|
{
<br />
<br />
<br />
<br />
<br />
<br />
<br /> ORDINANCE-=~k lz&~4 - Og~p
<br /> AUTHORIZING THE ISSUANCE OF CERTIFICATES OF OBLIGATION
<br />
<br />
<br /> THE STATE OF TEXAS §
<br /> COUNTY OF LAMAR §
<br /> CITY OF PARIS §
<br /> WHEREAS, the City Council deems it advisable to issue
<br /> Certificates of Obligation in the amount of $6,500,000 for the
<br /> purpose of paying, in whole or in part, contractual obligations
<br /> for improving and extending the City's combined Waterworks and
<br /> Sewer System, and for paying all or a portion of the legal,
<br /> fiscal and engineering fees in connection with this project;
<br /> and
<br /> WHEREAS, the Certificates of Obligation hereinafter
<br /> authorized and designated are to be issued and delivered for
<br /> cash pursuant to Article 2368a. 1, V. A. T. C. S. ; and
<br /> WHEREAS, the City Council has heretofore, on the 8th day
<br /> ~of November, 1984, adopted a resolution authorizing and direct-
<br /> ing the city clerk to give notice of intention to issue Certi-
<br /> ficates of Obligation; and
<br />
<br /> WHEREAS, said notice has been duly published in The Paris
<br /> News, which is a newspaper of general circulation in said City,
<br /> in its issues of November 11, 1984 and November 18, 1984; and
<br /> WHEREAS, the City received no petition from the qualified
<br /> Ielectors of the City protesting the issuance of such Certifi-
<br /> ,cates of Obligation.
<br /> i
<br /> BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PARIS:
<br /> Section 1. AMOUNT AND PURPOSE OF THE CERTIFICATES OF
<br /> OBLIGATION. The certificate of obligation or certificates of
<br /> obligation of the City of Paris (the "Issuer") are hereby
<br /> authorized to be issued and delivered in the aggregate princi-
<br /> pal amount of $6,500,000, for the purpose of paying, in whole
<br /> or in part, contractual obligations for improving and extending
<br /> the City's combined Waterworks and Sewer System, and for paying
<br /> all or a portion of the legal, fiscal and engineering fees in
<br /> connection with this project,
<br /> Section 2. DESIGNATION OF THE CERTIFICATES OF OBLIGATION.
<br /> Each certificate of obligation issued pursuant to this Ordin-
<br /> ance shall be designated: "CITY OF PARIS, TEXAS COMBINATION
<br /> TAX AND UTILITY SYSTEM REVENUE CERTIFICATE OF OBLIGATION,
<br /> SERIES 1984", and initially there shall be issued, sold, and
<br /> delivered hereunder a single fully registered certificate of
<br /> obligation, without interest coupons, payable in installments
<br /> of principal (the "Initial Certificate of Obligation"), but the
<br /> Initial Certificate of Obligation may be assigned and trans-
<br /> ferred and/or converted into and exchanged for a like aggregate
<br /> principal amount of fully registered certificates of obliga-
<br /> tion, without interest coupons, having serial maturities, and
<br /> in the denomination or denominations of $5,000 or any integral
<br /> multiple of $5,000, all in the manner hereinafter provided.
<br /> The term "Certificates of Obligation" as used in this Ordinance
<br /> shall mean and include collectively the Initial Certificate of
<br /> Obligation and all substitute certificates of obligation ex-
<br /> changed therefor, as well as all other substitute certificates
<br /> of obligation and replacement certificates of obligation issued
<br /> pursuant hereto, and the term "Certificate of Obligation" shall
<br /> mean any of the Certificates of Obligation.
<br /> Section 3. INITIAL DATE, DENOMINATION, NUMBER, MATURI-
<br /> TIES, INITIAL REGISTERED OWNER, AND CHARACTERISTICS OF THE
<br />
|