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ORDINANCE
<br />AUTHORIZING THE ISSUANCE AND SALE OF CITY OF �PARIS,, TEXAS GENERAI
<br />OBLIGATION BONDS, SERIES 2018; LEVYING AN ANNUAL AD VALOREM TA
<br />FOR THE PAYMENT OF THE BONDS; ENGAGING CONSULTANTS WITH RESPEC
<br />TO THE BONDS; AND ENACTING OTHER PROVISIONS RELATING TO TH
<br />SUBjECT
<br />THE STATE OF TEXAS
<br />LAMAR COUNTY
<br />CITY OF PARIS
<br />WHEREAS, at an election in the City of Paris, Texas (the "Issuer"') held on May 11, 2013
<br />(the "2013 Election"), the voters of the Issuer approved the issuance of tax bonds by the Issuer in
<br />the aggregate principal amount of $45,000,000 for the purpose of constructing and acquiring
<br />improvements and equipping the Issuer's waterworks and sewer system, to -wit: for replacing and
<br />extending water distribution lines and sewer collection lines and constructing repairs to streets
<br />and drainage infrastructure necessitated by such water and sewer line construction (the "Utility
<br />System Purposes"); and
<br />WHEREAS, the Issuer has heretofore issued (i) its General Obligation Bonds, Series 2013
<br />using $35,000,000 (including principal and premium) of said voted bond authorization from the
<br />2013 Election and (ii) its General Obligation Bonds, Series 2,016 using $8,800,000 (including
<br />principal and premium) of said voted bond authorization from the 2013 Election, thereby leaving
<br />$1,200,000 of voted but unissued bond authorization from the 2.013 Election for the Utility System
<br />Purposes; and
<br />WHEREAS, at an election in the Issuer held on May 6, 2017 (the "2017 Election"'), the
<br />voters of the Issuer approved the issuance of tax bonds by the Issuer in the aggregate principal
<br />amount of $10,000,000, with $9,500,000 of the bonds approved at said election for the purpose of
<br />constructing, improving, extending, expanding, upgrading and developing streets and roads,
<br />bridges and intersections including, utility relocation, landscaping, sidewalks, traffic safety and
<br />operational improvements, the purchase of any necessary fight -of -way, drainage and other related
<br />costs (the "Street Purposes") and with $500,000 of the bonds approved at said election for the
<br />purpose of improving and equipping parks, trails and recreational facilities (the "Park Purposes");
<br />and
<br />WHEREAS, the Issuer has heretofore issued its General Obligation Bonds, Series 2017
<br />using $9,310,000 (including principal and premium) of said voted bond authorization for the Street
<br />Purposes from the 2017 Election and all $500,000 of said voted bond authorization (including
<br />principal and premium) fi-orn the 2017,Election for the Park Purposes, thereby leaving $190,000 of
<br />voted but unissued bond authorization frorn the 2017,Election for Street Purposes; and
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