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respect to the Bond Registrar and Paying Agent, respectively, and to at all times be complied with. 7.04. Transfers Outside Book-Entry System. In the event the City, by resolution of the City Council, determines that it is in the best interests of the persons having beneficial interest in the Bonds that they be able to obtain Bond certificates, the City will notify Midwest, whereupon Midwest will notify the Participants, of the availability through Midwest of Bond certificates. In such event the City will issue, transfer and exchange Bond certificates as requested by Midwest and any other registered owners in accordance with the provisions of this Resolution. Midwest may determine to discontinue providing its services with respect to the Bonds at any time by giving notice to the City and discharging its responsibilities with respect thereto under applicable law. In such event, if no successor securities depository is appointed, the City will issue and the Bond Registrar will authenticate Bond certificates in accordance with this resolution and the provisions hereof will apply to the transfer, exchange and method of payment thereof. 7.05. Payments to Kray & Co. Notwithstanding any other provision of this resolution to the contrary, so long as any Bond is registered in the name of Kray & Co., as nominee of Midwest, all payments with respect to principal of, premium, if any, and interest on such Bond and all notices with respect to such Bond will be made and given, respectively in the manner provided in the Representation Letter. The motion for the adoption of the foregoing resolution was duly seconded by Member Mastel , and upon vote being taken thereon, the following voted in favor thereof: Maste 1, P. Johnson, Goedeke, Wi ski, and V. Johnson, and the following voted against the same: None. whereupon said resolution was declared duly passed and adopted. 113113766 "200-13 13