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<br /> <br /> <br /> <br /> <br /> ORDIPdANCE N0. 91-046 <br /> ORDINANCE AUTHORIZING THE I3MANCE OF <br /> CITY OF PARIS, TEXAS COMBINATION TAX AND UTILITY SYSTEM REVENUE <br /> CERTIFICATES OF OBLIGATION, SERIES 1991 <br /> <br /> <br /> THE STATE OF TEXAS . <br /> COUNTY OF LAMAR . <br /> CITY OF PARIS . <br /> <br /> WHEREAS, the City Council deems it advisable to issue Certificates of Obligation, <br /> in the amount of $3,300,00(}, for paying, in whole or in part, contractual obligations for <br /> improving and extending the City's combined Waterworks and Sewer System, and for paying <br /> all or a portion of the legal, fiscal and engineering fees in connection with this project; and <br /> <br /> WHEREAS, the City Council has heretofore, on the 29th day of August, 1991, <br /> adopted an Ordinance authorizing and directing the City Clerk to give notice of intention <br /> to issue Certificates of Obligation; and <br /> <br /> WHEREAS, the notice of intention to issue Certificates of Obligation was published <br /> in the Paris News, which is a newspaper of general circulation in said City, in its issues of <br /> September 1, 1991 and September 8, 1991; and <br /> <br /> WHEREAS, the City received no petition from the qualified electors of the City <br /> protesting the issuance of such Certificates of Obligation; and <br /> <br /> WHEREAS, the Certificates of Obligation hereinafter authorized and designated are <br /> to be issued and delivered for cash pursuant to 271.041 et. seq. of the Local Government <br /> Code. <br /> <br /> THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF <br /> PARIS, TEXAS, THAT: <br /> <br /> Section 1. AMOUNT AND PURPOSE OF THE CERTIFICATES 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 $3,300,000, for paying, in whole or in part, contractual obligations for improving <br /> and extending the City's combined Waterworks and Sewer System, and for paying all or a <br /> portion of the legal, fiscal and engineering fees in connection with this project; and <br /> <br /> Section 2. DESIGNATION OF THE CERTIFICATE OF OBLIGATION. Each <br /> certificate of obligation issued pursuant to this Ordinance shall be designated: "CITY OF <br /> PARIS, TEXAS COMBINATION TAX AND UTILITY SYSTEM REVENUE <br /> CERTIFICATE OF OBLIGATION, SERIES 1991", and initially there shall be issued, sold, <br /> and delivered hereunder a single fully registered certificate of obligation, without interest <br /> coupons, payable in installments of principal (the "Initial Certificate of Obligation"), but the <br />