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amount with respect to principal of or interest on the Bonds. The City and the Bond Registrar <br /> may treat and consider the person in whose name each Bond is registered int e Bond Register as <br /> the holder and absolute owner of such Bond for the purpose of payment of p incipal and interest <br /> with respect to such Bond, for the purpose of giving notices of redemption an other matters with <br /> respect to such Bond, for the purpose of registering transfers with respect to uch Bond, and for <br /> all other purposes whatsoever. The Bond Registrar shall pay all principal o and interest on the <br /> Bonds only to or upon the order of the respective registered owners of the Bor ds, as shown in the <br /> Bond Register, or their respective attorneys duly authorized in writing, and all such payments <br /> shall be valid and effective to fully satisfy and discharge the City's obligati ns with respect to <br /> payment of principal of and interest on the Bonds to the extent of the sum of sums so paid. No <br /> person other than a registered owner of a Bond as shown in the Bond Regi ter, shall receive a <br /> Bond certificate evidencing the obligation of the City to make payments of principal and interest <br /> with respect to any Bond. Upon delivery by DTC to the Bond Registrar of written notice to the <br /> effect that DTC has determined to substitute a new nominee in place of Cede the name "Cede" <br /> 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 /> City, the Bond Registrar and DTC evidenced by the Representation Letter sha 1 be terminated for <br /> any reason or (iii) the City determines that it is in the best interests of the bene icial owners of the <br /> Bonds that they be able to obtain certificated Bonds, the City shall noti y DTC and DTC <br /> Participants of the availability through DTC of Bond certificates and the Bonds shall no longer <br /> be restricted to being registered in the Bond Register in the name of Cede, a nominee of DTC. <br /> At the time, the City may determine that the Bonds shall be registered ir the name of and <br /> deposited with such other depository operating a global book-entry system, as may be acceptable <br /> -7- <br />