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<br /> } ;¡ q t.... <br /> (c) The execution and delivery of the Representation Letter <br /> is hereby approved with such changes as may be approved by the Mayor <br /> of the City, and the Mayor of said City is hereby authorized to <br /> execute such Representation Letter. <br /> Section 3.11. Successor Securities Depository; Transfer <br /> Outside Book-Entry Only System. <br /> In the event that the City or the Paying Agent/Registrar <br /> determines that DTC is incapable of discharging its responsibilities <br /> described herein and in the Representation Letter, and that it is in <br /> the best interest of the beneficial owners of the Bonds that they be <br /> able to obtain certificated Bonds, or in the event DTC discontinues <br /> the services described herein, the City or the Paying <br /> Agent/Registrar shall (i) appoint a successor securities depository, <br /> qualified to act as such under Section 17(a) of the Securities and <br /> Exchange Act of 1934, as amended, notify DTC and DTC Participants, <br /> as identified by DTC, of the appointment of such successor <br /> securities depository and transfer one or more separate Bonds to <br /> such successor securities depository or (ii) notify DTC and DTC <br /> Participants, as identified by DTC, of the availability through DTC <br /> of Bonds and transfer one or more separate Bonds to DTC Participants <br /> having Bonds credited to their DTC accounts, as identified by DTC. <br /> In such event, the Bonds shall no longer be restricted to being <br /> registered in the Register in the name of Cede & Co., as nominee of <br /> DTC, but may be registered in the name of the successor securities <br /> depository, or its nominee, or in whatever name or names Owners <br /> transferring or exchanging Bonds shall designate, in accordance with <br /> the provisions of this Ordinance. <br /> Section 3.12. Payments to Cede & Co. <br /> Notwithstanding any other provision of this Ordinance to the <br /> contrary, so 10ng as any Bonds are registered in the name of Cede & <br /> Co., as nominee of DTC, all payments with respect to principal of, <br /> premium, if any, and interest on such Bonds, and all notices with <br /> respect to such Bonds, shall be made and given, respectively, in the <br /> manner provided in the Representation Letter. <br /> ARTICLE IV <br /> REDEMPTION OF BONDS BEFORE MATURITY <br /> Section 4.01. Limitation on Redemption. <br /> The Bonds shall be subject to redemption before scheduled <br /> maturity only as provided in this Article IV. <br /> 4579f <br /> -14- <br />