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1995-004-RES WHEREAS, CITY COUNCIL DID AT ITS SPECIAL MEETING ON SEPTEMBER 19 1994
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1995-004-RES WHEREAS, CITY COUNCIL DID AT ITS SPECIAL MEETING ON SEPTEMBER 19 1994
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8/18/2006 4:32:12 PM
Creation date
4/7/2005 12:31:10 AM
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CITY CLERK
Doc Name
1995
Doc Type
Resolution
CITY CLERK - Date
1/9/1995
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<br />EXHIBIT B <br />LEGAL COUNSEL OPINION <br /> <br />Date: <br /> <br />December 12, 1994 <br /> <br />TYMCO, Inc. <br /> <br />P.O. Box 236B <br /> <br />Waco, TX 76703 <br /> <br />RE: <br /> <br />City of Paris <br /> <br />Texas <br /> <br />, Lease/Purchase <br /> <br />Agreement dated as of <br /> <br />December 1 2 <br /> <br />, 1994 <br /> <br />I with <br /> <br />TYMCD, Inc. <br /> <br />'Gentlemen: <br /> <br />As legal counsel to <br />have examined (1) an <br /> <br />City of Paris <br />executed counterpart <br /> <br />I (the I'Buyer"), I <br />of a certain Equipment Lease/Purchase <br /> <br />Agreement (the "Agreement") dated <br /> <br />December 1 2 <br /> <br />, 19 <br /> <br />94 <br /> <br />, by and <br /> <br />between <br />which, ,inter <br /> <br />TYMCD, Inc. <br />alia, provides <br /> <br />, as Seller, and the Buyer, <br />for the sale to and purchase by the Buyer of certain <br /> <br />property (the "Property"), (2) an executed counterpart of Resolution No. <br /> <br />dated <br />authorizes the Buyer to <br />and matters of law as I <br />opinions. <br /> <br />, 19 I of the Buyer which, inter alia, <br />execute the Agreement and (3) such other opinions, documents. <br />have deemed necessary in connection with the following <br /> <br />Based upon the foregoing, it is my opinion that: <br /> <br />(l) The Buyer is a municipal corporation, duly organized and existing under the laws <br /> <br />of the State of Texas , with the requisite power and <br />authority to incur obligations the interest on which are exempt from taxation by <br />virtue of Section 103 of the Internal Revenue Code of 1954, as amended, to <br />purchase the Property and to execute, deliver and perform its obligations under <br />the Agreement; <br /> <br />(2) The Agreement and the other documents either attached thereto or required <br />therein have been duly authorized, approved and executed by and on behalf of the <br />Buyer and the Agreement is a valid and binding obligation of th~ Buyer <br />enforceable in accordance with its terms; <br /> <br />(3) The authorization, approval and execution of the Agreement and all other <br />proceedings of the Buyer relating to the transactions contemplated thereby have <br />been performed in accordance with all open meeting laws, public bidding laws and <br />all other applicable state or federal laws; <br />
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