance with the provisions of this Resolution. DTC may determine <br />to discontinue providing its services with respect to the Bonds at any time by giving notice to the <br />City and discharging its responsibilities with respect thereto under applicable law. In such event, <br />if no successor securities depository is appointed, the City will issue and the Bond Registrar will <br />authenticate Bond certificates in accordance with this resolution and the provisions hereof will <br />apply to the transfer, exchange and method of payment thereof. <br /> <br />7.05. Payments to Cede & Co. Notwithstanding any other provision of this Resolution <br />to the contrary, so long as a Bond is registered in the name of Cede & Co., asnominee of DTC, <br />payments with respect to principal of, premium, if any, and interest on the Bond and all notices <br />with respect to the Bond will be made and given, respectively in the manner provided in DTC's <br />Operational Arrangements, as set forth in the Representation Letter. <br /> <br />Section 8. Continuin~ Disclosure. <br /> <br />8.01. Participating underwriters need not comply with the continuing disclosure <br />requirements of Rule 15c2-12 promulgated by the Securities and Exchange Commission under <br />the Securities Exchange Act of 1934 (the "Rule"), because the offering is in a principal amount <br />less than $1,000,000. Consequently, the City will not enter into any undertaking to provide <br />continuing disclosure of any kind with respect to the Bonds. <br /> <br />DJK144119 <br />CE1SS-13 <br />
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