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Transfers of ownership interest in the Notes will be accomplished by book entries made <br />by DTC and the DTC Participants who act on behalf of the Beneficial Owners. Beneficial <br />Owners will not receive certificates representing their ownership interest in the Notes, except as <br />specifically provided in this Ordinance. Principal of and interest on the Notes will be paid when <br />due by the City to DTC, to the DTC Participants and thereafter paid by the DTC Participants to <br />the Beneficial Owners. <br /> <br /> For every transfer and exchange of the Notes, the Beneficial Owner may be charged a <br />sum sufficient to cover any tax, fee or other governmental charge that may be imposed in relation <br />thereto. <br /> <br /> DTC may determine to discontinue providing its services with respect to the Notes at any <br />time by giving notice to the City and discharging its responsibilities with respect thereto under <br />applicable law. Under such circumstances (if there is no successor securities depository), the <br />City is obligated to deliver Note certificates as described in the Ordinance. <br /> <br /> The City may determine not to continue the system of book-entry transfer through DTC <br />(or a successor securities depository). In such event, Beneficial Owners may elect to receive <br />Note certificates as described in this Ordinance, which certificates will be subject to the transfer <br />and exchange requirements set forth in this Ordinance. <br /> <br /> The Notes shall be printed, lithographed or typewritten and shall be substantially in the <br />form set forth below, with such appropriate variations, omissions and insertions as are permitted <br />or required by this Ordinance, including such variations, insertions and omissions as shall be <br />necessary to issue the Notes under a system of book-entry for recording the ownership and <br />transfer of ownership of rights to receive payments of principal of and interest on the Notes and <br />may have endorsed thereon such legends or text as may be necessary or appropriate to conform <br />to any applicable rules and regulations of any governmental authority or any usage or <br />requirement of law with respect thereto. <br /> <br /> If any principal of, or interest on, the Notes is not paid when due (whether at maturity, by <br />acceleration or call for redemption, or otherwise), then, to the extent permitted by law, the <br />overdue installments of principal shall bear interest until paid at the same rate as set forth in the <br />Notes. <br /> <br /> The Notes shall be signed by the facsimile or manual signature of the Mayor. The <br />facsimile of the City's seal shall be printed thereon or manually impressed thereon and attested <br />by the facsimile or manual signature of the Clerk. In case any officer whose signature or <br />facsimile of whose signature shall appear on the Notes shall cease to be such officer before <br />delivery of the Notes, such signature or facsimile shall nevertheless be valid and sufficient for all <br />purposes, the same as if he remained in office until such .delivery. The Notes may bear the <br />facsimile signature of or may be signed by such persons as at the actual time of the execution <br /> <br /> <br />