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3 _ n9 Tho r i jy Mark, i _ i ed to obtain a copy of the proposed approving
<br />le o inxon of Holmes & Graven, Chartered , M*n neapoljS ., MJ=esota. which is to be
<br />complete except as to mating thereof and, if the Bonds are printed, to cause the
<br />opinion to be printed on each Bond, together with a certificate to he signed by the
<br />facsimile signature of the Manager in substantially the form set forth Mn the form of
<br />Bond, The Manager is authorized and directed to execute such certificate in the
<br />name of the City upon receipt of such opinion and to file the opinion in the City
<br />offices
<br />3.03. Book -Ent stem . The Bonds are initially issued in the form of a
<br />separate single typewritten or prated fully registered Bond for each of the
<br />maturities set forth in Section 1. 03 hereof ■ Upon inYtfal issuances the ownership of
<br />each such Bond will be registered in the registration books kept by the Bond
<br />Registrar to the name of Bray & Co., , as nominee for Midwest Securities Trust
<br />Company, Chicago, iliinois , and its successors and assigns (Midwest) . Except as
<br />provided in this Section 3 ,. all of the outstanding Bonds will be initially registered
<br />in the Registrar in the name of Bray & Co. . as
<br />the registration books kept by the Bon ■ �
<br />nominee of Nildwest .
<br />3.04. Re 'stration : Limited Obli tf oll of Cily. With respect to Bonds
<br />registered in the registration books kept by the -Bond _ Registrar in the name of Dray
<br />� the Pa Agent
<br />& Co..,, s nominee of Midwest, the City, the Bond Registrar and Paying
<br />banks and other
<br />will have no responsibility or obligation to any broker dealers :t . .
<br />financial institutions from time to time for which Midwest holds Bonds as securities
<br />depository Participants) or to any other person on behalf of which a Participant
<br />P � P bra �
<br />holds an Interest in the Bonds, (i) the accuracy of the records of Midwest,
<br />y r an Partici ant with res ect to any ownership interest in the Bonds , (H) the
<br />Co. o y P P
<br />to an Participant or an other person other than a registered owner of
<br />delivery y P 3�
<br />as shown b the registration hooks kept by the Bond Registrar, of any
<br />Bonds, y
<br />notice with respect to the Bonds, including any notice of redemption, or (m'") the
<br />nt to an Participant or an other person, other than a registered owner of
<br />payment y p y
<br />Bonds or an y amount with respect to principal of , premium, if any, or interest on
<br />the Bonds. The City, the Bond Registrar and the Paying Agent may treat an
<br />consider the person in whose name each Bond is registered in the registration books
<br />c P
<br />kept b the Bond Registrar as the holder and absolute owner of such Bond for the
<br />p y respect to such Bond
<br />purpose of payment of principal, premium and interest with
<br />for the purpose of registering transfers with respect to such Bond, and for all other
<br />The Paying Agent is to pay all principal of, premium, if any, and interest
<br />purposes, g $`'s t
<br />on the Bonds only o or on the order of the respective registered owners, as shown
<br />i � y and all such payments Will be
<br />in the regpstration books Dept by the Bond Registrar, f P y
<br />valid and effectual to full satisfy and discharge the City's obligations with respect
<br />y . Bonds to the extent
<br />to payment of principal of, premium, if any, or interest on the Bon
<br />P y han
<br />of the sum or sums so paid. No person othe r t a registered owner of Bonds, as
<br />shown in the registration books kept by the Bond Registrar, may receive a
<br />certificated Bond evidencing the obligation of the City to make payments
<br />of
<br />principal, premium, if any, or interest pursuant to this Bond Resolution. Upon
<br />delivery Midwest to the Finance Director of a written notice to the effect that
<br />� y of 'Midwest • and upon receipt of
<br />Midwest has -determined to substitute a new nominee P P
<br />such a notice the Finance Director must promptly deliver a copy of the sane to the
<br />su � d Registrar or Pa Agent is other
<br />Bond Registrar and Paying Agent, if the Bon �g g
<br />than the Finance Director.
<br />31005 . Representation Letter, The form of Representation Letter proposed to
<br />be submitted to Midwest, which is on file with the Finance Director and has been
<br />=474166
<br />200 -20 10
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