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<br />authorizing the issuance, sale, and delivery of an <br />issue of City of Paris, Texas Waterworks and Sewer <br />System Prior Lien Revenue Bonds, Series 1988", in the <br />principal amount of $5,000,000, to be payable from, and <br />secured by a prior first lien on and pledge of the <br />Pledged Revenues of the City's combined Waterworks and <br />Sewer System, as defined in the Ordinance which <br />authorized the City's outstanding City of Paris, Texas <br />Waterworks and Sewer System Revenue Refunding Bonds, <br />Series 1983, and all as will be defined and provided in <br />the aforesaid ordinance. Said bonds will bear interest <br />from their date at maximum rates not to exceed fifteen <br />per centum per annum, will be scheduled to mature <br />serially within a maximum of not to exceed thirty (30) <br />years from their date, and will be subject to redemp- <br />tion prior to maturity, and will have such other and <br />further characteristics, as will be provided in the <br />aforesaid ordinance. Said bonds will be authorized, <br />issued, sold, and delivered pursuant to Articles lllla, <br />11l2, 11l3, 1114, and 1115, Vernon's Annotated Texas <br />Civil Statutes and other applicable laws, for the <br />purpose of providing money for improvements and <br />extensions of the Waterworks and Sewer System of the <br />City of Paris. <br /> <br />CITY OF PARIS, PARIS, TEXAS". <br /> <br />3. That this Resolution shall become effective <br />immediately upon adoption. <br /> <br />PASSED AND ADOPTED this the 11th day of July, 1988. <br /> <br />ATTEST: <br /> <br /> <br />, Mayor <br /> <br />~~\.. ~~~~V <br />Mattie unningham, City erk <br /> <br />APPROVED AS <br /> <br />~. <br /> <br /> <br />ty Attorney <br />