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ORDINANCE 98-040
<br />AUTHORIZING THE ISSUANCE OF CITY OF PARIS, TEXAS TAX AND REVENUE
<br />REFUNDING BONDS, SERIES 1998, APPROVING AN OFFICIAL STATEMENT,
<br />AUTHORIZING THE EXECUTION OF A BOND PURCHASE AGREEMENT AND THE
<br />EXECUTION OF AN ESCROW AGREEMENT, AND MAKING PROVISIONS FOR THE
<br />SECURITY THEREOF, AND ORDAINING OTHER MATTERS RELATING TO THE
<br />SUBJECT
<br />THE STATE OF TEXAS
<br />§
<br />COUNTY OF LAMAR
<br />§
<br />CITY OF PARIS
<br />§
<br />WHEREAS, the City of Paris, Texas (the "Issuer") has duly issued and there is now
<br />outstanding pursuant to Articles 1111 through 1118, Article 1175, and Article 717k, as amended,
<br />V.A.T.C.S. the following series or issues of bonds being secured solely by a lien on and pledge of
<br />the Net Revenues of the Issuer's Waterworks and Sewer System:
<br />Waterworks and Sewer System Revenue Bonds, Series 1992, dated April 1, 1992,
<br />maturities December 15, 1998 through December 15, 2011, now outstanding in the
<br />principal amount of $7,980,000 (the "Series 1992 Bonds" or "Outstanding Revenue
<br />Bonds");
<br />Waterworks and Sewer System Revenue Bonds, Series 1997, dated February 15,
<br />1997, maturities June 15, 1999 through June 15, 2016, now outstanding in the
<br />principal amount of $5,000,000 (the "Series 1997 Bonds" or "Outstanding Revenue
<br />Bonds");
<br />and the following series or issues of Bonds and Certificates of Obligation being secured by ad
<br />valorem taxes and a pledge of surplus revenues of the Waterworks and Sewer System:
<br />Tax and Revenue Refunding Bonds, Series 1991, dated November l, 1991,
<br />maturities December 15, 1998 through December 15, 2011, now outstanding in the
<br />principal amount of $13,075,000 (the "Series 1991 Bonds");
<br />Certificates of Obligation, Series 1993, dated December 15, 1993, maturities
<br />December 15, 1998 through December 15, 2013, now outstanding in the principal
<br />amount of $4,485,000 (Series 1993 Certificates of Obligation");
<br />Certificates of obligation, Series 1994, dated August 15, 1994, maturities December
<br />15, 1998 through December 15, 2014, now outstanding in the principal amount of
<br />$5,005,000 (Series 1994 Certificates of Obligation"); and
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