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presentation thereof at the principal corporate trust office of the Paying Agent, or at successor <br /> Paying Agent and locality. <br /> Section S. 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 maturities of the Bonds as provided in <br /> Section 4 hereof, and the ownership of each such Bond shall be registered in the Bond Register <br /> in the name of Cede & Co., or any successor thereto ("Cede"), as nominee f The Depository <br /> Trust Company, New York, New York, and its successors and assigns ("LTC"). All of the <br /> outstanding Bonds shall be registered in the Bond Register in the name of Cede, as nominee of <br /> DTC, except as hereinafter provided. The Mayor, the Treasurer and the City Clerk are hereby <br /> authorized to execute and deliver on behalf of the City such letters to or agreements with DTC <br /> and the Bond Registrar as shall be necessary to effectuate such book-entry syst m (any such letter <br /> or agreement being referred to herein as the "Representation Letter <br /> With respect to the Bonds registered in the Bond Register in the lame of Cede, as <br /> nominee of DTC, the City and the Bond Registrar shall have no responsibili y or obligation to <br /> any broker-dealer, bank or other financial institution for which DTC holds Bonds from time to <br /> time as securities depository (each such broker-dealer, bank or other financial institution being <br /> referred to herein as a "DTC Participant") or to any person on behalf of whom such a DTC <br /> Participant holds an interest in the Bonds. Without limiting the immediately preceding sentence, <br /> the City and the Bond Registrar shall have no responsibility or obligation wit respect to (i) the <br /> accuracy of the records of DTC, Cede or any DTC Participant with respect to any ownership <br /> interest in the Bonds, (ii) the delivery 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 notice with respect to the <br /> Bonds, including any notice of redemption, or (iii) the payment to any DTC Participant or any <br /> other person, other than a registered owner of a Bond as shown in the Bon I Register, of any <br /> -6- <br />