<br />WHEREAS, the meeting was open to the public and public notice of the time, place and
<br />purpose of said meeting was given pursuant to Chapter 551, Texas Government Code.
<br />
<br />THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PARIS:
<br />
<br />Section 1. AMOUNT AND PURPOSE OF THE CERTIFICATES OF OBLIGATION. The
<br />,
<br />certificate of obligation or certificates of obligation of the City of Paris (the "Issuer") !rre hereby
<br />authorized to be issued and delivered in the aggregate principal amount of$6,000,000 for paying all
<br />or a portion of the City's contractual obligations for the purpose improving, constructing and
<br />reconstructing the City's streets, including the purchase of the necessary right of way and the
<br />construction of related drainage, sidewalk and street lighting improvements; improving, constructing
<br />and repairing drainage facilities including the purchase of the necessary right of way; constructing,
<br />improving and purchasing buildings for the Police Department, Fire Department, Municipal Courts
<br />Department and Parks and Recreational Department and Municipal Warehouse Department;
<br />improving and renovating the City Hall and Central Fire Station building together with renovation
<br />of that portion of that building which houses the Central Fire Station into City Council chambers,
<br />offices and related facilities; constructing, improving and equipping municipal parks; and for paying
<br />legal, fiscal, architectural and engineering fees in connection with these projects.
<br />
<br />Section 2. DESIGNATION OF THE CERTIFICATES OF OBLIGATION. Each certificate
<br />of obligation issued pursuant to this Ordinance shall be designated: "CITY OF PARIS, TEXAS
<br />COMBINATION TAX AND REVENUE CERTIFICATE OF OBLIGATION, SERIES 2000", and
<br />initially there shall be issued, sold, and delivered hereunder a single fully registered certificate of
<br />obligation, without interest coupons, payable in installments of principal (the "Initial Certificate of
<br />Obligation"), but the Initial Certificate of Obligation may be assigned and transferred and/or con-
<br />verted into and exchanged for a like aggregate principal amount of fully registered certificates of
<br />obligation, without interest coupons, having serial maturities, and in the denomination or denomi-
<br />nations of $5,000 or any integral multiple of $5,000, all in the manner hereinafter provided. The
<br />term "Certificates of Obligation" as used in this Ordinance shall mean and include collectively the
<br />Initial Certificate of Obligation and all substitute certificates of obligation exchanged therefor, as
<br />well as all other substitute certificates of obligation and replacement certificates of obligation issued
<br />pursuant hereto, and the term "Certificate of Obligation" shall mean any of the Certificates of
<br />Obligation.
<br />
<br />Section 3. INITIAL DATE, DENOMINATION, NUMBER, MATURITIES, INITIAL
<br />REGISTERED OWNER, AND CHARACTERISTICS OF THE INITIAL CERTIFICATE OF
<br />OBLIGATION. (a) The Initial Certificate of Obligation is hereby authorized to be issued, sold, and
<br />delivered hereunder as a single fully registered Certificate of Obligation, without interest coupons,
<br />dated March 15,2000, in the denomination and aggregate principal amount of$6,000,000, numbered
<br />R-l, payable in annual installments of principal to the initial registered owner thereof, to-wit: DAIN
<br />RAUSCHER, INe., or to the registered assignee or assignees of said Certificate of Obligation or any
<br />portion or portions thereof (in each case, the "registered owner"), with the annual installments of
<br />principal of the Initial Certificate of Obligation to be payable on the dates, respectively, and in the
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