Official Statement Airport Commission City and County of San ...

Introduction
APPENDIX B
INFORMATION REGARDING DTC AND THE BOOK-ENTRY ONLY SYSTEM
The information below concerning DTC and DTC’s book-entry system has been obtained from DTC,
and the Commission assumes no responsibility for the accuracy or completeness thereof. DTC has
established a book-entry depository system pursuant to certain agreements between DTC and its participants
(the “Participants”). The Commission is not a party to those agreements. The Commission and the Trustee
do not have any responsibility or obligation to DTC Participants, to the persons for whom they act as
nominees, or to any other person who is not shown on the registration books as being an owner of the 2010A
Bonds, with respect to any matter including (i) the accuracy of any records maintained by DTC or any of its
Participants, (ii) the payment by DTC or its Participants of any amount in respect of the principal of,
redemption price of, or interest on the 2010A Bonds; (iii) the delivery of any notice which is permitted or
required to be given to registered owners under the 1991 Master Resolution; (iv) the selection by DTC or any
of its Participants of any person to receive payment in the event of a partial redemption of the 2010A Bonds;
(v) any consent given or other action taken by DTC as registered owner; or (vi) any other matter. The
Commission and the Trustee cannot and do not give any assurances that DTC, its Participants or others will
distribute payments of principal of or interest on the 2010A Bonds paid to DTC or its nominee, as the
registered owner, or give any notices to the Beneficial Owners or that they will do so on a timely basis or will
serve and act in a manner described in this Official Statement.
General
DTC will act as securities depository for the 2010A Bonds. The 2010A Bonds will be issued as fully
registered securities registered in the name of Cede & Co. (DTC’s partnership nominee). One fully registered
2010A Bond certificate will be issued for each maturity and Series of 2010A Bonds, each in the aggregate principal
amount of such maturity, and will be deposited with DTC.
DTC, the world’s largest depository, is a limited-purpose trust company organized under the New York
Banking Law, a “banking organization” within the meaning of the New York Banking Law, a member of the
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 bookentry
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 Standard & Poor’s highest rating: AAA. 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
and www.dtc.org. The information contained in such websites is not incorporated by reference herein.
Purchases of the 2010A Bonds under the DTC system must be made by or through Direct Participants,
which will receive a credit for the 2010A Bonds on DTC’s records. The ownership interest of each actual purchaser
of each 2010A Bond (“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
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