2.16 DTC Blanket Issuer Letter of Representations The Depository Trust Company
A subsidiary of the Depository Trust&Clearing Corporation
BLANKET ISSUER LETTER OF REPRESENTATIONS
(To be completed by Issuer and Co-Issuer(s), if applicable)
Monroe County, Florida
(Name of Issuer and Co-Issuer(s),if applicable)
September 12, 2022
(Date)
The Depository Trust Company
18301 Bermuda Green Drive
Tampa, FL 33647
Attention: Underwriting Department
Ladies and Gentlemen:
This letter sets forth our understanding with respect to all issues (the"Securities") that
Issuer shall request to be made eligible for deposit by The Depository Trust Company("DTC").
Issuer is: (me; igaux shall Epwroant one and cr
oss out the Qtbacj
[formed under the laws ofl State of Florida
To induce DTC to accept the Securities as eligible for deposit at D TC, and to act in
accordance with DTC's Rules with respect to the Securities, Issuer represents to DTC that issuer
will comply with the requirements stated in DTC's Operational Arrangements, as they may be
amended from time to time.
Very truly yours,
Note:
Schedule A contains statements that DTC
believes accurately describe DTC,the method Monroe County, Florida
of effecting book-entry transfers of securities (Issues
distributed through DTC,and certain related 011
eA
matters. By:
(Authorized Officer's Signature)
Pamela G. Hancock, Deputy Clerk
(Print Name)
500 Whitehead Street
(Street Address)
Key West, FL 33040
(City) (State) (Country) (Zip Code)
305-292-3560
(Phone Number)
0TCCphancock@monroe-clerk.com
Address) (E-mail
BLOR 06-2013
SCHEDULE A
(To Blanket Issuer Letter of Representations)
SAMPLE OFFERING DOCUMENT LANGUAGE
DESCRIBING BOOK-ENTRY-ONLY ISSUANCE
(Prepared by DTC--bracketed material may be applicable only to certain issues)
I. The Depository Trust Company ("DTC"),New York, NY, will act as securities depository for the
securities (the "Securities"). The Securities will be issued as fully-registered securities registered in the name of
Cede&Co. (DTC's partnership nominee) or such other name as may be requested by an authorized representative
of DTC. One fully-registered Security certificate will be issued for[each issue of] the Securities, [each] in the
aggregate principal amount of such issue, and will be deposited with DTC. [If,however, the aggregate principal
amount of[any] issue exceeds $500 million, one certificate will be issued with respect to each$500 million of
principal amount,and an additional certificate will be issued with respect to any remaining principal amount of such
issue.]
2. DTC, the world's largest securities depository, is a limited-purpose trust company organized under
the New York Banking Law, a"ban king organization" within the meaning of t he New York Banking Law, a
member oft he Federal Reserve System, a"clearing corporation" within the meaning of the New York Uniform
Commercial Code, and a"clearing agency" registered pursuant to the provisions of Section 17A of the Securities
Exchange Act of 1934. DTC holds and provides asset servicing for over 3.5 million issues of U.S. and non-U.S.
equity issues, corporate and municipal debt issues, and money market instruments (from over 100 countries) that
DTC's participants("Direct Participants")deposit with DTC. DTC also facilitates the post-trade settlement among
Direct Participants of sales and other securities transactions in deposited securities,through electronic computerized
book-entry transfers and pledges between Direct Participants' accounts. This eliminates the need for physical
movement of securities certificates. Direct Participants include both U.S.and non-U.S. securities brokers and
dealers, banks, trust companies, clearing corporations, and certain other organizations. DTC is a wholly-owned
subsidiary of The Depository Trust &Clearing Corporation ("DTCC"). DTCC is the holding company for DTC,
National Securities Clearing Corporation and Fixed Income Clearing Corporation, all of which are registered
clearing agencies. DTCC is owned by the users of its regulated subsidiaries. Access to the DTC system is also
available to others such as both U.S. and non-U.S. securities brokers and dealers, banks, trust companies, and
clearing corporations that clear through or maintain a custodial relationship with a Direct Participant, either directly
or indirectly("Indirect Participants"). DTC has a Standard&Poor's rating of AA+. The DTC Rules applicable
to its Participants are on file with the Securities and Exchange Commission. More information about DTC can be
found at www.dtcc.com.
3. Purchases of Securities under the DTC system must be made by or through Direct Participants,
which will receive a credit for the Securities on DTC 's records. The ownership interest of each actual purchaser of
each Security (`Beneficial Owner") is in turn to be recorded on the Direct and Indirect Participants' records.
