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Agenda - 03-02-2006-8bOS
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Agenda - 03-02-2006-8bOS
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Last modified
9/2/2008 1:41:10 AM
Creation date
8/29/2008 9:12:22 AM
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BOCC
Date
3/2/2006
Document Type
Agenda
Agenda Item
8bOS
Document Relationships
Minutes - 20060302
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\Board of County Commissioners\Minutes - Approved\2000's\2006
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corresponding detail information from the County or the Trustee on each payable date in <br />accordance with their respective holdings shown on DTC's records. Payments by Direct and <br />Indirect Participants to Beneficial O«7ners will be governed by standing instructions and <br />customary practices, as is the case with securities held for the accounts of customers in bearer <br />form or registered in "street name,'' and will be the responsibility of such Direct and Indirect <br />Participants and not of DTC, the County or the Trustee, subject to any statutory or regulatory <br />requirements as may be in effect from time to time. Payment of principal and interest to DTC <br />(or such other nominee as lnay be requested by an authorized representative of DTC) is the <br />responsibility of the Paying Agent, disbursement of such payments to Direct Participants will be <br />the responsibility of DTC, and disbursement of such payments to the Beneficial Owners will be <br />the responsibility ofthe Direct and Indirect Participants. <br />DTC may discontinue providing its service as depository with respect to the 200b A <br />Certificates at any time by giving reasonable notice to the County or the Trustee. Under such <br />circumstances, in the event that a successor depository is not obtained, 2006A Certificate <br />certificates are required to be printed and delivered. The County may decide to discontinue the <br />system of book-entry-only transfers through DTC (or a successor securities depository). In that <br />event, 2006A Certificate certificates will be printed and delivered to DTC. <br />THE COUNTY AND THE TRUSTEE SHALL NOT HAVE ANY RESPONSIBILITI' <br />OR OBLIGATIONS TO THE DIRECT PARTICIPANTS, TO THE INDIRECT <br />PARTICIPANTS OR TO ANY BENEFICIAL OWNER WITH RESPECT TO (I} THE 2006 <br />CERTIFICATES; (II) THE ACCURACY OF ANY" RECORDS NI AINTAINED BY DTC, ANY" <br />DIRECT PARTICIPANT OR ANY" INDIRECT PARTICIPANT; (III) THE PAY"MENT BY" <br />DTC OR ANY DIRECT PARTICIPANT OR INDIRECT PARTICIPANT OF ANY AMOUNT <br />IN RESPECT OF THE PRINCIPAL OR INTEREST WITH RESPECT TO THE 2006A <br />CERTIFICATES; (I<<~) ANY NOTICE ~~4~HICH IS PERKIITTED OR REQLIIRED TO BE <br />GIVEN TO OWNERS BY DTC UNDER THE SERIES RESOLUTION; {V) THE SELECTION <br />BY" DTC OR ANY DIRECT OR INDIRECT PARTICIPANT OF ANY PERSON TO RECEIVE <br />PAYMENT IN THE EVENT OF A PARTI_~L REDE11~iPTION OF THE 2006 CERTIFICATES; <br />OR (VI) ANY" CONSENT GIVEN OR OTHER ACTION TAKEN BY DTC OR ITS <br />NOMINEE AS O~A'NER. <br />Any provision of the Trust Agreement or of the 2006A Certificates requiring physical <br />delivery of the 2006A Certificates will, with respect to any 2006A Certificates held under a <br />book-entry system, be deemed to be satisfied by a notation on the register maintained by the <br />Trustee that such 2006A Certificate s are subject to abook-entry system. <br />THE INFORMATION INCLUDED UNDER THIS CAPTION CONCERNING DTC <br />AND DTC'S BOOK-ENTRY SYSTEM HAS BEEN PROVIDED BY DTC. NO <br />REPRESENTATION IS MADE BY THE COUNTY" AS TO THE ACCURACY" OR <br />ADEQUACY OF SUCH INFORMATION PROVIDED BY DTC OR AS TO THE ABSENCE <br />OF l~~IATERIAL ADVERSE CHANGES IN SUCH INFORMATION SUBSEQUENT TO THE <br />DATE HEREOF. <br />The County and the Trustee cannot and do not give any assurances that DTC, Direct Participants <br />or Indirect Participants twill distribute to the Beneficial O«~~ners of the 2006A Certificates <br />C-883836v4 13361.00022 D-3 <br />
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