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RES 2024025
City of Pleasanton
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RES 2024025
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5/10/2024 4:29:09 PM
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CITY CLERK
CITY CLERK - TYPE
RESOLUTIONS
DOCUMENT DATE
5/7/2024
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<br />F-1 <br />APPENDIX F <br /> <br />DTC AND THE BOOK-ENTRY ONLY SYSTEM <br /> <br />The following description of the Depository Trust Company (“DTC”), the procedures and <br />record keeping with respect to beneficial ownership interests in the Bonds, payment of principal, <br />interest and other payments on the Bonds to DTC Participants or Beneficial Owners, <br />confirmation and transfer of beneficial ownership interest in the Bonds and other related <br />transactions by and between DTC, the DTC Participants and the Beneficial Owners is based <br />solely on information provided by DTC. Accordingly, no representations can be made <br />concerning these matters and neither the DTC Participants nor the Beneficial Owners should <br />rely on the foregoing information with respect to such matters, but should instead confirm the <br />same with DTC or the DTC Participants, as the case may be, and neither the City nor the <br />Underwriter take responsibility for the accuracy thereof. <br /> <br />Neither the issuer of the Bonds (the “Issuer”) nor the trustee, fiscal agent or paying agent <br />appointed with respect to the Bonds (the “Agent”) take any responsibility for the information <br />contained in this Appendix. <br /> <br />No assurances can be given that DTC, DTC Participants or Indirect Participants will <br />distribute to the Beneficial Owners (a) payments of interest, principal or premium, if any, with <br />respect to the Bonds, (b) certificates representing ownership interest in or other confirmation or <br />ownership interest in the Bonds, or (c) redemption or other notices sent to DTC or Cede & Co., <br />its nominee, as the registered owner of the Bonds, or that they will so do on a timely basis, or <br />that DTC, DTC Participants or DTC Indirect Participants will act in the manner described in this <br />Appendix. The current “Rules” applicable to DTC are on file with the Securities and Exchange <br />Commission and the current “Procedures” of DTC to be followed in dealing with DTC <br />Participants are on file with DTC. <br /> <br />1. The Depository Trust Company (“DTC”), New York, NY, will act as securities <br />depository for the Bonds (hereinafter, the “Securities”). The Securities will be issued as fully- <br />registered securities registered in the name of Cede & Co. (DTC’s partnership nominee) or such <br />other name as may be requested by an authorized representative of DTC. One fully-registered <br />Security certificate will be issued for each issue of the Securities, each in the aggregate <br />principal amount of such issue, and will be deposited with DTC. If, however, the aggregate <br />principal amount of any issue exceeds $500 million, one certificate will be issued with respect to <br />each $500 million of principal amount, and an additional certificate will be issued with respect to <br />any remaining principal amount of such issue. <br /> <br />2. DTC, the world’s largest securities depository, is a limited-purpose trust company <br />organized under the New York Banking Law, a “banking organization” within the meaning of the <br />New York Banking Law, a member of the Federal Reserve System, a “clearing corporation” <br />within the meaning of the New York Uniform Commercial Code, and a “clearing agency” <br />registered pursuant to the provisions of Section 17A of the Securities Exchange Act of 1934. <br />DTC holds and provides asset servicing for over 3.5 million issues of U.S. and non-U.S. equity <br />issues, corporate and municipal debt issues, and money market instruments (from over 100 <br />countries) that DTC’s participants (“Direct Participants”) deposit with DTC. DTC also facilitates <br />the post-trade settlement among Direct Participants of sales and other securities transactions in <br />deposited securities, through electronic computerized book-entry transfers and pledges <br />between Direct Participants’ accounts. This eliminates the need for physical movement of <br />securities certificates. Direct Participants include both U.S. and non-U.S. securities brokers and
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