RES 02047 - Laserfiche WebLink

Section 2. I I. Book Entrv Svstem. (a) Original Deliverv, The Bonds shall be initially delivered in the form of a separate single fully registered Bond (which may be typewritten) for each maturity. Upon initial delivery. the ownership of each such Bond shall be registered on the Bond Register kept by the Trustee in the name of the Nominee. Except as provided in subsection (c). the mmership of all of the Outstanding Bonds shall be registered in the name ofthe Nominee. With respect to Bonds the o",nership of which shall be registered in the name of the Nominee. the City and the Trustee shall have no responsibility or obligation to any Depository System Participant or to any person on behalf of which the City holds an interest in the Bonds. Without limiting the generality of the immediately preceding sentence. the City and the Trustee shall have no responsibility or obligation with respect to (i) the accuracy of the records of the Depository, the Nominee or any Depository System Participant with respect to any ownership interest in the Bonds. (ii) the delivery to any Depository System Participant or any other person. other than a Bond O",ner as shown in the Bond Register. or any notice with respect to the Bonds. including any notice of redemption. (iii) the selection by the Depository of the beneficial interests in the Bonds to be redeemed in the event the City elects to redeem the Bond in part. (iv) the payment to any Depository System Participant or any other person. other than a Bond Owner as shown in the Bond Register. of any amount with respect to principal. premium. if any. or interest on the Bonds. or (V) any consent given or other action taken by the Depository as O",ner of the Bonds. The City and the Trustee may treat and consider the person in whose name each Bond is registered as the absolute owner of such Bonds for the purpose of payment of principal of. premium. if any. and interest on such Bonds for the purpose of giving notices of redemption and other matters with respect to such Bonds. for the purpose of registering transfers of ownership of such Bonds. and for all other purposes whatsoever. The Trustee shall pay the principal of and the interest and premium. if any. on the Bonds only to the respective O"'ners or their respective attorneys duly authorized in wTiting. and all such payments shall be valid and effective to fully satisfy and discharge all obligations with respect to payment of principal of and interest and premium. if any, on the Bonds to the extent of the surn or surns so paid, No person other than an Owner shall receive a Bond evidencing the obligation of the City to make payments of principal. interest and premium. if any. pursuant to this Indenture. Upon delivery by the Depository to the Nominee of written notice to the effect that the Depository has determined to substitute a new Norninee in its place. and subject to the provisions herein with respect to Record Dates. such new nominee shall be corne the Nominee hereunder for all purposes: and upon receipt of such a notice of the City shall promptly. but in no event later than two (2) Business Days after receipt thereof. deliver a copy of the same to the Trustee. (b) Representation Letter. In order to qualify the Bonds for the Depository's book- entry system. the City shall execute and deliver to such Depository a letter (the "Letter of Representations") representing such matters as shall be necessary to so quality the Bonds. The execution and delivery of such letter shall not in any way limit the provisions of subsection (a) above or in any other way impose upon the City or the Trustee any obligation whatsoever with respect to persons having interests in the Bonds other than the Bond Owners. In addition to the Pleasanton Cross Town Indenture (2).DOC -15-