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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 Bond Register, of any <br /> amount with respect to principal of or interest on the Bonds. The City and the Bond Registraz <br /> may treat and consider the person in whose name each Bond is registered in the Bond Register as <br /> the holder and absolute owner of such Bond for the purpose of payment of principal and interest <br /> with respect to such Bond, for the purpose of giving notices of redemption and other matters <br /> with respect to such Bond,for the purpose of registering transfers with respect to such Bond, and <br /> for all other purposes whatscever. The Bond Registraz shall pay all principal of and interest on <br /> the Bonds only to or upon the order of the respective registered owners of the Bonds, as shown <br /> in the Bond Register, or their respective attorneys duly authorized in writing, and all such <br /> payments shall be valid and effective to fully satisfy and dischazge the City's obligations with <br /> respect to payment of principal of and interest on the Bonds to the extent of the sum or sums so <br /> paid. No person other than a registered owner of a Bond as shown in the Bond Register, shall <br /> receive a Bond certificate evidencing the obligation of the City to make payments of principal <br /> and interest with respect to any Bond. Upon delivery by DTC to the Bond Registrar of written <br /> notice to the effect that DTC has determined to substitute a new nominee in place of Cede, the <br /> 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 /> City,the Bond Registrar and DTC evidenced by the Representation Letter shall be ternunated for <br /> any reason or (iii) the City determines that it is in the best interests of the bene�cial owners of <br /> the 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 <br /> be restricted to being registered in the Bond Register in the name of Cede, as nominee of DTC. <br /> -8- <br />