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Agenda 10-01-19 Item 6-a - Adoption of the Final Financing Resolution Authorizing the Issuance of $37,000,000 in Installment Purchase Financing for Various CIP Projects Including Refinancing County Debt
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Agenda 10-01-19 Item 6-a - Adoption of the Final Financing Resolution Authorizing the Issuance of $37,000,000 in Installment Purchase Financing for Various CIP Projects Including Refinancing County Debt
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9/26/2019 1:13:08 PM
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BOCC
Date
10/1/2019
Meeting Type
Regular Meeting
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Agenda
Agenda Item
6-a
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Agenda 10-01-19 Regular Board Meeting
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93 <br /> APPENDIX E <br /> BOOK-ENTRY ONLY SYSTEM <br /> Beneficial ownership interests in the 2019B Bonds will be available only in a book-entry system. <br /> The actual purchasers of the 2019B Bonds (the`Beneficial Owners")will not receive physical certificates <br /> representing their interests in such 2019B Bonds purchased. So long as The Depository Trust Company <br /> ("DTC"),New York,New York, or its nominee is the registered owner of the 2019B Bonds,references in <br /> this Official Statement to the Owners of the 2019B Bonds shall mean DTC or its nominee and shall not <br /> mean the Beneficial Owners of the 2019B Bonds. The Trust Agreement contains provisions applicable to <br /> periods when DTC or its nominee is not the registered owner. <br /> The following description of DTC, its procedures and record keeping with respect to beneficial <br /> ownership interests in the 2019B Bonds, payment of interest and other payments with respect to the <br /> 2019B Bonds to DTC Participants or to beneficial owners, confirmation and transfer of beneficial <br /> ownership interests in the 2019B Bonds and/or other transactions by and between DTC,DTC Participants <br /> and beneficial owners is based on information furnished by DTC. <br /> DTC will act as securities depository for the 2019B Bonds. The 2019B Bonds will be registered <br /> in the name of Cede & Co. (DTC's partnership nominee) or such other name as may be requested by an <br /> authorized representative of DTC. One fully-registered certificate in the aggregate principal amount of <br /> each maturity of the 2019B Bonds will be deposited with DTC or its designee. So long as Cede & Co. is <br /> the registered owner of the 2019B Bonds, as DTC's Partnership nominee, reference herein to the Owners <br /> or registered owners of the 2019B Bonds shall mean Cede & Co. and shall not mean the beneficial <br /> owners of the 2019B Bonds. <br /> DTC, the world's largest securities depository, is a limited-purpose trust company organized <br /> under the New York Banking Law, a "banking organization" within the meaning of the New York <br /> Banking Law, a member of the Federal Reserve System, a "clearing corporation" within the meaning of <br /> the New York Uniform Commercial Code and a "clearing agency" registered pursuant to the provisions <br /> of Section 17A of the Securities Exchange Act of 1934, as amended. DTC holds and provides asset <br /> servicing for over 3.5 million issues of U.S. and non-U.S. equity issues, corporate and municipal debt <br /> issues, and money market instruments from over 100 countries that DTC's participants ("Direct <br /> Participants") deposit with DTC. DTC also facilitates the post-trade settlement among Direct Participants <br /> of sales and other securities transactions in deposited securities through electronic computerized book- <br /> entry transfers and pledges between Direct Participants' accounts. This eliminates the need for physical <br /> movement of securities certificates. Direct Participants include both U.S. and non-U.S. securities brokers <br /> and dealers, banks, trust companies, clearing corporations and certain other organizations. DTC is a <br /> wholly-owned subsidiary of The Depository Trust & Clearing Corporation ("DTCC"). DTCC, in turn, is <br /> owned by a number of Direct Participants of DTC and Members of the National Securities Clearing <br /> Corporation, Fixed Income Clearing Corporation and Emerging Markets Clearing Corporation as well as <br /> by the New York Stock Exchange, Inc., the American Stock Exchange, and the National Association of <br /> Securities Dealers, Inc. Access to the DTC system is also available to others such as both U.S. and non- <br /> U.S. securities brokers and dealers, banks trust companies, and clearing corporations that clear through or <br /> maintain a custodial relationship with a Direct Participant, either directly or indirectly (the "Indirect <br /> Participants" and collectively with the Direct Participants, the "Participants"). DTC has a Standard & <br /> Poor's rating of AA+. The DTC rules applicable to its Participants are on file with the Securities and <br /> Exchange Commission. More information about DTC can be found at www.dtcc.com. <br /> Purchases of 2019B Bonds under the DTC system must be made by or through Direct <br /> Participants, which will receive a credit for 2019B Bonds on DTC's records. The ownership interest of <br /> E-1 <br />
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