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8 A- 2� <br />the redemption price thereof as provided in the Fiscal Agent Agreement, anything in the Fiscal Agent <br />Agreement or in the 2003 Bonds to the contrary notwithstanding; (b) upon presentation and surrender <br />thereof at the office of the Fiscal Agent, the redemption price of such 2003 Bonds shall be paid to the <br />Owners thereof; (c) as of the redemption date the 2003 Bonds, or portions thereof so designated for <br />redemption shall be deemed to be no longer Outstanding and such 2003 Bonds, or portions thereof, <br />shall cease to bear further interest; and (d) as of the date fixed for redemption no Owner of any of the <br />Bonds or portions thereof so designated for redemption shall be entitled to any of the benefits of the <br />Fiscal Agent Agreement or to any other rights, except with respect to payment of the redemption price <br />and interest accrued to the redemption date from the amounts so made available. <br />Registration. Transfer and Exchange <br />The Fiscal Agent will keep or cause to be kept, at its office, sufficient books for the registration <br />and transfer of the 2003 Bonds which shall upon reasonable prior notice be open to inspection by the <br />District during all regular business hours. <br />The District and the Fiscal Agent may treat the Owner of any 2003 Bond whose name appears <br />on the 2003 Bond Register as the absolute Owner of that 2003 Bond for any and all purposes, and the <br />District and the Fiscal Agent shall not be affected by any notice to the contrary. The District and the <br />Fiscal Agent may rely on the address of the 2003 Bondowner as it appears in the 2003 Bond Register <br />for any and all purposes. It shall be the duty of the 2003 Bondowner to give written notice to the Fiscal <br />Agent of any change in the 2003 Bondowner's address so that the 2003 Bond Register may be revised <br />accordingly. <br />Subject to the limitations set forth in the following paragraph, the registration of any 2003 Bond <br />may, in accordance with its terms, be transferred upon the 2003 Bond Register by the person in whose <br />name it is registered, in person or by his or her duly authorized attorney, upon surrender of such 2003 <br />Bond for cancellation at the office of the Fiscal Agent, accompanied by delivery of written instrument <br />of transfer in a form approved by the Fiscal Agent and duly executed by the 2003 Bondowner or his or <br />her duly authorized attorney. <br />2003 Bonds may be exchanged at the office of the Fiscal Agent for a like aggregate principal <br />amount of 2003 Bonds for other authorized denominations of the same maturity and issue. The Fiscal <br />Agent shall not collect from the Owner any charge for any new 2003 Bond issued upon any exchange or <br />transfer, but shall require the 2003 Bondowner requesting such exchange or transfer to pay any tax or <br />other governmental charge required to be paid with respect to such exchange or transfer. Whenever any <br />2003 Bonds shall be surrendered for registration of transfer or exchange, the District shall execute and <br />the Fiscal Agent shall authenticate and deliver a new 2003 Bond or 2003 Bonds, of the same issue and <br />maturity, for a like aggregate principal amount; provided that the Fiscal Agent shall not be required to <br />register transfers or make exchanges of (1) 2003 Bonds for a period of 15 days next preceding any <br />selection of the 2003 Bonds to be redeemed, or (ii) arty 2003 Bonds chosen for redemption. <br />Book Entry Only System <br />The following description of The Depository Trust Company ( "DTC "), the procedures and <br />record keeping with respect to beneficial ownership interests in the Bonds, payment of principal, <br />interest and other payments on the Bonds to DTC Participants or Beneficial Owners, confirmation and <br />transfer of beneficial ownership interest in the Bonds and other related transactions by and between <br />DTC, the DTC Participants and the Beneficial Owners is based solely on information provided by <br />DTC. Accordingly, no representations can be made by the District or the City conceming these matters <br />and neither the DTC Participants nor the Beneficial Owners should rely on the foregoing information <br />with respect to such matters, but should instead confirm the same with DTC or the DTC Participants, <br />as the case may be. <br />-10- <br />