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determined to substitute a new nominee in place of Cede & Co., and subject to the provisions in this <br />Ordinance with respect to interest checks or drafts being mailed to the registered Owner at the close <br />of business on the Record Date, the word "Cede & Co." in this Ordinance shall refer to such new <br />nominee of DTC. <br /> (c) The execution and delivery of the Representation Letter is hereby ratified and <br />confirmed; and the provisions thereof shall be fully applicable to the Certificates. <br /> Section 3.10. Successor Securities Depository; Transfer Outside Book-Entry Only System. <br /> In the event that the City or the Paying Agent/Registrar determines that DTC is incapable of <br />discharging its responsibilities described herein and in the Representation Letter, and that it is in the <br />best interest of the beneficial owners of the Certificates that they be able to obtain certificated <br />Certificates, or in the event DTC discontinues the services described herein, the City or the Paying <br />Agent/Registrar shall (i) appoint a successor securities depository, qualified to act as such under <br />Section 17(a) of the Securities and Exchange Act of 1934, as amended, notify DTC and DTC <br />Participants, as identified by DTC, of the appointment of such successor securities depository and <br />transfer one or more separate Certificates to such successor securities depository or (ii) notify DTC <br />and DTC Participants, as identified by DTC, of the availability through DTC of Certificates and <br />transfer one or more separate Certificates to DTC Participants having Certificates credited to their <br />DTC accounts, as identified by DTC. In such event, the Certificates shall no longer be restricted to <br />being registered in the Register in the name of Cede & Co., as nominee of DTC, but may be <br />registered in the name of the successor securities depository, or its nominee, or in whatever name or <br />names Owners transferring or exchanging Certificates shall designate, in accordance with the <br />provisions of this Ordinance. <br /> Section 3.11. Payments to Cede & Co. <br /> Notwithstanding any other provision of this Ordinance to the contrary, so long as any <br />Certificates are registered in the name of Cede & Co., as nominee of DTC, all payments with <br />respect to principal of, premium, if any, and interest on such Certificates, and all notices with <br />respect to such Certificates, shall be made and given, respectively, in the manner provided in the <br />Representation Letter. <br />ARTICLE IV <br />REDEMPTION OF CERTIFICATES BEFORE MATURITY <br /> Section 4.01. Limitation on Redemption. <br /> The Certificates shall be subject to redemption before scheduled maturity only as provided <br />in this Article IV. <br />18 <br />San Marcos CTRCO 2021A: Ordinance <br /> <br />