19 - Issuance and Sale of City of Paris Waterworks and Sewer System Revenue Bonds Series 2022 (2)

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ORDINANCE AUTHORIZING THE ISSUANCE AND SALE OF CITY OF PARIS, TEXAS, WATERWORKS AND SEWER SYSTEM REVENUE BONDS, SERIES 2022, APPROVING AN OFFICIAL STATEMENT, AND APPROVING OTHER AUTHORIZING INSTRUMENTS AND PROCEDURES RELATING THERETO THE STATE OF TEXAS § COUNTY OF LAMAR § CITY OF PARIS § WHEREAS, Chapter 1502, Texas Government Code, as amended, provides that the governing body of a municipality may issue public securities for the public purposes of acquiring, constructing, installing and equipping additions, improvements and extensions to the City's waterworks and sewer system, and the City Council (the "Council") of the City of Paris, Texas (the "City") finds and determines that it is necessary, useful and appropriate for the City to authorize and provide for the issuance and sale of revenue bonds of the City for such purposes, as hereinafter provided; and WHEREAS, it is officially found, determined, and declared that the meeting at which this Ordinance has been adopted was open to the public and public notice of the time, place and subject matter of the public business to be considered and acted upon at said meeting, including this Ordinance, was given, all as required by the applicable provisions of Chapter 551, Texas Government Code, as amended; NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS: Section 1. RECITALS, AMOUNT AND PURPOSE OF THE BONDS. The recitals set forth in the preamble hereof are incorporated herein and shall have the same force and effect as if set forth in this Section. The Bonds (defined below) are hereby authorized to be issued and delivered in the aggregate principal amount of $ for the public purpose of financing the costs of the Project (defined below) and paying the costs incurred in connection with the issuance of the Bonds. Section 2. DEFINITIONS. Unless otherwise expressly provided or unless the context clearly requires otherwise, in this Ordinance the following terms shall have the meanings specified below: "Additional Bonds" means the additional parity bonds and other obligations permitted to be issued or entered into under the provisions of this Ordinance. "Annual Debt Service Requirements" means, as of the date of calculation, the principal of and interest on all Bonds Similarly Secured coming due at Maturity or Stated Maturity (or that could come due on demand of the owner thereof other than by acceleration or other demand conditioned upon default by the City on such Bonds Similarly Secured, or be payable in respect of any required purchase of such Bonds Similarly Secured by the City) in such Fiscal Year.