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City, in which event the City may appoint a successor registrar and paying agent. The City shall <br /> notify each registered owner of the Bonds then outstanding by first class mail of the removal of <br /> the Registrar and Paying Agent. Notices to the registered owners of the Bonds shall be deemed to <br /> be given when mailed by first class mail to the addresses of such registered owners as they appear <br /> on the registration books kept by the Registrar. <br /> Upon the appointment of any successor registrar and paying agent by the City, the <br /> Controller is authorized and directed to enter into such agreements and understandings with such <br /> successor registrar and paying agent as will enable the institution to perform the services required <br /> of a registrar and paying agent for the Bonds. The Controller is further authorized to pay such fees <br /> as the successor registrar and paying agent may charge for the services it provides as registrar and <br /> paying agent, and such fees may be paid from the Waterworks Sinking Fund continued in Section <br /> XV hereof Any predecessor registrar and paying agent shall deliver all of the Bonds and any cash <br /> or investments in its possession with respect thereto, together with the registration books, to the <br /> successor registrar and paying agent. <br /> (f) Interest on all other Bonds shall be payable from the interest payment date <br /> to which interest has been paid next preceding the authentication date of the Bonds unless the <br /> Bonds are authenticated after the Record Date and on or before such interest payment date, in <br /> which case they shall bear interest from such interest payment date, or unless the Bonds are <br /> authenticated on or before the Record Date preceding the first interest payment date, in which case <br /> they shall bear interest from the original date, until the principal shall be fully paid. <br /> (g) The Bonds may be issued in book-entry-only form as one (1) fully <br /> registered Bond per maturity registered in the name of Cede&Co.,as nominee for The Depository <br /> Trust Company, New York, New York ("Depository Trust Company") and have transfers of the <br /> Bonds effected by book-entry on the books of the central depository system ("Book Entry <br /> System"). The Bonds may be initially issued in the form of a separate single authenticated fully <br /> registered Bond for the aggregate principal amount of each separate maturity of the Bonds. In <br /> such case, upon initial issuance, the ownership of such Bonds shall be registered in the register <br /> kept by the Registrar in the name of CEDE & CO., as nominee of the Depository Trust Company. <br /> With respect to the Bonds registered in the register kept by the Registrar in the name of <br /> CEDE & CO., as nominee of the Depository Trust Company, the City and the Paying Agent shall <br /> have no responsibility or obligation to any other holders or owners(including any beneficial owner <br /> ("Beneficial Owner"))of the Bonds with respect to(i)the accuracy of the records of the Depository <br /> Trust Company, CEDE & CO., or any Beneficial Owner with respect to ownership questions, (ii) <br /> the delivery to any bondholder (including any Beneficial Owner) or any other person, other than <br /> the Depository Trust Company, of any notice with respect to the Bonds including any notice of <br /> redemption, or(iii) the payment to any bondholder(including any Beneficial Owner) or any other <br /> person, other than the Depository Trust Company, of any amount with respect to the principal of, <br /> or premium, if any, or interest on the Bonds, except as otherwise provided herein. <br /> With respect to Bonds registered in the name of CEDE & CO., the following provisions <br /> shall also apply. No person other than the Depository Trust Company shall receive an <br /> authenticated Bond evidencing an obligation of the City to make payments of the principal of and <br /> premium,if any, and interest on the Bonds pursuant to this Ordinance. The City and the Registrar <br /> and Paying Agent may treat as and deem the Depository Trust Company or CEDE & CO. to be <br /> the absolute bondholder of each of the Bonds for the purpose of(i)payment of the principal of and <br /> premium, if any, and interest on such Bonds; (ii) giving notices of redemption and other notices <br /> permitted to be given to bondholders with respect to such Bonds; (iii) registering transfers with <br /> respect to such Bonds; (iv)obtaining any consent or other action required or permitted to be taken <br /> by or with respect to bondholders; (v) voting; and (vi) for all other purposes whatsoever. The <br /> Paying Agent shall pay all principal of and premium, if any, and interest on the Bonds only to or <br /> upon the order of the Depository Trust Company,and all such payments shall be valid and effective <br /> fully to satisfy and discharge the City's and the Paying Agent's obligations with respect to <br /> principal of and premium, if any, and interest on the Bonds to the extent of the sum or sums so <br /> paid. Upon delivery by the Depository Trust Company to the City of written notice to the effect <br /> that the Depository Trust Company has determined to substitute a new nominee in place of CEDE <br /> & CO., and subject to the provisions herein with respect to consents, the words"CEDE&CO."in <br /> this Ordinance shall refer to such new nominee of the Depository Trust <br /> Company. Notwithstanding any other provision hereof to the contrary, so long as any Bond is <br /> registered in the name of CEDE & CO., as nominee of the Depository Trust Company, all <br /> payments with respect to the principal of and premium, if any, and interest on such Bonds and all <br /> • <br /> - 6 - <br />