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2003-058
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2003-058
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Last modified
3/30/2017 12:02:31 PM
Creation date
9/30/2015 5:03:27 PM
Metadata
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Resolutions
Resolution Number
2003-058
Approved Date
05/20/2003
Resolution Type
Bonds
Entity Name
William R. Hough & Co.
Subject
General Obligation Refunding Bonds
Resolution 95-63
Archived Roll/Disk#
2746
Supplemental fields
SmeadsoftID
2410
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The information in this section concerning DTC and DTC's book -entry only system has been <br />obtained from DTC. Neither the County, the Registrar nor the Underwriter make any representation or <br />warranty regarding the accuracy or completeness thereof. <br />SO LONG AS CEDE & CO., AS NOMINEE FOR DTC, IS THE SOLE BONDHOLDER, <br />THE COUNTY AND THE REGISTRAR SHALL TREAT CEDE & CO. AS THE ONLY OWNER <br />OF THE BONDS FORALLPURPOSES UNDER THE RESOLUTION INCLUDING(1) RECEIPT <br />OF ALL PRINCIPAL OF AND INTEREST ON THE BONDS; (2) RECEIPT OF NOTICES; (3) <br />VOTING; AND (4) REQUESTING OR DIRECTING THE COUNTY AND THE REGISTRAR TO <br />TAKE OR NOT TO TAKE, OR CONSENTING TO, CERTAIN ACTIONS UNDER SUCH <br />RESOLUTION. THE COUNTY AND THE PAYING AGENT HAVE NO RESPONSIBILITY OR <br />OBLIGATION TO THE PARTICIPANTS OR THE BENEFICIAL OWNERS WITH RESPECT TO <br />(A) THE ACCURACY OF ANY RECORDS MAINTAINED BY DTC OR ANY PARTICIPANT; <br />(B) THE PAYMENT BY ANY PARTICIPANT OF ANY AMOUNT DUE TO ANY BENEFICIAL <br />OWNER IN RESPECT OF THE PRINCIPAL OF AND INTEREST ON THE BONDS; (C) THE <br />DELIVERY OR TIMELINESS OF DELIVERY BY ANY PARTICIPANT OF ANY NOTICE TO <br />ANY BENEFICIAL OWNER WHICH IS REQUIRED OR PERMITTED UNDER THE TERMS OF <br />THE RESOLUTION TO BE GIVEN TO BONDHOLDERS; (D) THE SELECTION BY DTC, OR <br />ANY DTC PARTICIPANT OR INDIRECT PARTICIPANT OF ANY BENEFICIAL OWNER, TO <br />RECEIVE PAYMENT IN THE EVENT OF A PARTIAL REDEMPTION OF THE BONDS; OR (E) <br />OTHER ACTION TAKEN BY DTC OR CEDE & CO., AS BONDHOLDER. <br />Discontinuance of Securities Depository <br />DTC may discontinue providing its services withrespect to the Bonds at any time by giving notice <br />to the County and discharging its responsibilities withrespect thereto under applicable law, or the County <br />may terminate its participation in the system of book -entry transfers through DTC at any time. In the event <br />that the DTC book -entry only system is discontinued and it is not replacedwithanotherbook-entrysystem, <br />the following provisions will apply: principal of the Bonds will be payable in lawful money of the United <br />States of America at the principal office of the Registrar. Interest on the Bonds will be payable on each <br />January 1 and July 1 by check or draft mailed to the respective addresses ofthe RegisteredOwners thereof <br />as shown on the registration books ofthe County maintained by the Registrar as ofthe record date therefor <br />as set forth in the Resolution; provided, however, that the registered owner of any Bond in the principal <br />amount of $1,000,000 or more may, uponwrittenrequest made to the Registrar and at the expense of such <br />registered owner, direct that payment of interest thereon be made by wire transfer or any other medium <br />acceptable to the County and to such registered owner, all as more specifically provided in the Resolution. <br />The transfer of the Bonds will be registrable and they may be exchanged at the principal office of the <br />Registrar, upon the payment of any taxes, fees or other governmental charges required to be paid with <br />respect to such transfer or exchange. <br />5 <br />
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