2024-014 - Approving the issuances and sale of City of Paris Texas Combination and Tax and Surplus Revenue Certificates of Obligation, Series 2024 and approving various documents related to such

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affect the excludability for federal income tax purposes from gross income of the interest. Section 10. SALE OF CERTIFICATES AND APPROVAL OF OFFICIAL STATEMENT; FURTHER PROCEDURES. (a) The Certificates are hereby sold and shall be delivered to Raymond James & Associates, Inc., Robert W. Baird & Co. Incorporated and Estrada Hinojosa & Company, Inc. (the "Underwriters") for the purchase price of $44,358,570.21 (representing the aggregate principal amount of the Certificates, plus a net reoffering premium of $1,786,340.35, less an underwriters' discount of $255,582.78, plus interest accrued from the Dated Date to the Delivery Date in the amount of $37,812.64). The Certificates shall initially be registered in the name of Raymond James & Associates, Inc., or its designee. (b) The Certificates are sold pursuant to the terms and provisions of a Purchase Agreement, in substantially the form presented at this meeting, which the Mayor and Mayor Pro Tem are hereby authorized to execute and deliver. It is hereby officially found, determined and declared that the terms of this sale are the most advantageous reasonably obtainable to the City. (c) The City hereby approves the form and content of the Official Statement relating to the Certificates and any addenda, supplement or amendment thereto, and approves the distribution of such Official Statement in the reoffering of the Certificates by the Underwriters in final form, with such changes therein or additions thereto as any Authorized Officer may deem advisable. The distribution and use of the Preliminary Official Statement prior to the date hereof is hereby ratified and confirmed. (d) The Authorized Officers, individually or jointly, shall be and they are hereby expressly authorized, empowered and directed from time to time and at any time to do and perform all such acts and things and to execute, acknowledge and deliver in the name and under the corporate seal and on behalf of the City such documents, certificates and instruments, whether or not herein mentioned, as may be necessary or desirable in order to carry out the terms and provisions of this Ordinance, the Blanket Issuer Letter of Representations, the Certificates and the sale of the Certificates. In addition, prior to the delivery of the Certificates, the Authorized Officers are each hereby authorized and directed to approve any changes or corrections to this Ordinance or to any of the documents authorized and approved by this Ordinance: (i) in order to cure any ambiguity, formal defect, or omission in this Ordinance or such other document, or (ii) as requested by the Attorney General or his representative to obtain the approval of the Certificates by the Attorney General. In case any officer whose signature shall appear on any Certificate shall cease to be such officer before the delivery of such Certificate, such signature shall nevertheless be valid and sufficient for all purposes the same as if such officer had remained in office until such delivery. Section 11. INTEREST EARNINGS ON CERTIFICATE PROCEEDS. Interest earnings derived from the investment of proceeds from the sale of the Certificates shall be used along with other Certificate proceeds for the Projects; provided that after completion of such purpose, if any of such interest earnings remain on hand, such interest earnings shall be deposited in the Interest and Sinking Fund. It is further provided, however, that any interest earnings on certificate proce eds that are required to be rebated to the United States of America pursuant to the provisions hereof in order to prevent the Certificates from being arbitrage bonds shall be so rebated and not considered as interest earnings for the purposes of this Section. 13