RES 02047 - Laserfiche WebLink

execution and delivery of such letter. the City may take any other actions. not inconsistent with this Indenture. to qualifY the Bonds for the Depository's book-entry program, (c) Transfers Outside Book-Entrv Svstem. In the event that either (i) the Depository determines not to continue to act as Depository for the Bonds. or (ii) the City determines to terminate the Depository as such. then the City shall thereupon discontinue the book-entry system with such Depository. In such event. the Depository shall cooperate with the City and the Trustee in the issuance of replacement Bonds by providing the Trustee with a list showing the interests of the Depository System Participants in the Bonds. and by surrendering the Bonds. registered in the name of the Nominee. to the Trustee on or before the date such replacement Bonds are to be issued. The Depository. by accepting delivery of the Bonds. agrees in the Letter of Representations to be bound by the provisions of this subsection (c). If. prior to the termination of the Depository acting as such. the City fails to identify another qualified securities depository to replace the Depository. then the Bonds shall no longer be required to be registered in the Bond Register in the name of the Nominee. but shall be registered in whatever name or names the Owners transferring or exchanging Bonds shall designate. in accordance with the provisions of this Section 2.1 I hereof. In the event the City determines that it is in the best interests of the beneficial owners of the Bonds that they be able to obtain Bonds. the City may notify the Depository System Participants of the availability of such Bond through the Depository. In such event. the Trustee will, at the expense of the City, authenticate. transfer and exchange Bonds as required by the Depository and others in appropriate amounts: and whenever the Depository so requests. the City shall cooperate with the Depository in taking appropriate action (i) to make available one or more separate Bonds evidencing the Bonds to any Depository System Participant having Bonds credited to its account with the Depository. or (ii) to arrange for another qualified securities depository to maintain custody ofa single Bond evidencing such Bonds. all at the City's expense. (d) Payments to the Norninee. Notwithstanding any other provision of the Indenture to the contrary. so long as any Bond is registered in the name of the Nominee. all payments with respect to principal of and interest and premium. if any. on such Bonds and all notices with respect to such Bonds shall be made and given. respectively. as provided in the Letter of Representations or as otherwise instructed in wTiting by the Depository. Section 2.12. Additional Contracts and Pari tv Bonds, (i) The City may at any tirne issue any Parity Bonds the payments under and pursuant to which. or execute any Contract the payrnents under and pursuant to which. as the case may be. are payable from the Net Revenues on a parity with the payrnent by the City of Debt Service Payrnents as provided herein: provided: (a) The audited Net Revenues for any period of twelve (12) consecutive calendar months within the twenty-four (24) calendar rnonth period next preceding the date of the adoption by the City Council of the City of the resolution authorizing the issuance of such Parity Bonds or the execution of such Contract. as the case may be. as evidence by both a calculation prepared by the City and a special report -16- Pleasanton Cross Town Indenture (2).DOC