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2025-012 - Authorizing the issuance and sale of city of Paris Texas tax notes, Series 2025; providing for the payment of said notes; approves the official statement
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2025-012 - Authorizing the issuance and sale of city of Paris Texas tax notes, Series 2025; providing for the payment of said notes; approves the official statement
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6/25/2025 11:22:42 AM
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6/25/2025 11:22:24 AM
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CITY CLERK
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suit, action or special proceeding in equity or at law, in any court of competent jurisdiction, <br />for any relief permitted by law, including the specific performance of any covenant or <br />agreement contained herein, or thereby to enjoin any act or thing that may be unlawful or <br />in violation of any right of the Registered Owners hereunder or any combination of such <br />remedies. <br />(ii) It is provided that all such proceedings shall be instituted and maintained <br />for the equal benefit of all Registered Owners of Notes then outstanding. <br />(c) Remedies Not Exclusive. <br />(i) No remedy herein conferred or reserved is intended to be exclusive of any <br />other available remedy or remedies, but each and every such remedy shall be cumulative <br />and shall be in addition to every other remedy given hereunder or under the Notes or now <br />or hereafter existing at law or in equity; provided, however, that notwithstanding any other <br />provision of this Ordinance, the right to accelerate the debt evidenced by the Notes shall <br />not be available as a remedy under this Ordinance. <br />(ii) The exercise of any remedy herein conferred or reserved shall not be <br />deemed a waiver of any other available remedy. <br />(iii) By accepting the delivery of a Note authorized under this Ordinance, such <br />Registered Owner agrees that the certifications required to effectuate any covenants or <br />representations contained in this Ordinance do not and shall never constitute or give rise to <br />a personal or pecuniary liability or charge against the officers, employees or trustees of the <br />City or the Council. <br />Section 16. SEVERABILITY. If any section, article, paragraph, sentence, clause, phrase <br />or word in this Ordinance, or application thereof to any persons or circumstances is held invalid <br />or unconstitutional by a court of competent jurisdiction, such holding shall not affect the validity <br />of the remaining portion of this Ordinance, despite such invalidity, which remaining portions shall <br />remain in full force and effect. <br />Section 17. APPROPRIATION. To pay the debt service coming due on the Notes prior <br />to receipt of the taxes levied to pay such debt service, there is hereby appropriated from current <br />funds on hand, which are hereby certified to be on hand and available for such purpose, an amount <br />sufficient to pay such debt service, and such amount shall be used for no other purpose. <br />Section 18. ORDINANCE NO. 2025-009 SUPERSEDED. Ordinance No. 2025-009 <br />previously adopted by the Council is superseded in its entirety by the adoption of this Ordinance. <br />Section 19. EFFECTIVE DATE. In accordance with the provisions of Section 1201.028 <br />of the Texas Government Code, this Ordinance shall be effective immediately upon its adoption <br />by the Council. <br />19 <br />
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