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<br /> THEREFORE, BE TT ORDAINED BY THE CTTY COUNCIL OF THE CITY OF
<br /> PARIS,1'EXAS, THAT:
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<br /> Section 1. AMOUNT AND PURPOSE OF THE CERTIFICATFS OF
<br /> OBLIGATION. The certificate of obligation or certificates of obligation of the City of Paris
<br /> (the "Issuer") are hereby authorized to be issued and delivered in the aggregate principal
<br /> amount of $5,000,000, for paying, in whole or in part, contractual obligations for the
<br /> following purposes: improvements to the Police and Municipal Courts Building and
<br /> acquisition of equipment; improvements to the Solid Waste Department including landfill
<br /> and compost facilities together with the acquisition of equipment; improvements to the Fire
<br /> Department including construction of fire substadons and other improvements to eaasting
<br /> stations, the purchase of land for facilities; funding for demolition of dilapidated properties
<br /> in the community and related cleanup; the acquisition of equipment; renovation of Central
<br /> Fire Station into City Council Meeting Room and related facilities; constructing, improving
<br /> and equipping Municipal Parks, including the purchase of land for such purposes; improving
<br /> the streets in the Issuer, including the purchase of necessary right of way, overlay of eadsting
<br /> streets, construction, reconstruction, related drainage and constructing drainage
<br /> improvements in the Issuer; the purchase of land for Cox Field Airport expansion and the
<br /> construction of improvements to Airport terminal together with purchase of Airport
<br /> equipment, and for paying legal, fiscal, architectural and engineering fees in connection with
<br /> such projects.
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<br /> Section 2. DFSIGNATION OF THE CERTIF'ICATE OF OBLIGATION. Each
<br /> certificate of obligation issued pursuant to this Ordinance shall be designated: "CITY OF
<br /> PARIS, TEXAS CERTIFICATE OF OBLIGATION, SERIFS 1993", and initially there shall
<br /> be issued, sold, and delivered hereunder a single fully registered certiScate of obligation,
<br /> without interest coupons, payable in installments of principal (the Initial Certificate of
<br /> Obligation"), but the Inidal Certificate of Obligadon may be assigned and transferred and/or
<br /> converted into and exchanged for a like aggregate principal amount of fully registered
<br /> certificates of obligation, without interest coupons, having serial maturides, and in the
<br /> denomination or denominations of $5,000 or any integral multiple of $5,000, all in the
<br /> manner hereinafter provided. The term "Certificates of Obligadon" as used in this
<br /> Ordinance shall mean and include collectively the Initial CertiScate of Obligation and all
<br /> substitute certificates of obligation exchanged therefor, as well as all other substitute certifi-
<br /> cates of obligation and replacement certificates of obligation issued pursuant hereto, and the
<br /> term "Certificate of Obligadon" shall mean any of the Certificates of Obligadon.
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<br /> Section 3. INTTIAL DATE, DENOMINATION, NUMBER, MATLJRITIFS,
<br /> INITIAL REGISTERED OWNER, AND CHARACTERISTICS OF THE INTTIAL
<br /> CERTIFICATE OF OBLIGATION. (a) The Initial Certificate of Obligation is hereby
<br /> authorized to be issued, sold, and delivered hereunder as a single fully registered Certificate
<br /> of Obligation, without interest coupons, dated December 15, 1993, in the denomination and
<br /> aggregate principal amount of $5,000,000 numbered R-1, pa able in annual installments of
<br /> principal to the initial registered owner thereot tawit: C o 4~N uw or to the
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