Beneficial Owners will not receive written confirmation from DTC of their purchase. Beneficial Owners are,
however, expected to receive written confirmations providing details of the transaction, as well as periodic
statements of their holdings,from the Direct or Indirect Participant through which the Beneficial Owner entered into
the transaction. Transfers of ownership interests in the Securities are to be accomplished by entries made on the
books of Direct and Indirect Participants acting on behalf of Beneficial Owners. Beneficial Owners will not receive
certificates representing their ownership interests in Securities,except in the event that use of the book-entry system
for the Securities is discontinued.
4. To facilitate subsequent transfers, all Securities deposited by Direct Participants with DTC are
registered in the name of DTC's partnership nominee, Cede &Co., or such other name as may be requested by an
authorized representative of DTC. The deposit of Securities with DTC and their registration in the name of Cede&
Co. or such other DTC nominee do not effect any change in beneficial ownership. DTC has no knowledge of the
actual Beneficial Owners of the Securities;DTC's records reflect only the identity of the Direct Participants to
whose accounts such Securities are credited, which may or may not be the Beneficial Owners. The Direct and
Indirect Participants will remain responsible for keeping account of their holdings on behalf of their customers.
BLOB 06-2013
SCHEDULE A
(To Blanket Issuer Letter of Representations)
5. Conveyance of notices and other communications by DTC to Direct Participants, by Direct
Participants to Indirect Participants,and by Direct Participants and Indirect Participants to Beneficial Owners will be
governed by arrangements among them,subject to any statutory or regulatory requirements as may be in effect from
time to time. [Beneficial Owners of Securities may wish to take certain steps to augment the transmission to them of
notices of significant events with respect to the Securities, such as redemptions, tenders, defaults, and proposed
amendments to the Security documents. For example, Beneficial Owners of Securities in ay wish to ascertain that
the nominee holding the Securities for their benefit has agreed to obtain and transmit notices to Beneficial Owners.
In the alternative,Beneficial Owners may wish to provide their names and addresses to the registrar and request that
copies of notices be provided directly to them.]
[6. Redemption notices shall be sent to DTC. If less than all of the Securities within an issue are being
redeemed,DTC's practice is to determine by lot the amount of the interest of each Direct Participant in such issue to
be redeemed.]
7. Neither DTC nor Cede & Co. (nor any other DTC nominee) will consent or vote with respect to
Securities unless authorized by a Direct Participant in accordance with DTC's MMI Procedures. Under its usual
procedures, DTC mails an Omnibus Proxy to Issuer as soon as possible after the record date. The Omnibus Proxy
assigns Cede & Co.'s consenting or voting rights to those Direct Participants to whose accounts Securities are
credited on the record date(identified in a listing attached to the Omnibus Proxy).
8. Redemption proceeds,distributions,and dividend payments on the Securities will be made to Cede
&Co., or such other nominee as may be requested by an authorized representative of DTC. DTC's practice is to
credit Direct Participants' accounts upon DTC's receipt of funds and corresponding detail information from Issuer
or Agent, on payable date in accordance with their respective holdings shown on DT C's records. Payments by
Participants to Beneficial Owners will be governed by standing instructions and customary practices, as is the case
with securities held for the accounts of customers in bearer form or registered in "street name," and will be the
responsibility of such Participant and not of DTC, Agent, or Issuer, subject to any statutory or regulatory
requirements as may be in effect from time to time. Payment of redemption proceeds, distributions, and dividend
payments to Cede&C o. (or such other nominee as may be requested by an authorized representative of DTC) is
the responsibility of Issuer or Agent, disbursement of such payments to Direct Participants will be the
responsibility of DTC, and disbursement of such payments to the Beneficial Owners will be the responsibility of
Direct and Indirect Participants.
[9. A Beneficial Owner shall give notice to elect to have its Securities purchased or tendered, through its
Participant, to [Ten der/Remarketing] Agent, and shall effect delivery of such Securities by causing the Direct
Participant to transfer the Participant's interest in the Securities, on DTC's records,to [Tender/Remarketing] Agent.
'The requirement for physical delivery of Securities in connection with an optional tender or a mandatory purchase
will be deemed satisfied when the ownership rights in the Securities are transferred by Direct Participants on D'f'C*,s
records and followed by a book-entry credit of tendered Securities to[Tender/Remarketing]Agent's DTC account.]
10. DTC may discontinue providing its services as depository with respect to the Securities at any time
by giving reasonable notice to Issuer or Agent. Under such circumstances, in the event that a successor depository is
not obtained,Security certificates are required to be printed and delivered.
11. Issuer may decide to discontinue use of the system of book-entry-only transfers through DTC (or a
successor securities depository). In that event,Security certificates will be printed and delivered to DTC.
12. The information in this section concerning DTC and DTC's book-entry system has been obtained
from sources that Issuer believes to be reliable,but Issuer takes no responsibility for the accuracy thereof.
BLOR 06-2013