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AgdaPkt 2012-01-09
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AgdaPkt 2012-01-09
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Last modified
3/6/2012 1:23:44 PM
Creation date
1/5/2012 4:46:23 PM
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Template:
CC Index
CC Index - Document Type
Agenda Packet
Meeting Type
Regular
Agency Type
City Council and Redevelopment Agency
Date
1/9/2012
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8.A. - Page 90 <br /> 6. Redemption notices shall be sent to DTC. If less than all of the Securities witllin an <br /> issue are being redeemed, DTCs practice is to determule by lot the amount of the interest of <br /> each Direct Participant in such issue to be redeemed. <br /> 7. Neither DTC nor Cede & Co. (nor any other DTC nominee) will consent or vote with <br /> respect to Securities unless authorized by a Direct Participant in accordance with DTC's MMI <br /> Procedures. Under its usu11 procedures, DTC mails an Omnibus Proxy to Issuer 1s soon 1s <br /> possible after the record date. The Omnibus Proxy assigns Cede & Co.'s consenting or voting <br /> rigllts to those Direct Participants to whose accounts Securities are credited on the record date <br /> (identified in a listing attached to the Omnibus Proxy). <br /> 8. Redemption proceeds, distributions, and dividend payments on the Securities will be <br /> made to Cede & Co., or such other nominee as may be requested by an authorized <br /> representative of DTC. DTC's practice is to credit Direct Participants' accounts upon DTC's <br /> receipt of funds and corresponding detlil informltion from Issuer or Agent, on paylble date in <br /> accordance with their respective holdings shown oi1 DTCs records. Payments by Participants <br /> to Beneficial Owners will be govemed by standing instructions and customary practices, as is <br /> the case with securities held for the accounts of customers in bearer form or registered in <br /> "street name," and will be the responsibility of such Participant and not of DTC, Agent, or <br /> Issuer, subject to any statutory or regulatory requirements as may be in effect from time to <br /> time. Payment of redemption proceeds, distributions, and dividend payments to Cede & Co. <br /> (or such other nominee as may be requested by an authorized representative of DTC) is the <br /> responsibility of Issuer or Agent, disbursement of such payments to Direct Participants will be <br /> the responsibility of DTC, and disbursement of such payments to the Beneficial Owners will be <br /> the responsibility of Direct and Indirect Participants. <br /> 9. DTC may discontinue providing its services as depository with respect to the <br /> Securities at any time by giving reasonable notice to Issuer or Agent. Under such <br /> circumstances, in the event that a successor depository is not obtained, Security certificates are <br /> required to be printed and delivered. <br /> 10. Issuer may decide to discontinue use of the system of book-entry-only transfers <br /> through DTC (or a successor securities depository). In that event, Security certificates will be <br /> printed and delivered to DTC. <br /> 11. The information in this section concerning DTC 1nd DTC's book-entry system has <br /> been obtained from sources that Issuer believes to be reliable, but Issuer takes no responsibility <br /> for the accuracy thereof. <br /> F-3 <br />
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