Laserfiche WebLink
Registrar's powers and duties under this ordinance. The Bond Registrar shall be responsible for <br /> its representations contained in the Certificate of Authentication of the Bonds. <br /> (b) Registered Ownership. The City and the Bond Registrar, each in its discretion, <br /> may deem and treat the Registered Owner of each Bond as the absolute owner thereof for all <br /> purposes (except as provided in Section 12 of this ordinance), and neither the City nor the Bond <br /> Registrar shall be affected by any notice to the contrary. Payment of any such Bond shall be <br /> made only as described in Section 3(g) hereof, but such Bond may be transferred as herein <br /> provided. All such payments made as described in Section 3(g) shall be valid and shall satisfy <br /> and discharge the liability of the City upon such Bond to the extent of the amount or amounts so <br /> paid. <br /> (c) DTC Acceptance/Letters of Representations. The Bonds initially shall be held in <br /> fully immobilized form by DTC acting as depository. To induce DTC to accept the Bonds as <br /> eligible for deposit at DTC, the City has executed and delivered to DTC a Blanket Issuer Letter <br /> of Representations. Neither the City nor the Bond Registrar will have any responsibility or <br /> obligation to DTC participants or the persons for whom they act as nominees (or any successor <br /> depository) with respect to the Bonds in respect of the accuracy of any records maintained by <br /> DTC (or any successor depository) or any DTC participant, the payment by DTC (or any <br /> successor depository) or any DTC participant of any amount in respect of the principal of or <br /> interest on Bonds, any notice which is permitted or required to be given to Registered Owners <br /> under this ordinance (except such notices as shall be required to be given by the City to the Bond <br /> Registrar or to DTC (or any successor depository)), or any consent given or other action taken by <br /> DTC (or any successor depository) as the Registered Owner. For so long as any Bonds are held <br /> in fully-immobilized form hereunder, DTC or its successor depository shall be deemed to be the <br /> -8- P:\20287 CMW\20287 9RD 08/14/12 <br />