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2000 030 Ordinance
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2000 030 Ordinance
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Last modified
11/19/2018 4:09:21 PM
Creation date
9/10/2018 6:35:45 AM
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Template:
Legislation-Meeting Minutes
Document Type
Ordinance
Number
030
Date
8/22/2000
Year
2000
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", <br />~. Conveyance of notices and other communications by DTC to Direct Participants, by Direct <br />Participants to Indirect•Participants, and by Direct Participants and Indirect Participants to Beneficial <br />Owners will be Goveiaed by arrangements among them, subject to any statutory or regulatory <br />requirements as may be in effect from time to time. <br />[Beneficial Owners of the Securities may wish to take certain steps to augment the transmission to <br />them of notices of significant events with respect to the Securities, such as redemptions, tenders, <br />defaults, and proposed amendments to the Security documents. Beneficial Owners of Securities may <br />wish to ascertain that the nominee holding the Securities for their benefit has agreed to obtain and <br />transmit notices to Beneficial Owners, or in the alternative, Beneficial Owners may wish to provide their <br />names and addresses to the registrar and request that copies of notices be provided directly to them.] <br />[6. Redemption notices shall be sent to DTC. If less than all of the Securities within an issue are being <br />redeemed, DTC's practice is to determine by lot the amount of the interest of each Direct Participant in <br />such issue to be redeemed.) <br />i. Neither DTC nor Cede & Co. (nor such other DTC nominee) will consent or vote with respect to <br />Securities. Under its usual procedures, DTC mails an Omnibus Proxy to Issuer as soon as possible after <br />the record date. The Omnibus Proxy assigns Cede & Co.'s consenting or wti~g rights to those Direct <br />Participants to whose accounts Securities are credited on the record date (identified in a listing attached <br />to the Omnibus Prozy). <br />8. Principal and interest payments on the Securities will be made to Cede & Co. or such other <br />nominee as may be requested by an authorized representative of DTC. DTC's practice is to credit <br />Direct Participants' accounts upon DTC's receipt of funds and corresponding detail information from <br />Issuer or Agent, on payable date in accordance with their respective holdings shown on DTC's records. <br />Payments by Participants to Beneficial Owners will be Governed by standing instructions and customary <br />practices, as is 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 (nor its nominee), <br />Agent, or Issuer, subject to any statutory- or regulatory requirements as may be in effect from time to <br />time. Payment of principal and interest to Cede & Co. (or such other nominee as may be requested by <br />an authorized representative of DTC) is the responsibility of Issuer or Agent, disbursement of such <br />payments to Direct Participants is the responsibility of DTC, and disbursement of "such payments to <br />Beneficial Owners is the responsibility of Direct and Indirect Participants. <br />[9. A Beneficial Owner shall give notice to elect to have its Securities purchased or tendered, through <br />its Participant, to [Tender/Remarketing] Agent, and shaII effect delivery of such Securities by causing the <br />Direct Participant to transfer the Participant's interest in the Securities, on DTC's records, to <br />[Tender/Remariceting] Agent The requirement for physical delivery of Securities in connection with an <br />optional tender or a mandatory purchase will be deemed satisfied when the ownership rights in the <br />Securities are transferred by Direct Participants on DTC's records and followed by a book-entry credit <br />of tendered securities to [Tender/Remarketing] Agent's DTC account] <br />I0. DTC may discontinue providing its services as securities depository with respect to the Securities <br />at any time by giving reasonable notice to Issuer or Agent Under such oirc~rm_~~ces, in the event that a <br />successor securities depository is not obtained, Security certificates are required to be printed and <br />delivered <br />11. Issuer may decide to discontinue use of the system of book-entry transfers through DTC (or a <br />successor securities depository). In that event, Security certificates will be printed and delivered <br />I~. The information in this section concerning DTC and DTC's book-entry system has been obtained <br />from sources that Issuer believes to be reliable, but Issuer takes no responsibility for the accuracy <br />thereof. <br />
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