Resolution No. 4482 - Laserfiche WebLink

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3.3.1. DTC determines not to continue to act as securities depository for the Bonds, or 3.3.2. the City determines that DTC shall no longer so act; then the City will discontinue maintaining the Bonds in the book-entry only form with DTC. 3.4. Notwithstanding the provisions regarding exchange and transfer of Bonds set forth in this resolution, while the Bonds are in book -entry only form they may not be transferred or exchanged on the registration books maintained by the Paying Agent except: 3.4.1. to any successor depository designated by the City as provided below; 3.4.2. to any successor nominee designated by a depository; or 3.4.3. if the City elects to discontinue maintaining the Bonds in book-entry only form, the City shall cause the Paying Agent to authenticate and deliver replacement physical Bonds in fully registered form in authorized denominations in the names of the beneficial owners or their nominees; thereafter the provisions set forth in Section 5, below, regarding registration, transfer and exchange of Bonds shall apply. 3.5. Upon the resignation of any institution acting as depository hereunder, or if the City determines that continuation of any institution in the role of depository is not in the best interests of the beneficial owners, the City shall attempt to identify another institution qualified to act as depository hereunder or shall discontinue maintaining the Bonds in book -entry only form by resolution or ordinance. If the City is unable to identify such successor depository prior to the effective date of the resignation, the City shall discontinue maintaining the Bonds in book-entry only form as provided above. 3.6. With respect to Bonds registered in the registration books maintained by the Paying Agent in the name of the nominee of DTC, the City and the Paying Agent shall have no responsibility or obligation to any participant or correspondent of DTC or to any beneficial owner on behalf of which such participants or correspondents act as agent for the beneficial owner with respect to: 3.6.1. the accuracy of the records ofDTC, the nominee or any participant or correspondent with respect to any beneficial owner's interest in the Bonds; 3.6.2. the delivery to any participant or correspondent or any other person of any notice with respect to the Bonds, including any notice of prepayment; 3.6.3. the selection by DTC of the beneficial interest in Bonds to be redeemed prior to maturity; or 3.6.4. the payment to any participant, correspondent, or any other person other than the registered owner of the Bonds as shown in the registration books maintained by the Paying Agent, of any amount with respect to principal or interest on the Bonds. Page 3 - Resolution J:\HWR\CITIES\EUGENE\LTDTAX.96\LTAXRE~i~~~