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. o,�,. � � � <br /> � <br /> 0 0 <br /> • � C ITY of ORONO <br /> ,� :, , �, <br /> , ti <br /> ti <br /> RESOLUTION OF THE CITY COUNCIL <br /> �L`9kEsII�4�G NO. � � � � . � .: <br /> the facsinule signature of the Mayor and by the facsinule signature of the City Clerk. The . <br /> � Bonds shall not be valid for any puipose until authenticated Uy the Bond Registrar. The <br /> Bond Registrar is authorized and directed to register the Bonds initially issued hereunder in <br /> � such names as the purchaser may direct. The Bonds initially issued hereunder shall be <br /> � � registered as of'December 29, 2004, and all Bonds issued in exchange therefor shall be � - - - �- - <br /> registered as of such date, or, if issued after the fust payment date, as of the most recent <br /> interest payment date on which interest was paid or duly provided for. When the Bonds shall <br /> have been so prepared and executed,they shall Ue delivered Uy the Finance Director in <br /> exchange for the purchase price and upon receipt of the signed legal opinion of Faegre & <br /> Benson, as Bond Counsel, and the purchaser shall not be required to see to the proper <br /> application of the proceeds. <br /> 6. (a) For purposes of this paragraph 6, the following tei-�ns sliall have <br /> ' the following meanings: <br /> � "Beneficial Owner" shall mean,whenever used with respect to a Bond, the � � ' <br /> person recorded as the Ueneficial owner of such Bond by a Participant on the records of such � <br /> Participant, or such person's suUrogee. <br /> � "Cede & Co." shall mean Cede & Co.,the nominee of DTC, and any successor , <br /> nominee of DTC with respect to the Bonds. � <br /> � "DTC" shall mean Depository Tnist Company New Yorlc,New York. <br /> "Participants" shall mean those broker-dealers,banks and other financial � <br /> institutions for which DTC holds Bonds as securities depository. <br /> "Representation Letter" shall mean the Blanket Letter of Representation from <br /> the City to DTC, heretofore approved by this Council. �� � � <br /> (b) The Bonds shall be initially issued as separate authenticated fully <br /> :.. _. ,. ,:_�� ���registered=b.onds;:;and one::$ond shall be issued in the principal,amount of each stated <br />, . .. .. : , �.�� _ . <br /> maturity of the Bonds. Upon initial issuance, the ownership of such Bonds shall be � <br /> ! registered in the bond register of the City kept by the Registrar in the name of Cede & Co., as . � � : . <br /> � nominee of DTC. The Registrar and the City may treat DTC (or its nominee) as the sole and <br /> � exclusive owner of the Bonds registered in its name for the purposes of payment of the <br /> 1� . <br /> � I: principal of or interest on the Bonds, selecting the Bonds or portions thereof to be redeemed, <br /> �. giving any notice permitted or required to Ue given to registered owners of Bonds under this <br /> , - <br /> Page 7 of 13 <br />