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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 /> 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, and subject to the provisions in this Ordinance with respect to the <br /> payment of interest to the registered owners of the Bonds as of the close of business on the Record <br /> Date, the name "Cede"in this Ordinance shall refer to such new nominee 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 /> -10- <br />