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CC_Minutes_2011_1212
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Roseville City Council
Document Type
Council Minutes
Meeting Date
12/12/2011
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(i) The Bonds shall be initially issued and, so long as they remain in book <br /> entry form only(the "Book Entry Only Period"), shall at all times be in the form of a <br /> separate single fully registered Bond for each maturity of the Bonds; and for purposes of <br /> complying with this requirement under paragraphs 5 and 10 Authorized Denominations <br /> for any Bond shall be deemed to be limited during the Book Entry Only Period to the <br /> outstanding principal amount of that Bond. <br /> (ii) Upon initial issuance, ownership of the Bonds shall be registered in a bond <br /> register maintained by the Bond Registrar(as hereinafter defined) in the name of CEDE <br /> & CO., as the nominee (it or any nominee of the existing or a successor Depository,the <br /> "Nominee"). <br /> (iii) With respect to the Bonds neither the City nor the Bond Registrar shall <br /> have any responsibility or obligation to any broker, dealer, bank, or any other financial <br /> institution for which the Depository holds Bonds as securities depository (the <br /> "Participant") or the person for which a Participant holds an interest in the Bonds shown <br /> on the books and records of the Participant(the "Beneficial Owner"). Without limiting <br /> the immediately preceding sentence, neither the City, nor the Bond Registrar, shall have <br /> any such responsibility or obligation with respect to (A) the accuracy of the records of the <br /> Depository,the Nominee or any Participant with respect to any ownership interest in the <br /> Bonds, or(B)the delivery to any Participant, any Owner or any other person, other than <br /> the Depository, of any notice with respect to the Bonds, including any notice of <br /> redemption, or(C)the payment to any Participant, any Beneficial Owner or any other <br /> person, other than the Depository, of any amount with respect to the principal of or <br /> premium, if any, or interest on the Bonds, or (D)the consent given or other action taken <br /> by the Depository as the Registered Holder of any Bonds (the "Holder"). For purposes of <br /> securing the vote or consent of any Holder under this Resolution,the City may, however, <br /> rely upon an omnibus proxy under which the Depository assigns its consenting or voting <br /> rights to certain Participants to whose accounts the Bonds are credited on the record date <br /> identified in a listing attached to the omnibus proxy. <br /> (iv) The City and the Bond Registrar may treat as and deem the Depository to <br /> be the absolute owner of the Bonds for the purpose of payment of the principal of and <br /> premium, if any, and interest on the Bonds, for the purpose of giving notices of <br /> redemption and other matters with respect to the Bonds, for the purpose of obtaining any <br /> consent or other action to be taken by Holders for the purpose of registering transfers <br /> with respect to such Bonds, and for all purposes whatsoever. The Bond Registrar, as <br /> paying agent hereunder, shall pay all principal of and premium, if any, and interest on the <br /> Bonds only to the Holder or the Holders of the Bonds as shown on the bond register, and <br /> all such payments shall be valid and effective to fully satisfy and discharge the City's <br /> obligations with respect to the principal of and premium, if any, and interest on the Bonds <br /> to the extent of the sum or sums so paid. <br /> (v) Upon delivery by the Depository to the Bond Registrar of written notice to <br /> the effect that the Depository has determined to substitute a new Nominee in place of the <br /> existing Nominee, and subject to the transfer provisions in paragraph 10, references to the <br /> Nominee hereunder shall refer to such new Nominee. <br /> 3 <br /> 4359970v1 <br />
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