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("DTC") and except as provided in subsection (f) hereof, all of the outstanding Bonds shall be <br /> registered in the name of Cede& Co.,as nominee of DTC. <br /> With respect to Bonds registered in the name of Cede& Co.,as nominee of DTC, the City <br /> and the Paying Agent/Registrar shall have no responsibility or obligation to any securities brokers <br /> and dealers,banks,trust companies,clearing corporations and certain other organizations on whose <br /> behalf DTC was created to hold securities to facilitate the clearance and settlement of securities <br /> transactions among DTC participants (the "DTC Participant")or to any person on behalf of whom <br /> such a DTC Participant holds an interest in the Bonds. Without limiting the immediately preceding <br /> sentence, the City and the Paying Agent/Registrar shall have no responsibility or obligation with <br /> respect to(i)the accuracy of the records of DTC,Cede&Co.or any DTC Participant with respect to <br /> any ownership interest in the Bonds, (ii) the delivery to any DTC Participant or any other person, <br /> other than a Registered Owner,as shown on the Registration Books,of any notice with respect to the <br /> Bonds,or(iii)the payment to any DTC Participant or any person,other han a Registered Owner,as <br /> shown on the Registration Books of any amount with respect to principal of or interest on the Bonds. <br /> Notwithstanding any other provision of this Ordinance to the contrary,but to the extent permitted by <br /> law, the City and the Paying Agent/Registrar shall be entitled to treat and consider the person in <br /> whose name each Bond is registered in the Registration Books as the absolute owner of such Bond <br /> for the purpose of payment of principal of and interest,with respect to such Bond,for the purposes of <br /> registering transfers with respect to such Bond, and for all other purposes of registering transfers <br /> with respect to such Bonds,and for all other purposes whatsoever. The Paying Agent/Registrar shall <br /> pay all principal of and interest on the Bonds only to or upon the order of the respective Registered <br /> Owners, as shown in the Registration Books as provided in this Ordinance, or their respective <br /> attorneys duly authorized in writing, and all such payments shall be valid and effective to fully <br /> satisfy and discharge the City's obligations with respect to payment of principal of and interest on the <br /> Bonds to the extent of the sum or sums so paid. No person other than a Registered Owner,as shown <br /> in the Registration Books, shall receive a Bond evidencing the obligation of the City to make <br /> payments of principal,and interest pursuant to this Ordinance. Upon delivery by DTC to the Paying <br /> Agent/Registrar of written notice to the effect that DTC has determined to substitute a new nominee <br /> in place of Cede & Co., and subject to the provisions in this Ordinance with respect to interest <br /> checks being mailed to the registered owner at the close of business on the Record Date the word <br /> "Cede & Co." in this Ordinance shall refer to such new nominee of DTC. <br /> (1) Successor Securities Depository; Transfer Outside Book-Entry-Only System. In the <br /> event that the City determines to discontinue the book-entry system through DTC or a successor or <br /> DTC determines to discontinue providing its services with respect to the Bond,the City shall either <br /> (i) appoint a successor securities depository, qualified to act as such under Section 17(a) of the <br /> Securities and Exchange Act of 1934, as amended, notify DTC and DTC Participants of the <br /> appointment of such successor securities depository and transfer one or more separate Bonds to such <br /> successor securities depository or(ii) notify DTC and DTC Participants of the availability through <br /> DTC of Bonds and transfer one or more separate Bonds to DTC Participants having Bonds credited <br /> to their DTC accounts. In such event,the Bonds shall no longer be restricted to being registered in <br /> the Registration Books in the name of Cede&Co.,as nominee of DTC,but may be registered in the <br /> name of the successor securities depository, or its nominee, or in whatever name or names the <br /> 8 <br /> s.2„arco,\OO13201o,a,n,nceO0 <br />