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APPENDIX F <br />THE BOOK -ENTRY SYSTEM <br />The following description under the heading "Procedures and Record Keeping" with respect to <br />beneficial ownership interests in the Bonds, payment of principal of and interest on the Bonds to Direct <br />Participants, Indirect Participants or Beneficial Owners (as such terms are defined below) of the Bonds, <br />confirmation and transfer of beneficial ownership interests in the Bonds and other Bond - related transactions by <br />and between DTC, Direct Participants, Indirect Participants and Beneficial Owners of the Bonds is based solely <br />on information furnished by DTC to the City which the City believes to be reliable, but the City and the <br />Underwriter do not and cannot make any independent representations concerning these matters and do not take <br />responsibility for the accuracy or completeness thereof. Neither the DTC, Direct Participants, Indirect <br />Participants nor the Beneficial Owners should rely on the foregoing information with respect to such matters, <br />but should instead confirm the same with DTC or the DTC Participants, as the case may be. <br />Procedures and Record Keeping <br />The Depository Trust Company ( "DTC "), New York, NY, will act as securities depository for the <br />Bonds. The Bonds will be issued as fully- registered securities registered in the name of Cede & Co. (DTC's <br />partnership nominee) or such other name as may be requested by an authorized representative of DTC. One <br />(ally- registered Bond will be issued for each maturity of the Bonds, each in the aggregate principal amount of <br />such maturity, and will be deposited with DTC. <br />DTC, the world's largest securities depository, is a limited- purpose trust company organized under the <br />New York Banking Law, a "banking organization" within the meaning of the New York Banking Law, a <br />member of the Federal Reserve System, a "clearing corporation" within the meaning of the New York Uniform <br />Commercial Code, and a "clearing agency" registered pursuant to the provisions of Section 17A of the <br />Securities Exchange Act of 1934. DTC holds and provides asset servicing for over 3.6 million issues of U.S. and <br />non -U.S. equity issues, corporate and municipal debt issues, and money market instruments (from over 100 <br />countries) that DTC's participants ( "Direct Participants ") deposit with DTC. DTC also facilitates the post -trade <br />settlement among Direct Participants of sales and other securities transactions in deposited securities, through <br />electronic computerized book -entry transfers and pledges between Direct Participants' accounts. This eliminates <br />the need for physical movement of securities certificates. Direct Participants include both U.S. and non -U.S. <br />securities brokers and dealers, banks, trust companies, clearing corporations, and certain other organizations. <br />DTC is a wholly -owned subsidiary of The Depository Trust & Clearing Corporation ( "DTCC "). DTCC is the <br />holding company for DTC, National Securities Clearing Corporation and Fixed Income Clearing Corporation, <br />all of which are registered clearing agencies. DTCC is owned by the users of its regulated subsidiaries. Access <br />to the DTC system is also available to others such as both U.S. and non -U.S. securities brokers and dealers, <br />banks, trust companies and clearing corporations that clear through or maintain a custodial relationship with a <br />Direct Participant, either directly or indirectly ( "Indirect Participants "). DTC has a Standard & Poor's rating of <br />AA +. The DTC Rules applicable to its Participants are on file with the Securities and Exchange Commission. <br />More information about DTC can be found at www.dtce.com and www.dtc.org. <br />Purchases of Bonds under the DTC system must be made by or through Direct Participants, which will <br />receive a credit for the Bonds on DTC's records. The ownership interest of each actual purchaser of each Bond <br />(the "Beneficial Owner ") is in turn to be recorded on the Direct and Indirect Participants' records. Beneficial <br />Owners will not receive written confirmation from DTC of their purchase. Beneficial Owners are, however, <br />expected to receive written confirmations providing details of the transaction, as well as periodic statements of <br />their holdings, from the Direct or Indirect Participant through which the Beneficial Owner entered into the <br />transaction. Transfers of ownership interests in the Bonds are to be accomplished by entries made on the books <br />of Direct and Indirect Participants acting on behalf of Beneficial Owners. Beneficial Owners will not receive <br />F -1 <br />55B -117 <br />