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AgdaPkt 2017-01-23 Closed and Joint
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AgdaPkt 2017-01-23 Closed and Joint
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Last modified
1/24/2017 10:22:46 AM
Creation date
1/19/2017 3:58:58 PM
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Template:
CC Index
CC Index - Document Type
Agenda Packet
Meeting Type
Joint
Agency Type
City Council and Successor Agency and Public Financing Authority
Date
1/23/2017
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<br />14 <br />(except as otherwise herein provided), if made in the Form of the Assignment attached to the <br />Bond in Appendix A hereto. <br /> <br />Nothing contained in this Article shall be construed as limiting the Trustee to such proof, <br />it being intended that the Trustee may accept any other evidence of the matters herein stated <br />which to the Trustee may seem sufficient. Any request or consent of the Owner of any Bond <br />shall bind every future Owner of the same Bond in respect of anything done or suffered to be <br />done by the Authority or the Trustee in pursuance of such request or consent. <br /> <br />Section 2.11. Book Entry System. <br /> <br />(a) Original Delivery. The Bonds shall be initially delivered in the form of a separate <br />single fully registered Bond (which may be typewritten) for each maturity. Upon initial delivery, <br />the ownership of each such Bond shall be registered on the Bond Register kept by the Trustee <br />in the name of the Nominee. Except as provided in subsection (c), the ownership of all of the <br />Outstanding Bonds shall be registered in the name of the Nominee. <br /> <br />With respect to Bonds the ownership of which shall be registered in the name of the <br />Nominee, the Authority and the Trustee shall have no responsibility or obligation to any <br />Depository System Participant or to any person on behalf of which the Authority holds an <br />interest in the Bonds. Without limiting the generality of the immediately preceding sentence, the <br />Authority and the Trustee shall have no responsibility or obligation with respect to (i) the <br />accuracy of the records of the Depository, the Nominee or any Depository System Participant <br />with respect to any ownership interest in the Bonds, (ii) the delivery to any Depository. System <br />Participant or any other person, other than a Bond Owner as shown in the Bond Register, or <br />any notice with respect to the Bonds, including any notice of redemption, (iii) the selection by <br />the Depository of the beneficial interests in the Bonds to be redeemed in the event the Authority <br />elects to redeem the Bond in part, (iv) the payment to. any Depository System Participant or any <br />other person, other than a Bond Owner as shown in the Bond Register, of any amount with <br />respect to principal, premium, if any, or interest on the Bonds, or (v) any consent given or other <br />action taken by the Depository as Owner of the Bonds. The Authority and the Trustee may treat <br />and consider the person in whose name each Bond is registered as the absolute owner of such <br />Bonds for the purpose of payment of principal of, premium, if any, and interest on such Bonds <br />for the purpose of giving notices of redemption and other matters with respect to such Bonds, <br />for the purpose of registering transfers of ownership of such Bonds, and for all other purposes <br />whatsoever. The Trustee shall pay the principal of and the interest and premium, if any, on the <br />Bonds only to the respective Owners or their respective attorneys duly authorized in writing, and <br />all such, payments shall be valid and effective to fully satisfy and discharge all obligations with <br />respect to payment of principal of and interest and premium, if any, on the Bonds to the extent <br />of the sum or sums so paid. No person other than an Owner shall receive a Bond evidencing <br />the obligation of the Authority to make payments of principal, interest and premium, if any, <br />pursuant to this Indenture. Upon delivery by the Depository to the Nominee of written notice to <br />the effect that the Depository has determined to substitute a new Nominee in its place, and <br />subject to the provisions herein with respect to Record Dates, such new nominee shall become <br />the Nominee hereunder for all purposes; and upon receipt of such a notice of the Authority shall <br />promptly, but in no event later than two (2) Business Days after receipt thereof, deliver a copy of <br />the same to the Trustee. <br /> <br />(b) Representation Letter. In order to qualify the Bonds for the Depository’s book- <br />entry system, the Authority shall execute and deliver to such Depository a letter (the “Letter of <br />Representations”) representing such matters as shall be necessary to so qualify the Bonds. The <br />8.C. - Page 125
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