O-2005-2858 - Laserfiche WebLink

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to the Bank not later than five business days prior to the date of initial delivery, the Bank will, on the date of initial delivery, exchange the Obligations initially delivered for Obligations of authorized denominations, registered in accordance with the instructions in such request and the Ordinance. Section 3.2. Duties of Paying Agent. As Paying Agent, the Bank shall, provided adequate funds have been provided to it for such purpose by or on behalf of the City, timely pay on behalf of the City the principal of and interest on each Obligation in accordance with the provisions of the Ordinance. If the issue is to be Depository Trust Company (DTC) eligible, the Paying Agent will comply with all eligibility requirements as outlined and agreed upon in the eligibility questionnaire. Section 3.3. Duties of Registrar. The Bank shall provide for the proper registration of the Obligations and the timely exchange, replacement and registration of transfer of the Obligations in accordance with the provisions of the Ordinance. Any changes to Registered Owners for such exchange, replacement and registration shall be made by the Bank only in accordance with the Ordinance. The Bank will maintain the books of registration in accordance with the Ordinance and the Bank's general practices and procedures in effect from time to time. Section 3.4. Unauthenticated Obligations. The City shall provide an adequate inventory of unauthenticated Obligations to facilitate transfers. The Bank covenants that it will maintain such unauthenticated Obligations in safekeeping and will use reasonable care in maintaining such Obligations in safekeeping, which shall be not less than the care it maintains for debt securities of other government entities or corporations for which it serves as registrar, or which it maintains for its own bonds. Section 3.5. Reports. Upon request of the City, the Bank will provide the City reports which will describe in reasonable detail all transactions pertaining to the Obligations and the books of registration for the period of time specified by the City. The City may also inspect and make copies of the information in the books of registration and such other documents related to the Obligations and in the Bank's possession at any time the Bank is customarily open for business, provided that reasonable time is allowed the Bank to provide an up-to-date listing or to convert the information into written form. The Bank will not release or disclose the content of the books of registration to any person other than to, or at the written request of, an authorized officer or employee of the City, except upon receipt of a subpoena, court order or as otherwise required by law. Upon receipt of a subpoena, court order or other lawful request, the Bank will notify the City immediately so that the City may contest the subpoena, court order or other request if it so chooses. 3 HOU:25 19047.2