Laserfiche WebLink
as hereinafter provided. The Mayor, the Treasurer and the City Clerk are hereby authorized to <br /> execute and deliver on behalf of the City such letters to or agreements with DTC and the Bond <br /> Registrar as shall be necessary to effectuate such book-entry system(any such letter or agreement <br /> being referred to herein as the "Representation Letter"). <br /> With respect to the Bonds registered in the Bond Register in the name of Cede,as nominee <br /> of DTC, the City and the Bond Registrar shall have no responsibility or obligation to any broker- <br /> dealer, bank or other financial institution for which DTC holds Bonds from time to time as <br /> securities depository(each such broker-dealer,bank or other financial institution being referred to <br /> herein as a "DTC Participant")or to any person on behalf of whom such a DTC Participant holds <br /> an interest in the Bonds. Without limiting the immediately preceding sentence, the City and the <br /> Bond Registrar shall have no responsibility or obligation with respect to (i)the accuracy of the <br /> records of DTC, Cede or any DTC Participant with respect to any ownership interest in the Bonds, <br /> (ii)the delivery to any DTC Participant or any other person, other than a registered owner of a <br /> Bond as shown in the Bond Register,of any notice with respect to the Bonds, including any notice <br /> of redemption, or (iii)the payment to any DTC Participant or any other person, other than a <br /> registered owner of a Bond as shown in the Bond Register,of any amount with respect to principal <br /> of or interest on the Bonds. The City and the Bond Registrar may treat and consider the person in <br /> whose name each Bond is registered in the Bond Register as the holder and absolute owner of such <br /> Bond for the purpose of payment of principal and interest with respect to such Bond, for the <br /> purpose of giving notices of redemption and other matters with respect to such Bond, for the <br /> purpose of registering transfers with respect to such Bond, and for all other purposes whatsoever. <br /> The Bond Registrar shall pay all principal of and interest on the Bonds only to or upon the order <br /> of the respective registered owners of the Bonds,as shown in the Bond Register,or their respective <br /> attorneys duly authorized in writing, and all such payments shall be valid and effective to fully <br /> -6- <br />