|
Section 2. DESIGNATION OF THE BONDS. Each bond issued pursuant to this Ordinance
<br />shall be designated: "CITY OF PARIS, TEXAS TAX AND REVENUE REFLTNDING BOND,
<br />SERIES 1998", and initially there shall be issued, sold, and delivered hereunder a single fully
<br />registered bond, without interest coupons, payable in annual installments of principal (the "Initial
<br />Bond"), but the Initial Bond may be assigned and transferred and/or converted into and exchanged
<br />for a like aggregate principal amount of fully registered bonds, without interest coupons, having
<br />serial and annual maturities, and in the denomination or denominations of $5,000 or any integral
<br />multiple of $5,000, all in the manner hereinafter provided. The term "Bonds" as used in this
<br />Ordinance shall mean and include collectively the Initial Bond and all substitute bonds exchanged
<br />therefor, as well as all other substitute bonds and replacement bonds issued pursuant hereto, and the
<br />term "Bond" shall mean any of the Bonds.
<br />Section 3. INITIAL DATE, DENOMINATION, NUMBER, MATURITIES, INITIAL
<br />REGISTERED OWNER, AND CHARACTERISTICS OF THE INITIAL BOND. (a) The Initial
<br />Bond is hereby authorized to be issued, sold, and delivered hereunder as a single fully registered
<br />Bond, without interest coupons, dated September 1, 1998, in the denomination and aggregate
<br />principal amount of $5,810,000, numbered R-1, payable in annual installments of principal to the
<br />initial registered owner thereof, to-wit: FIRST SOUTHWEST COMPANY, or to the registered
<br />assignee or assignees of said Bond or any portion or portions thereof (in each case, the "registered
<br />owner"), with the annual installments of principal of the Initial Bond to be payable on the dates,
<br />respectively, and in the principal amounts, respectively, stated in the FORM OF INITIAL BOND
<br />set forth in this Ordinance.
<br />(b) The Initial Bond (i) may be prepaid or redeemed prior to the respective scheduled due
<br />dates of installments of principal thereof, (ii) may be assigned and transferred, (iii) may be converted
<br />and exchanged for other Bonds, (iv) shall have the characteristics, and (v) shall be signed and sealed,
<br />and the principal of and interest on the Initial Bond shall be payable, all as provided, and in the
<br />manner required or indicated, in the FORM OF INITIAL BOND set forth in this Ordinance.
<br />Section 4. INTEREST. The unpaid principal balance of the Initial Bond shall bear interest
<br />from the date of the Initial Bond and will be calculated on the basis of a 360-day year of twelve 30-
<br />day months to the respective scheduled due dates, or to the respective dates of prepayment or
<br />redemption, of the installments of principal of the Initial Bond, and said interest shall be payable,
<br />all in the manner provided and at the rates and on the dates stated in the FORM OF INITIAL BOND
<br />set forth in this Ordinance.
<br />Section 5. FORM OF INITIAL BOND. The form of the Initial Bond, including the form
<br />of Registration Certificate of the Comptroller of Public Accounts of the State of Texas to be
<br />endorsed on the Initial Bond, shall be substantially as follows:
<br />3
<br />
|