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15-adoption of an Ordinance authorizing all matters related to the issuance and sale of the City of Paris General Obligation Refunding Bonds, Series 2010
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15-adoption of an Ordinance authorizing all matters related to the issuance and sale of the City of Paris General Obligation Refunding Bonds, Series 2010
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8/22/2012 4:18:56 PM
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1/22/2010 4:46:06 PM
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CITY CLERK
Doc Name
15
Doc Type
Agenda
CITY CLERK - Date
1/25/2010
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WHEREAS, the Bonds hereinafter authorized to be issued and are to be issued, sold and <br />delivered pursuant to the general laws of the State of Texas, including Texas Government Code, <br />Chapter 1207, as amended; and <br />WHEREAS, it is officially found, determined, and declared that the meeting at which this <br />Ordinance has been adopted was open to the public and public notice of the time, place and subject <br />matter of the public business to be considered and acted upon at said meeting, including this <br />Ordinance, was given, all as required by the applicable provisions of Texas Government Code, <br />Chapter 551; Now, Therefore <br />BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS: <br />Section 1. RECITALS, AMOUNT AND PURPOSE OF THE BONDS. The recitals set <br />forth in the preamble hereof are incorporated herein and shall have the same force and effect as if <br />set forth in this Section. The bonds of the Issuer are hereby authorized to be issued and delivered <br />in the aggregate principal amount of $17,190,000 for the purpose of refunding certain outstanding <br />obligations of the Issuer referenced in the preamble hereto and described in Schedule I hereto and <br />to pay the costs incurred in connection with the issuance of the Bonds. <br />Section 2. 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, GENERAL OBLIGATION <br />REFLJNDING BOND, SERIES 2010," and initially there shall be issued, sold, and delivered <br />hereunder one fully registered bond, without interest coupons, dated February 15, 2010, in the <br />principal amount stated above and in the denominations hereinafter stated, numbered T-l, with <br />bonds issued in replacement thereof being in the denominations and principal amounts hereinafter <br />stated and numbered consecutively from R-1 upward, payable to the respective Registered Owners <br />thereof (with the initial bond being made payable to the initial purchaser as described in Section 10 <br />hereof), or to the registered assignee or assignees of said bonds or any portion or portions thereof <br />(in each case, the "Registered Owner"), and said bonds shall mature and be payable serially on June <br />15 and December 15 in each of the years and in the principal amounts, respectively, and shall bear <br />interest from the dates set forth in the FORM OF BOND set forth in Section 4 of this Ordinance to <br />their respective dates of maturity or redemption prior to maturity at the rates per annum, as set forth <br />in the following schedule: <br />Maturity Principal <br />Interest Maturity Principal Interest <br />Dates Amount <br />Rates Dates Amount Rates <br />06/15/2010 <br />06/15/2015 <br />12/ 15/2010 <br />12/ 15/2015 <br />06/15/2011 <br />06/15/2016 <br />12/15/2011 <br />12/15/2016 <br />06/15/2012 <br />06/15/2017 <br />12/15/2012 <br />12/15/2017 <br />06/ 15/2013 <br />06/ 15/2018 <br />2 <br />
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