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7.0q. Qualifed Tax -Exempt Qbliq}ations. in. order to qualify the. Bonds as "qualified tax- exempt obligations within the meaning of Section 265(b)(3) of the. Code, the City.makes lhce following factual statements and representations: {a) the Bonds are not "private activity bonds" as defined" in .Section't.41. of the Code; (b) the City :hereby designates. the Bonds as "qualified tax-ekethpt obligations for purposes-d-Seciiun.265(b)(3) of the Code;. (c) the "reasonably anticipated amount of tax-exempt obligations (other than private activity bonds which are not qualified.501(c)(3) bonds) which will be issued by the --City (and all subordinate: entities of the City) during calendar year 20I-5. will not exceed $1 O,000,QOQ; .and .(d) not more.than $10,000;0.00 of obligations issued by the City. during.calendar year 2015 have been designated.for.purposes of Section 265(b)(3) of the Code. 7:05. Proced 1 R uire ents. The City will use its.best efforts to comply with any federal procedural.requirements which. may. apply .in order to ef-ectuate.the designations tnade-by this section. Section 8. Book -Entry System-, Limited Obligation of City.. 8.01. The De osit T m Trust C an . The Bonds will be initially issued in dhe form. of a separate single typewritten or printed fully registered Bond for each of the -maturities set forth -in: Section 1.04 hereof.. Upon #Iitial issuance, .the ownership of each such. Bond will be registered in. the registration books kept by the Registrar in the name of Cede & Co., as nominee for The.Depository Trust Company.; New York, New York, and its .successors and assigns C"DTC"). Except as provided in this section, all of the outstanding; Bonds will be registered in the registration books kept by the.Registrar in the name of Cede & Co., as nominee of DTC. 8.0.2. Participants. With respect tq Bonds registered in the registration: books kept by, the Registrar in the. name of Cede & Co., as nominee of. DTC; the City, the Registrar and the Paying. Agent will have no. responsibility or obligation to any broker dealers, banks. and other.financial institutions from time to :time. for which DTC holds Bonds as securities depository (the "Participants") or to any :other person on behalf.of which a Participant holds an interest in the Bonds, including lint not limited to any responsibility.. or -obligation with respect to (i) the accuracy of-therecords of DTC,. Cede.. & Co. or any Participant with respect to any ownership" interest in the Bonds, (i) the*delivety to any Participant or any other person (other than a registered owner of Bonds, as shown by the registration books kept by the Registrar), of any notice with respect to the Bonds, including atiy notice of redemption; or (iii) the payment to any Participant or any other. person, other than a registered oywper o€ Bonds, of any amount with respect to principal of, premium, if -any, -or-interest on the Bonds. The City, .the Registrar and the Paying Agent -may treat and consider the person in whose name each Bond is registered in the registration books kept by the Registrar. as the holder and absolute owner "of such Bond for the purpose. of payment of principal, premium .and. interest -with respect to .such. Bond, for*the.purpose of registering transfers. with respectto such Bonds, and for all other purposes. The Paying: Agent will pay all principal of, premium, if any; and interest on the Bonds only to or on the order of the respective registered owners, as drown in the registration books kept by the Registrar, and all such payments will be valid and effectual to fully satisfy and discharge the City's obligations with respect to payment of principal of, premium, if any, or interest on the Bonds to.ihe.extent of the sum or sums so paid. No person other than a registered owner of Bonds, as shown in the registration books kept by the Registrar,: will receive a .certificated Pon d.evidencing the obligation of this resolution. Upon delivery by DTC to the City Administrator -Cleric of a written. notice :to the effect that DTC has determined to substitute a -new nominee in .place of Cede & Co., the words 461255vGAF GE190-12. 1.1