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default, then that Bond is payable as to interest from the date to which interest has <br /> been paid. Principal, interest and any redemption premium for all Bonds are <br /> payable in lawful money of the United States of America. <br /> Section 14.02. Book-Entry-Only Form. (a) All Bonds will be issued by <br /> means of a book-entry system, with one certificate for each maturity of each series <br /> of Bonds immobilized at DTC and not available for distribution to the public. Bonds <br /> registered in the name of DTC or its nominee may be held in custody by the Trustee <br /> in lieu of immobilization at DTC if permitted under DTC's rules and procedures. <br /> The parties agree that transfer of beneficial ownership interests in the Bonds <br /> in the principal amounts of $5,000 and integral multiples of $5,000 above the <br /> minimum will be effected on the records of DTC and its participants pursuant to <br /> rules and procedures established by DTC and its participants. Principal, interest and <br /> any redemption premium on the Bonds are payable to DTC or its nominee as <br /> registered owner of the Bonds. The parties agree that transfer of principal, interest <br /> and any redemption premium to DTC participants will be DTC's responsibility, and <br /> that transfer of principal, interest and any redemption premium on the Bonds to <br /> beneficial owners of the Bonds by DTC participants will be the responsibility of <br /> those participants and other nominees of beneficial owners. Neither the Trustee nor <br /> the County will be responsible or liable for transfer of payments beyond DTC or for <br /> maintaining, supervising or reviewing the records maintained by DTC, its <br /> participants, or persons acting through those participants. <br /> (b) If (i) DTC determines not to continue to act as securities depository for <br /> the Bonds or (ii) the County directs, the County and the Trustee will arrange to <br /> discontinue the book-entry system with DTC. If the County designates an alternate <br /> qualified securities depository to replace DTC, that depository will replace DTC and <br /> all references to DTC in this Agreement will be deemed references to the alternate <br /> depository. If the County does not designate another depository to replace DTC, the <br /> County must deliver fully registered Bonds as replacements for Bonds in book-entry <br /> form for the Trustee's authentication and delivery. <br /> (c) In connection with any delivery of certificated Bonds, the County or the <br /> Owner shall provide, or cause to be provided, to the Trustee all information <br /> necessary to allow the Trustee to comply with any applicate tax reporting <br /> obligations, including without limitation any cost basis reporting obligations under <br /> Section 6045 of the Internal Revenue Code. The Trustee may rely on the information <br /> 53 <br />