Resolution No. 4484 - Laserfiche WebLink

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14.3. With respect to 1996 Series N Bonds registered in the registration books maintained by the Paying Agent in the name of the Nominee of the Depository, the City and the Paying Agent shall have no responsibility or obligation to any participant or correspondent of the Depository or to any Registered Owner on behalf of which such participants or correspondents act as agent for the Owner with respect to: 14.3.1. the accuracy of the records of the Depository, the Nominee or any participant or correspondent with respect to any ownership interest in the 1996 Series N Bonds; 14.3.2. the delivery to any participant or correspondent or any other person, other than an Owner as shown in the registration books maintained by the Paying Agent, of any notice with respect to the 1996 Series N Bonds, including any notice of prepayment; 14.3.3. the selection by the Depository of the beneficial interest in 1996 Series N Bonds to be redeemed prior to maturity~ or 14.3.4. the payment to any participant, correspondent, or any other person other than the Owner of the 1996 Series N Bonds as shown in the registration books maintained by the Paying Agent, of any amount with respect to principal or interest on the 1996 Series N Bonds. 14.4. Notwithstanding the book-entry-only system, the City may treat and consider the Registered Owner in whose name each 1996 Series N Bond is registered in the registration books maintained by the Paying Agent as the Owner and absolute owner of such 1996 Series N Bond for the purpose of payment of principal and interest with respect to such 1996 Series N Bond, or for the purpose of giving notices of redemption and other matters with respect to such 1996 Series N Bond, or for the purpose of registering transfers with respect to such 1996 Series N Bond, or for all other purposes whatsoever. The City shall payor cause to be paid all principal and interest on the 1996 Series N Bonds only to or upon the order of the Registered Owner, as shown in the registration books maintained by the Paying Agent, or their respective attorneys duly authorized in writing, and all such payments shall be valid and effective to fully satisfy and discharge the City's obligation with respect to payment thereof to the extent of the sum or sums so paid. 14.5. Upon delivery by the Depository to the City and to the Owner of written notice to the effect that the Depository has determined to substitute a new nominee in place of the Nominee, then the word "Nominee" in this Resolution shall refer to such new nominee of the Depository, and upon receipt of such notice, the City shall promptly deliver a copy thereof to the Paying Agent. The Depository shall tender the 1996 Series N Bonds it holds to the Paying Agent for reregistration. Page 10 - Resolution J :\HWR \CITIES\EUGENE\SAB96\SAB96RES.DOC