Ord 2005-098 - Laserfiche WebLink

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I I I attorneys duly authorized in writing, and all such payments shall be valid and effective to fully satisfy and discharge the City's obligations with respect to payment of, premium, if any, and interest on the CertIficates to the extent of the sum or sums so paid. No person other than an Owner, as shown m the regIster, shall receive a Certificate evidencing the obligation of the City to make payments of amounts due pursuant to this Ordinance. Upon delivery by DTC to the Paying Agent/Registrar of written notice to the effect that DTC has determined to substitute a new nominee in place of Cede & Co., and subject to the provisions in tills Ordinance with respect to interest checks or drafts being mailed to the registered Owner at the close of business on the Record Date, the word "Cede & Co " in thIS Ordinance shall refer to such new nominee of DTC. (c) The execution and delivery of the Representation Letter is hereby ratified and confirmed, and the provIsions thereof shall be fully applicable to the Certificates. Section 3 10 Successor Securities Depository; Transfer OutSIde Book-Entry Only System. In the event that the City or the Paymg Agent/Registrar determines that DTC is incapable of discharging its responsibilities described herein and in the Representation Letter, and that it is in the best interest of the beneficial owners of the Certificates that they be able to obtain certificated Certificates, or in the event DTC discontinues the services described herem, the City or the Paying Agent/RegIstrar shall (i) appoint a successor securities depository, qualified to act as such under Section 17(a) of the Securities and Exchange Act of 1934, as amended, notify DTC and DTC Participants, as identified by DTC, of the appointment of such successor securities depository and transfer one or more separate CertIficates to such successor secunties depository or (ii) notify DTC and DTC PartIcipants, as identified by DTC, of the availability through DTC of Certificates and transfer one or more separate CertIficates to DTC Participants having Certificates credited to their DTC accounts, as identified by DTC In such event, the Certificates shall no longer be restncted to being registered in the Register in the name of Cede & Co" as nominee of DTC, but may be registered m the name ofthe successor secuntIes deposItory, or its nommee, or m whatever name or names Owners transferrIng or exchanging Certificates shall designate, in accordance with the provisions of this Ordinance Section 3 11 Payments to Cede & Co NotwIthstandmg any other proVIsion of this Ordmance to the contrary, so long as any CertIficates are registered m the name of Cede & Co , as nominee of DTC, all payments with respect to principal of, premium, if any, and interest on such Certificates, and all notices with respect to such CertIficates, shall be made and given, respectively, in the manner provided in the Representation Letter ARTICLE IV REDEMPTION OF CERTIFICATES BEFORE MATURITY Section 401 Limitation on Redemption. The Certificates shall be subject to redemption before scheduled maturity only as proVIded in this Article IV San Marcos CTRCO 2005 Ord 12.01.2005 12