Resolution No. 4481 - Laserfiche WebLink

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1.4. Enter into an agreement to provide continuing financial disclosure for the benefit of the owners of the Bonds in accordance with the applicable rules of the United States Securities and Exchange Commission; 1.5. issue, sell and deliver the Bonds to the successful bidder and report the results of the sale to the City Council; 1.6 execute and deliver any certificates or other documents, and take any other action, including the appointment of a paying agent, which is desirable in order to issue, sell and deliver the Bonds in accordance with this Resolution. Section 2. Security. The City pledges its full faith and credit to pay the Bonds. The City shall levy annually, as provided by law, a direct ad valorem tax upon all of the taxable property within the City, without limit as to rate or amount, in sufficient amount, after taking into consideration discounts taken and delinquencies that may occur in the payment of such taxes, to pay the Bonds promptly as they mature, and the City covenants with the owners of its Bonds to levy such a tax annually during each year that any of the Bonds, or Bonds issued to refund them, are outstanding. Section 3. Bond Book-Entry Only Form. The Bonds (except for any Bond with a denomination of less than $5000) shall be initially issued in book-entry only form, with no physical Bonds being made available to Bondowners, in accordance with the Blanket Letter of Representations between the City and The Depository Trust Company, New York, New York ("DTC") for the Bonds, in form and substance satisfactory to DTC. So long as the Bonds are in book-entry only form: 3. 1. Ownership of the Bonds shall be recorded through entries on the books of banks and broker-dealer participants and correspondents that are related to entries on the DTC system. Each maturity of the Bonds shall be initially issued in the form of a global Bond for each maturity. Each global Bond shall be registered in the name of Cede & Co. as nominee ofDTC as the owner of the Bond, and such global Bonds shall be lodged with DTC until early redemption or maturity of the Bond issue. 3.2. The paying agent and registrar appointed by the City Official (the "Paying Agent") shall remit payment for the maturing principal and interest on the Bonds to DTC as owner of the Bonds for distribution by the nominee to the beneficial owners by recorded entry on the books ofDTC participants and correspondents. 3.3. In the event: the Bonds, or 3.3. 1. DTC determines not to continue to act as securities depository for Page 2 - Resolution J :\HWR \CITIES\EUGENE\G096\G096RES.DOC