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Attorney may approve, which approval will be conclusively evidenced by the execution thereof . Any paying Agent or Bond Registrar subsequently appointed by the City with respect to the Bonds must agree to tale all action necessary for all representations of the City in the Representation Letter with respect to the Bond registrar and Paying Agent, respectively, to at all times be complied with 3. 06. Transfers Outside BookwEntry ystem, In the event the City, by resolution of the City Council, determines that it is in the hest interests of the arsons haven beneffcial interest in the Bonds that they be able to obtain Bond persons i � `west must notify the certificates, the City must notify Midwest, whereupon lid y participants , of the availability through Midwest of Bold certificates . In such event the City will issue, transfer and exchange Bond certificates as requested by Midwest and an other registered owners in accordance with the provisions of this resolution y + 't sect to the Miidwest may determine to discontinue providing its services with respect Bonds at an y time by giving notice to the City and discharging its responsibilities with w Registrar respect thereto under applicable law. In such event, if no successor securities p the Bond Re authenticate depository is appointed, the arty win and � Bond certificates in accordance with this Bond Resolution and the provisions hereof will apply l to the transfer, exchange and method of payment thereof 0 3.o 0T. pa ants to Kray & Co. Notwithstanding any other provision of this -- Resolution to the contrary, so long as any Bond is ragistered in the name of Bray & � al of premium, Oo . , as nominee of Midwest, all payments with respect to principal , an and interest 'on such Bond and all notices with respect to such Bond will be y' F rovided in the Representation Letter . made and given, respectively, in the manner p p Section 4. PAYPRent i Security.: pled s and Covenants 4.01. (a) The Bonds are payable from the General obligation Refundin g Improvement rovement Bonds, Bevies 1993 Debt Service Fund (Debt Service Fund ) y hereb created, and the proceeds of ad valorem taxes hereinafter levied Taxes and special assessments (Assessments) levied for improvements (Improvements) financed by the Refunded Bonds as hereinafter p defined are pledged to the Debt Service Fund . (b) The debt service fund, if any, heretofore established for the Refunded Bonds as defined in the resolution providing for the issuance and sale of the Bonds, is terminated, and all monies therein are hereby transferred to the Debt Service Fund herein created . If any payment of principal al or interest on the Bonds becomes due when there is not sufficient , money in the Debt Service Fund to pay the sa me the Finance Director is to principal such rind al or interest from the general fund of the City, and the ]may general fund will be reimbursed for such advances out of th e p roceeds of the Taxes and Assessments when collected. Where is her�eb appropriated to the Debt Service Fund all capii (c) talized interest financed from Bond proceeds, if any, any amount over th e `mum purchase mice of the Bonds paid by the purchaser and all accrued � p F y interest paid b the Purchaser upon closing and delivery of the Bonds . 4,02 It is determined that at least 0% of the cost of the Improvements has been s eciall assessed a + st benefitted properties -. For the purpose of paying b p y � rind o al f and interest on the Bonds, there is or has been hereby levied a irre the principal direct annual ealable ad valorem tax (Taxes) upon all of the taxable property F =417 "7 00 -10 11