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Appendix G <br />Page 1 <br />APPENDIX G <br /> <br />BOOK-ENTRY ONLY SYSTEM <br /> <br /> <br />The following description of the procedures and record keeping with respect to beneficial <br />ownership interests in the Bonds, payment of principal, redemption premium, if any, and interest with <br />respect to the Bonds to The Depository Trust Company (“DTC”), New York, NY, its Participants or <br />Beneficial Owners, confirmation and transfers of beneficial ownership interests in the Bonds and other <br />related transactions by and between DTC, its Participants and the Beneficial Owners is based solely on <br />the understanding of the Authority of such procedures and record keeping from information provided by <br />DTC. Accordingly, no representations can be made concerning these matters and neither DTC, its <br />Participants nor the Beneficial Owners should rely on the foregoing information with respect to such <br />matters, but should instead confirm the same with DTC or its Participants, as the case may be. The City, <br />the Authority, the Trustee and the Underwriter understand that the current “Rules” applicable to DTC <br />are on file with the Securities and Exchange Commission and that the current “Procedures” of DTC to be <br />followed in dealing with Participants are on file with DTC. <br /> <br />DTC will act as securities depository for the Bonds. The Bonds will be issued as fully-registered <br />securities registered in the name of Cede & Co. (DTC’s partnership nominee) or such other name as may <br />be requested by an authorized representative of DTC. One fully-registered Bond certificate will be issued <br />for each maturity of the Bonds, each in the aggregate principal amount of such maturity, and will be <br />deposited with DTC. <br /> <br />DTC, the world’s largest depository, is a limited-purpose trust company organized under the <br />New York Banking Law, a “banking organization” within the meaning of the New York Banking Law, a <br />member of the Federal Reserve System, a “clearing corporation” within the meaning of the New York <br />Uniform Commercial Code, and a “clearing agency” registered pursuant to the provisions of Section 17A <br />of the Securities Exchange Act of 1934. DTC holds and provides asset servicing for over 3.5 million issues <br />of U.S. and non-U.S. equity issues, corporate and municipal debt issues, and money market instruments <br />(from over 100 countries) that DTC’s participants (“Direct Participants”) deposit with DTC. DTC also <br />facilitates the post-trade settlement among Direct Participants of sales and other securities transactions in <br />deposited securities, through electronic computerized book-entry transfers and pledges between Direct <br />Participants’ accounts. This eliminates the need for physical movement of securities certificates. Direct <br />Participants include both U.S. and non-U.S. securities brokers and dealers, banks, trust companies, <br />clearing corporations, and certain other organizations. DTC is a wholly-owned subsidiary of The <br />Depository Trust & Clearing Corporation (“DTCC”). DTCC is the holding company for DTC, National <br />Securities Clearing Corporation and Fixed Income Clearing Corporation, all of which are registered <br />clearing agencies. DTTC is owned by users of its regulated subsidiaries. Access to the DTC system is also <br />available to others such as both U.S. and non-U.S. securities brokers and dealers, banks, trust companies, <br />and clearing corporations that clear through or maintain a custodial relationship with a Direct <br />Participant, either directly or indirectly (“Indirect Participants”). DTC has a rating from Standard & <br />Poor’s of AA+. The DTC Rules applicable to its Participants are on file with the Securities and Exchange <br />Commission. More information about DTC can be found at www.dtcc.com and www.dtc.org. <br /> <br />Purchases of the Bonds under the DTC system must be made by or through Direct Participants, <br />which will receive a credit for the Bonds on DTC’s records. The ownership interest of each actual <br />purchaser of each Bond (“Beneficial Owner”) is in turn to be recorded on the Direct and Indirect <br />Participants’ records. Beneficial Owners will not receive written confirmation from DTC of their <br />purchase. Beneficial Owners are, however, expected to receive written confirmations providing details of <br />the transaction, as well as periodic statements of their holdings, from the Direct or Indirect Participant <br />through which the Beneficial Owner entered into the transaction. Transfers of ownership interests in the <br />Bonds are to be accomplished by entries made on the books of Direct and Indirect Participants acting on <br />behalf of Beneficial Owners. Beneficial Owners will not receive certificates representing their ownership <br />interests in the Bonds, except in the event that use of the book-entry system for the Bonds is discontinued. <br /> <br />To facilitate subsequent transfers, all Bonds deposited by Direct Participants with DTC are <br />registered in the name of DTC’s partnership nominee, Cede & Co., or such other name as may be <br />8.C. - Page 104