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<br /> <br />amount of the Bonds of such stated maturity and registered in the name of the Securities <br /> <br />Depository Nominee (as defined in the Resolution), a nominee of the Securities Depository (as <br /> <br />defined in the Resolution), is being issued and required to be. deposited with the Securities <br /> <br />Depository and immobilized in its custody. The book-entry system of the Securities Depository <br /> <br />will evidence positions held in the Bonds by the Securities Depository's participants, with <br /> <br />beneficial ownership of the Bonds in the principal amount of $5,000 or any whole multiple <br /> <br />thereof being evidenced in the records of such participants. Transfers of beneficial ownership <br /> <br />will be effected on the records of the Securities Depository and its participants pursuant to rules <br /> <br />and procedures established by the Securities Depository and its participants. <br /> <br />The County and the Bond Registrar will recognize the Securities Depository Nominee or <br /> <br />the Securities Depository, as the case may be, while the registered owner of this Bond, as the <br /> <br />owner of this Bond for all purposes, including payments of principal of, and redemption <br /> <br />premium, if any, and.interest on, this Bond, notices and voting. Transfer of principal and interest <br /> <br />and any redemption premium payments to participants of the Securities Depository will be the <br /> <br />responsibility of the Securities Depository, and transfer of principal and interest and any <br /> <br />redemption premium payments to beneficial owners of the Bonds by participants of the <br /> <br />Securities Depository will be the responsibility of such participants and other nominees of such <br /> <br />beneficial owners. The County and the Bond Registrar will not be responsible orJiable for such <br /> <br />transfers of payments or for maintaining, supervising or reviewing records maintained by the <br /> <br />Securities Depository, its participants or persons acting through such participants. <br /> <br />While the Securities Depository Nominee or the Securities Depository, as the case may <br /> <br />be, is the owner of this Bond, notwithstanding the provisions hereinabove contained, payments <br /> <br />of principal of, redemption premium, if any, and interest on this Bond shall be made to the <br />11 <br /> <br />C~4- <br />