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satisfy and discharge the City's obligations with respect to payment of principal of and interest on <br /> the Bonds to the extent of the sum or sums so paid. No person other than a registered owner of a <br /> Bond as shown in the Bond Register, shall receive a Bond certificate evidencing the obligation of <br /> the City to make payments of principal and interest with respect to any Bond. Upon delivery by <br /> DTC to the Bond Registrar of written notice to the effect that DTC has determined to substitute a <br /> new nominee in place of Cede,the name "Cede"in this Ordinance shall refer to such new nominee <br /> of DTC. <br /> In the event that (i) the City determines that DTC is incapable of discharging its <br /> responsibilities described herein and in the Representation Letter, (ii)the agreement among the <br /> City, the Bond Registrar and DTC evidenced by the Representation Letter shall be terminated for <br /> any reason or(iii)the City determines that it is in the best interests of the beneficial owners of the <br /> Bonds that they be able to obtain certificated Bonds, the City shall notify DTC and DTC <br /> Participants of the availability through DTC of Bond certificates and the Bonds shall no longer be <br /> restricted to being registered in the Bond Register in the name of Cede, as nominee of DTC. At <br /> the time, the City may determine that the Bonds shall be registered in the name of and deposited <br /> with such other depository operating a global book-entry system,as may be acceptable to the City, <br /> or such depository's agent or designee, and if the City does not select such alternate global book- <br /> entry system, then the Bonds may be registered in whatever name or names registered owners of <br /> Bonds transferring or exchanging Bonds shall designate, in accordance with the provisions of <br /> Section 11 hereof. <br /> Notwithstanding any other provision of this Ordinance to the contrary, so long as any Bond <br /> is registered in the name of Cede, as nominee of DTC, all payments with respect to principal of <br /> and interest on such Bond and all notices with respect to such Bond shall be made and given, <br /> respectively, in the manner provided in the Representation Letter. <br /> -7- <br />