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<br />SECTION 21. Approval of Official Statement. The distribution of the preliminary official
<br />statement with respect to the 2001 Bonds, substantially in the form presented to this meeting, with
<br />such changes and modifications as maybe authorized by the Mayor, as evidenced by his signature
<br />thereon, is hereby authorized, approved and ratified, and this Council hereby deems final said official
<br />statement, as of its date, in accordance with the provisions of Rule 15c2-12 of the Securities and
<br />Exchange Commission, subject to completion as permitted by said Rule, and the Common Council
<br />further authorizes the distribution of the deemed final official statement, and the execution, delivery
<br />and distribution of such document as further modified and amended in the form of a final official
<br />statement.
<br />SECTION 22. No Conflict. Except as described in Section 27 below, all ordinances and
<br />parts of ordinances in conflict herewith are hereby repealed.
<br />SECTION 23. Severability. If any section, paragraph or provision of this Ordinance shall
<br />be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such
<br />section, paragraph or provision shall not affect any of the remaining provisions of this Ordinance.
<br />SECTION 24. Bond Insurance. In connection with the sale of the 2001 Bonds, the Mayor,
<br />the Controller and the Clerk are each authorized to execute and deliver such agreements and
<br />instruments as they deem advisable to secure bond insurance for the 2001 Bonds, and the execution
<br />and delivery of such agreements and instruments are hereby approved. The premium, if any, for such
<br />bond insurance shall be payable from the proceeds of the 2001 Bonds.
<br />SECTION 25. Authorization for Book-Entr~ystem. The 2001 Bonds may, incompliance
<br />with all applicable laws, initially be issued and held in book-entry form on the books of the central
<br />depository system, The Depository Trust Company, its successors, or any successor central
<br />depository system appointed by the City from time to time (the "Clearing Agency"),without physical
<br />distribution of bonds to the purchasers. The following provisions of this Section apply in such event.
<br />One definitive 2001 Bond of each maturity shall be delivered to the Clearing Agency (or its
<br />agent) and held in its custody. The City and Registrar may, in connection herewith, do or perform
<br />or cause to be done or performed any acts or things not adverse to the rights of the holders of the 2001
<br />Bonds as are necessary or appropriate to accomplish or recognize such book-entry form 2001 Bonds.
<br />During any time that the 2001 Bonds are held inbook-entry form on the books of a Clearing
<br />Agency, (1) any such 2001 Bond maybe registered upon Registration Record in the name of such
<br />Clearing Agency, or any nominee thereof, including Cede & Co.; (2) the Clearing Agency in whose
<br />name such 2001 Bond is so registered shall be, and the City and the Registrar and Paying Agent may
<br />deem and treat such Clearing Agency as, the absolute owner and holder of such 2001 Bond for all
<br />purposes of this Ordinance, including, without limitation, the receiving of payment of the principal
<br />of and interest and premium, if any, on such 2001 Bond, the receiving of notice and the giving of
<br />consent; (3) neither the City nor the Registrar or Paying Agent shall have any responsibility or
<br />obligation hereunder to any direct or indirect participant, within the meaning of Section 17A of the
<br />Securities Exchange Act of 1934, as amended, of such Clearing Agency, or any person on behalf of
<br />which, or otherwise in respect of which, any such participant holds any interest in any 2001 Bond,
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