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and mailed to the registered owner of the Bond as shown in the Bond Registrar or at such other <br /> address furnished in writing by such Registered Owner. The Record Date shall be the 15th day of <br /> the month next preceding any regular or other interest payment date occurring on the 1 st day of <br /> any month and 15 days next preceding any interest payment date occasioned by the redemption of <br /> Bonds on other than the 1 st day of a month. The principal of or redemption price due on the Bonds <br /> shall be payable in lawful money of the United States of America upon presentation thereof at the <br /> principal corporate trust office of the Paying Agent, or at successor Paying Agent and locality. <br /> Section 5. Global Book-Entry System. The Bonds shall be initially issued in the form <br /> of a separate single fully registered Bond for each of the series and maturities of the Bonds as <br /> provided in Section 4 hereof, and the ownership of each such Bond may be registered in the Bond <br /> Register in the name of Cede & Co., or any successor thereto ("Cede"), as nominee of The <br /> Depository Trust Company, New York, New York, and its successors and assigns ("DTC"). In <br /> such event, all of such outstanding Bonds shall be registered in the Bond Register in the name of <br /> Cede, as nominee of DTC, except as hereinafter provided. The Mayor, the Treasurer, the City <br /> Clerk, the City Manager, and the Director of Finance of the City are each 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 /> -9- <br />