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7 <br />The City will not be responsible or liable for sending transaction statements or for <br />maintaining, supervising or reviewing records maintained by DTC, its participants or <br />persons acting through such participants or for transmitting payments to, communicating <br />with, notifying, or otherwise dealing with any beneficial owner of the Bonds. So long as <br />the Bonds are in book-entry only form, the Director of Finance will serve as Registrar <br />and Paying Agent for the Bonds. The City reserves the right to designate a successor <br />Registrar and Paying Agent for the Bonds if the Bonds at any time cease to be in book- <br />entry only form. <br />So long as the Bonds are in book-entry-only form, any notice of redemption will be given <br />only to DTC or its nominee. The City shall not be responsible for providing any <br />beneficial owner of the Bonds any notice of redemption. <br />c. The Bonds shall be executed, for and on behalf of the City, by the manual or <br />facsimile signature of the Mayor and the City Treasurer of the City and shall have a <br />facsimile of the corporate seal of the City imprinted thereon, attested by the manual or <br />facsimile signature of the Clerk of Council of the City. <br /> The City Manager shall direct the Registrar for the Bonds of a given series to <br />authenticate such Bonds and no such Bond shall be valid and obligatory for any purpose <br />unless and until the certificate of authentication endorsed on such Bond shall have been <br />manually executed by an authorized signator of the Registrar. Upon the authentication of <br />any Bonds, the Registrar shall insert in the certificate of authentication the date as of <br />which such Bonds are authenticated as follows: (i) if the Bond is authenticated prior to <br />the first interest payment date, the certificate shall be dated as of the date of the initial <br />issuance and delivery of the Bonds of the series of which such Bond is one, (ii) if the <br />Bond is authenticated upon an interest payment date, the certificate shall be dated as of <br />such interest payment date, (iii) if the Bond is authenticated after the fifteenth (15th) day <br />of the calendar month next preceding an interest payment date and prior to such <br />following interest payment date, the certificate shall be dated as of such following interest <br />payment date and (iv) in all other instances the certificate shall be dated as of the actual <br />date upon which the Bond is authenticated by the Registrar. <br /> The execution and authentication of the Bonds in the manner above set forth is <br />adopted as a due and sufficient authentication of the Bonds. <br />d. The principal of and interest on the Bonds shall be payable in such coin or <br />currency of the United States of America as at the respective dates of payment thereof is <br />legal tender for public and private debts. <br /> Principal on the Bonds of a given series shall be payable upon presentation and <br />surrender thereof at the office of the Registrar. <br /> Interest on the Bonds shall be payable by check mailed by the Registrar to the <br />registered owners of such Bonds at their respective addresses as such addresses appear on <br />the books of registry kept pursuant to the provisions of this Paragraph 4. <br /> At all times during which any Bond of any series remains outstanding and unpaid, <br />the Registrar shall keep or cause to be kept, at its office, books of registry for the <br />registration, exchange and transfer of Bonds of such series. Upon presentation of a Bond <br />or Bonds at the office of the Registrar, the Registrar, under such reasonable regulations as <br />the Registrar may prescribe, shall register, exchange or transfer, or cause to be registered, <br />exchanged or transferred, such Bond or Bonds on the books of registry as hereinbefore <br />set forth. <br /> The books of registry shall at all times be open for inspection by the City or any <br />duly authorized officer thereof. <br /> Any Bond may be exchanged at the office of the Registrar for a like aggregate <br />principal amount of such Bonds in other authorized principal sums and of the same <br />series, interest rate and maturity. <br /> Any Bond of any series may, in accordance with its terms, be transferred upon the <br />books of registry by the person in whose name it is registered, in person or by his duly <br /> <br />