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a notation of the reduction in principal amount on the panel provided on the Bond stating the amount so redeemed. Section 3. Termination of Book-Entry Onlv Svstem. Discontinuance of a particular Depository's services and termination of the book-entry only system may be effected as follows: (a) The Depository may determine to discontinue providing its services with respect to the Bonds at any time by giving written notice to the City and discharging its responsibilities with respect thereto under applicable law. The City may terminate the services of the Depository with respect to the Bonds if it determines that the Depository is no longer able to carry out its functions as securities depository or the continuation of the system of book-entry transfers through the Depository is not in the best interests of the City or the Beneficial Owners. (b) Upon termination of the services of the Depository as provided in the preceding paragraph, and if no substitute securities depository willing to undertake the functions of the depository hereunder can be found which, in the opinion of the City, is willing and able to assume such functions upon reasonable or customary terms, or if the City determines that it is in the best interests of the City or the Beneficial Owners of the Bonds that the Beneficial Owners be able to obtain certificates for the Bonds, the Bonds shall no longer be registered as being registered in the bond register in the name of the Nominee, but may be registered in whatever name or names the Holder of the Bonds shall designate at that time, in accordance with Section 6 hereof. To the extent that the Beneficial Owners are designated as the transferee by the Holders, in accordance with Section 6 hereof, the Bonds will be delivered to the Beneficial Owners. (c) Nothing in this Section 3 shall limit or restrict the provisions of Section 6 hereof. The Clerk-Treasurer is authorized and directed to execute in the name of the City the Letter of Representations in substantially the form on file in the office of the City. In the event of the disability or the resignation or other absence of the Clerk-Treasurer of the City, such other officer of the City who may act in his or her behalf shall without further act or authorization of the City do all things and execute all instruments and documents required to be done or to be executed by such absent or disabled official. The provisions in the Letter of Representations are incorporated herein by reference and made a part of this Resolution, and if and to the extent any such provisions are inconsistent with the other provisions of this Resolution, the provisions in the Letter of Representations shall control. Section 4. RedemDtion. 4.01. At the option of the City, Bonds maturing on or after February 1,2016, shall each be subject to call and prior payment on February 1, 2015, or on any date thereafter at a price equal to the principal amount thereof to be redeemed plus interest accrued to the date of redemption. Redemption may be in whole or in part of the Bonds subject to prepayment. If redemption is in part, the maturity and the principal amounts within each maturity to be redeemed shall be determined by the City and if only part of the Bonds having a common maturity date are called for prepayment, the specific Bonds to be prepaid shall be chosen by lot by the Registrar, as herein defined. 5 13