2002-038-ORD AUTHORIZING ISSUANCE OF COP TEXAS COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION SERIES 2002

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ORDINANCE NO. 2002-038 ORDINANCE AUTHORIZING THE ISSUANCE OF CITY OF PARIS, TEXAS COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION, SERIES 2002, IN THE PRINCIPAL AMOUNT OF $6,060,000, AND APPROVING OTHER AUTHORIZING INSTRUMENTS AND PROCEDURES RELATING THERETO THE STATE OF TEXAS COUNTY OF LAMAR CITY OF PARIS ~ ~ ~ WHEREAS, the City deems it advisable to give notice of intention to issue Combination Tax and Revenue Certificates of Obligation for paying all or a portion of the City's contractual obligations for the purpose of acquiring an 83,000 sq. ft. building situated on 23 acres being referred to as the UARCO Building, which will be converted to a law enforcement center for police, courts and jail, and other improvements related thereto; and for paying legal, fiscal, architectural and engineering fees in connection with these projects; and WHEREAS, the Certificates of Obligation hereinafter authorized and designated are to be issued and delivered for cash pursuant to Article 2368a.l, VA. T.C.S., now known as Subchapter C of Chapter 271 of the Local Government Code, and Chapter 1502, Texas Government Code; and WHEREAS, the City Council has heretofore, on the 10th day of May, 2002, adopted a resolution authorizing and directing the City Clerk to give notice of intention to issue Certificates of Obligation; and WHEREAS, said notice has been duly published in the Paris News, which is a newspaper of general circulation in said City, in its issues of July 11, 2002 and July 18, 2002; and WHEREAS, the City received no petition from the qualified electors of the City protesting the issuance of such Certificates of Obligation; and WHEREAS, the meeting was open to the public and public notice of the time, place and purpose of said meeting was given pursuant to Chapter 551, Texas Government Code. THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PARIS: Section 1. AMOUNT AND PURPOSE OF THE CERTIFICATES OF OBLIGATION. The certificate of obligation or certificates of obligation of the City of Paris (the "Issuer") are hereby authorized to be issued and delivered in the aggregate principal amount of $6,060,000 for paying all or a portion of the City's contractual obligations for the purpose of acquiring an 83,000 sq. ft. building situated on 23 acres being referred to as the UARCO Building, which will be converted to a law enforcement center for police, courts and jail, and other improvements related thereto; and for paying legal, fiscal, architectural and engineering fees in connection with these projects.