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"Stated Maturity" means the annual principal payments of the Bonds Similarly Secured
<br />payable on the respective dates set forth in the ordinance(s) which authorized the issuance of
<br />such Bonds Similarly Secured.
<br />"Subordinate Lien Obligations" means any bonds, notes, warrants, contractual
<br />obligations or other obligations issued or incurred by the City that are payable, in whole or in
<br />part, from and equally and ratably secured by a lien on and pledge of the Pledged Revenues, such
<br />pledge being subordinate and inferior to the lien on and pledge of the Pledged Revenues that are
<br />or will be pledged to the payment of any Bonds Similarly Secured issued by the City.
<br />"System" means the City's existing combined water and sewer system, together with all
<br />future extensions, improvements, enlargements, and additions thereto, and all replacements
<br />thereof; provided that, notwithstanding the foregoing, and to the extent now or hereafter
<br />authorized or permitted by law, the term System shall not include any Special Projects which are
<br />hereafter acquired or constructed by the City with the proceeds of Special Project Obligations.
<br />"Underwriter" means the initial purchaser of the Bonds, FHN Financial Capital Markets.
<br />Section 3. DESIGNATION, DATE, DENOMINATIONS, NUMBERS, AND
<br />MATURITIES AND INTEREST RATES OF BONDS. Each bond issued pursuant to this
<br />Ordinance shall be designated: "CITY OF PARIS, TEXAS, WATERWORKS AND SEWER
<br />SYSTEM REVENUE BOND, SERIES 2022," and initially there shall be issued, sold, and
<br />delivered hereunder one fully registered bond, without interest coupons, dated November 1,
<br />2022, in the principal amount stated above and in the denominations hereinafter stated,
<br />numbered T-1, with bonds issued in replacement thereof being in the denominations and
<br />principal amounts hereinafter stated and numbered consecutively from R-1 upward, payable to
<br />the respective Registered Owners thereof (with the initial Bond(s) being made payable to the
<br />Underwriter as described herein), or to the registered assignee or assignees of said Bonds or any
<br />portion or portions thereof (in each case, the "Registered Owner"), and said Bonds shall mature
<br />and be payable on June 15 in each of the years and in the principal amounts, respectively, and
<br />shall bear interest from the date set forth in the FORM OF BOND set forth in Exhibit A hereto
<br />to their respective dates of maturity or redemption prior to maturity at the rates per annum, as set
<br />forth in the schedule included in the FORM OF BOND set forth in Exhibit A hereto.
<br />The Bonds shall be subject to redemption prior to maturity as set forth in the FORM OF
<br />BOND included in Exhibit A hereto.
<br />Section 4. CHARACTERISTICS OF THE BONDS.
<br />(a) A ointment of Pa in ;w Aent/Reistrar. The City hereby appoints BOKF, NA,
<br />Dallas, Texas, to serve as the initial Paying Agent/Registrar for the Bonds. The Mayor and
<br />Mayor Pro Tem are each authorized and directed to execute and deliver in the name and under
<br />the corporate seal and on behalf of the City a Paying Agent/Registrar Agreement with the Paying
<br />Agent/Registrar in substantially the form presented at this meeting.
<br />(b) Registration, Transfer Conversion, and Exchange. The City shall keep or cause to
<br />be kept at the corporate trust office of the Paying Agent/Registrar books or records for the
<br />registration of the transfer, conversion, and exchange of the Bonds (the "Registration Books"),
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