Ord 1994-009 - Laserfiche WebLink

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. ,... ¡.,/ f;ð DTC has determined to substitute a new nominee in place of Cede & Co., and subject to the provisions in this 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 approved with such changes as may be approved by the President of the City Council, and such officer is hereby authorized to execute such Representation Letter. Section 3.11. Successor Securities Depositorv: Transfer Outc;ide Book-Entrv Onlv System. In the event that the City or the Paying AgentIRegistrar 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 benetìcial owners of the Certificates that they be ab Ie to obtain certificated Certificates, or in the event DTC discontinues the services described herein, 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 securities 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 restricted to being registered in the Register in the name of Cede & Co., as nominee of DTC, but may be registered in the name of the successor securities depository, or its nominee, or in whatever name or names Oi.vners transferring or exchanging Certificates shall designate, in accordance with the provisions of this Ordinance. Section 3.12. Pavments to Cede & Co. Notwithstanding any other provision of this Ordinance to the contrary, so long as any Certificates are registered in 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 4.01. Limitation on Redemption. The Certificates shall be subject to redemption before scheduled maturity only as provided in this Article IV. Section 4.02. No Optional Redemption. The Certificates are not subject to optional redemption prior to scheduled maturity. SAIIM^l<\COI><\DOCS\ORD NCB:l1.:r1; L57;HBBP 11