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Item 38 - Water Revenue Bonds
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06/04/2024
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Item 38 - Water Revenue Bonds
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Last modified
5/30/2024 4:20:09 PM
Creation date
5/29/2024 6:13:54 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Finance & Management Services
Item #
38
Date
6/4/2024
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THE AUTHORITY AND THE UNDERWRITER CANNOT AND DO NOT GIVE ANY <br />ASSURANCES THAT DTC, THE PARTICIPANTS OR OTHERS WILL DISTRIBUTE PAYMENTS OF <br />PRINCIPAL, INTEREST OR PREMIUM, IF ANY, WITH RESPECT TO THE BONDS PAID TO DTC OR ITS <br />NOMINEE AS THE REGISTERED OWNER, OR WILL DISTRIBUTE ANY REDEMPTION NOTICES OR <br />OTHER NOTICES, TO THE BENEFICIAL OWNERS, OR THAT THEY WILL DO SO ON A TIMELY BASIS <br />OR WILL SERVE AND ACT IN THE MANNER DESCRIBED IN THIS OFFICIAL STATEMENT. THE <br />AUTHORITY AND THE UNDERWRITER ARE NOT RESPONSIBLE OR LIABLE FOR THE FAILURE OF <br />DTC OR ANY PARTICIPANT TO MAKE ANY PAYMENT OR GIVE ANY NOTICE TO A BENEFICIAL <br />OWNER WITH RESPECT TO THE BONDS OR AN ERROR OR DELAY RELATING THERETO. <br />The information in this section concerning DTC and DTC's book -entry system has been obtained from <br />sources that the Authority deems reliable, but the Authority takes no responsibility for the accuracy thereof. <br />DTC may discontinue providing its services as securities depository with respect to the Bonds at any time <br />by giving reasonable notice to the Authority or the Trustee. Under such circumstances, in the event that a <br />successor securities depository is not obtained, Bonds are required to be printed and delivered as described in the <br />Indenture. <br />The Authority may decide to discontinue use of the system of book -entry transfers through DTC (or a <br />successor securities depository). In that event, Bonds will be printed and delivered as described in the Indenture <br />and payment of interest to each Owner who owns of record $1,000,000 or more in aggregate principal amount of <br />Bonds may be made to such Owner by wire transfer to such wire address within the United States that such Owner <br />may request in writing for all Interest Payment Dates following the 15th day after the Trustee's receipt of such <br />request. <br />E-3 <br />
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