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<br /> ~ ORDINANCE _tZ`~~
<br /> ~ AUTHORIZING THE ISSUANCE OF CERTIFICATES OF OBLIGATION
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<br /> THE STATE OF TEXAS §
<br /> COUNTY OF LAMAR §
<br /> ~ CITY OF PARIS §
<br /> i WHEREAS, the City Council deems it advisable to issue
<br /> ;Certificates of Obligation in the amount of $1,000,000 for the
<br /> ~purpose of paying, in whole or in part, contractual obligations
<br /> for constructing and improving the City's Solid Waste Disposal
<br /> ~System, to-wit: closure of old municipal land fill area and
<br /> tacquisition, construction and improvement of new municipal land
<br /> ~fill area, and for paying all or a portion of the legal, fiscal
<br /> ~ and engineering fees in connection with this project; and
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<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
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<br /> ~ WHEREAS, the City Council has heretofore, on the 8th day
<br /> iof November, 1984, adopted a resolution authorizing and direct-
<br /> ~ ing the city clerk to give :,Lotice of intention to issue Certi-
<br /> ~ ficates of Obligation; an.d
<br /> ~ WHEREAS, said notice has been dul.y published in The Paris
<br /> iNews, which is a newspaper of general circulation in said City,
<br /> j in its issues of November 11, 1984 and November 18, 1984; and
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<br /> ~ WHEREAS, the City received no petition from the qualified
<br /> (electors of the City protesting the issuance of such Certifi-
<br /> ~cates of Obligation.
<br /> ~ BE I T ORDA I NED BY THE C I TY COUNC I L OF THE C I TY OE PAR I S:
<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 $1,000,000, for the purpose of paying, in whole
<br /> or in part, contractual obligations for constructing and
<br /> ~improving the City's Solid Waste Disposal System, to-wit:
<br /> jclosure of old municipal land fill area and acquisition,
<br /> ~construction and improvement of new municipal land fill area,
<br /> land for paying all or a portion of the legal, fiscal and
<br /> Iengineering fees in connection with this project
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<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 SOLID WASTE DISPOSAL SYSTEM REVENUE CERTIFICATE OF
<br /> ~OBLIGATION, SERIES 1984", and initially there shall be issued,
<br /> tsold, and delivered hereunder a single fully registered certi-
<br /> ~ficate of obligation, without interest coupons, payable in
<br /> ~installments of principal (the "Initial Certificate of Obliga-
<br /> ;tion"), but the Initial Certificate of Obligation may be
<br /> ~assigned and transferred and/or converted into and exchanged
<br /> ~for a like aggregate principal amount of fully registered
<br /> ~certificates of obligation, without interest coupons, having
<br /> ~serial maturities, and in the denomination or denominations of
<br /> ~$5,000 or any integral multiple of $5,000, all in the manner
<br /> hereinafter provided. The term "Certificates of Obligation" as
<br /> ~used in this Ordinance shall mean and include collectively the
<br /> ~Initial Certificate of Obligation and all substitute certifi-
<br /> ~cates of obligation exchanged therefor, as well as all other
<br /> { substitute certificates of obligation and replacement certifi-
<br /> ~cates of obligation issued pursuant hereto, and the term
<br /> ~"Certificate of Obligation" shall mean any of the Certificates
<br /> ~ of Obligation.
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