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or special record date, as the case may be, shown for the Nominee in the bond register of the
<br />Trustee.
<br />(b) With respect to Book -Entry Bonds, the City, the Authority and the Trustee
<br />shall have no responsibility or obligation to any Participant or to any person on behalf of which
<br />such a Participant holds an interest in such Book -Entry Bonds. Without limiting the immediately
<br />preceding sentence, the City, the Authority and the Trustee shall have no responsibility or
<br />obligation with respect to (i) the accuracy of the records of the Depository, the Nominee, or any
<br />Participant with respect to any ownership interest in Book -Entry Bonds, (ii) the delivery to any
<br />Participant or any other person, other than an Owner as shown in the bond register, of any notice
<br />with respect to Book -Entry Bonds, including any notice of prepayment, (iii) the selection by the
<br />Depository and its Participants of the beneficial interests in Book -Entry Bonds to be redeemed in
<br />the event the Authority redeems Bonds in part, (iv) the payment to any Participant or any other
<br />person, other than an Owner as shown in the bond register, of any amount with respect to
<br />principal, premium, if any, or interest evidenced and represented by Book -Entry Bonds, or (v)
<br />any consent given or other action taken by the Depository as Owner.
<br />(c) The City, the Authority and the Trustee may treat and consider the person
<br />in whose name each Book -Entry Bond is registered in the bond register as the absolute Owner of
<br />such Book -Entry Bond for the purpose of payment of principal, redemption premium, if any, and
<br />interest with respect to such Bond, for the purpose of selecting any Bonds, or portions thereof to
<br />be redeemed, for the purpose of giving notices of redemption and other matters with respect to
<br />such Bond, for the purpose of registering transfers with respect to such Bond, for the purpose of
<br />obtaining any consent or other action to be taken by Owners and for all other purposes
<br />whatsoever and the City, the Authority and the Trustee shall not be affected by any notice to the
<br />contrary.
<br />(d) In the event of a redemption or any other early withdrawal (e.g., tenders
<br />made and accepted in response to the Trustee's invitation at the direction of the Authority)
<br />necessitating a reduction in aggregate principal amount of Bonds Outstanding, or a redemption
<br />of part of the Bonds Outstanding, the Depository, in its discretion, (i) may request the Trustee to
<br />execute and deliver a new Bond or (ii) if DTC is the sole owner of the Bonds, shall make an
<br />appropriate notation on the Bond indicating the date and amounts of such reduction in principal
<br />except in the case of final maturity, in which case the Bond must be presented to the Trustee
<br />prior to payment.
<br />(e) The Trustee shall pay all principal, premium, if any, and interest
<br />evidenced and represented by the Bonds only to the respective Owner, as shown in the bond
<br />register, or his or her attorney duly authorized in writing, and all such payments shall be valid
<br />and effective to fully satisfy and discharge the City's obligations with respect to payment of
<br />principal, redemption premium, if any, and interest evidenced and represented by the Bonds to
<br />the extent of the surn or sums so paid. No person other than an Owner, as shown in the bond
<br />register, shall receive a Bond evidencing the obligation to make payments of principal,
<br />redemption premium, if any, and interest evidenced and represented by the Bonds. Upon delivery
<br />by the Depository to the Owner, the Trustee, the Authority and the City of written notice to the
<br />effect that the Depository has determined to substitute a new nominee in place of the Nominee,
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