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<br />
<br /> 91-055
<br /> ORDINANCE
<br />
<br /> AUTHORIZING THE ISSUANCE OF TAX AND REVENUE REFUNDING
<br /> BONDS, SERIES 1991, APPROVING AN OFFICIAL STATEMENT, THE
<br /> EXECUTION OF AN ESCROW AGREEMENT, AND MAKING PROVI-
<br /> SIONS FOR THE SECURITY THEREOF, AND ORDAINING OTHER
<br /> MATl'ER5 RELATING TO THE SUBJECT
<br />
<br />
<br /> THE STATE OF TEXAS §
<br /> COUNTY OF LAMAR §
<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 Vernon's Ann. Tex. Civ. St. Articles 1111 through 1118, Article
<br /> 1175, and Article 717k, as amended, the followmg series or issues of bonds being secured
<br /> solely by a lien on and pledge of the Net Revenues of the Issuer's Waterworks and Sewer
<br /> System:
<br />
<br /> City of Paris, Texas Waterworks and Sewer System Revenue Refunding
<br /> Bonds, Series 1983, dated June 15, 1983, maturities 6/15/92 through 6/15/03,
<br /> now outstanding in the principal amount of $2,420,000 (the "Series 1983
<br /> Bonds");
<br />
<br /> City of Paris, Texas Waterworks and Sewer System Prior Lien Revenue Bonds,
<br /> Series 1988, dated September 15, 1988, maturities 6/15/92 through 6/15/08,
<br /> now outstanding in the principal amount of $4,725,000 (the "Series 1988
<br /> Bonds");
<br />
<br /> and the following series or issues of certificates of obligation being secured by ad valorem
<br /> taxes and a pledge of surplus revenues of the Waterworks and Sewer System:
<br />
<br /> City of Paris, Texas Combination Tax and Utility System Revenue Certificates
<br /> of Obligation, Series 1984, dated December 15, 1984, maturities 12/15/91
<br /> through 12/15/99, now outstanding in the principal amount of $4,800,000 (the
<br /> "Series 1984 Certificates of Obligation");
<br />
<br /> City of Paris, Texas Combination Taac and Utility System Revenue Certificates
<br /> of Obligation, Series 1991, dated October 15, 1991, maturities 12/15/92
<br /> through 12/15/11, now outstanding in the principal amount of $3,300,000 (the
<br /> "Series 1991 Certificates of Obligation");
<br />
<br /> WHEREAS, the Issuer now desires to refund all of the outstanding Series 1983
<br /> Bonds in the aggregate principal amount of $2,420,000, all of the outstanding Series 1984
<br /> Certificates of Obligation in the aggregate principal amount of $4,800,000, all of the Series
<br /> 1988 Bonds in the aggregate principal amount of $4,725,000, and all of the outstanding
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