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<br /> 3. That said Certificates of Obligation shall bear from
<br /> their date to their respective maturities, or to their respective
<br /> date of redemption prior to maturity at tne rate of 8.00;; per annum
<br /> to April 15, 1983 and at the rate of 10.00% per annum from and
<br /> af'ter Aprii 15, 1_983 unt--i maturity or rerlemption prior to
<br /> maturity. ,~aid interst shali be evide~ZCed by interest coupcns
<br /> which shall appertain to said Certificates of Obligation, and
<br /> which shall be payable in the manner provided and on the dates
<br /> stated in the FORM OF CERTIFICATE set forth in this Ordinance.
<br /> 4. That said Certificates of Obligation and interest
<br /> coupons shall be issued, shall be payable, may be redeemed prior
<br /> to their scheduled maturities, shall have the characteristics and
<br /> shall be signed and executed (and said Certificate shall be
<br /> sealed), all as provided, and in the manner indicated, in the FORM
<br /> OF CERTIFICATE set forth in this Ordinance.
<br /> 5. That the form of said Certificates of Obligation,
<br /> including the form of Registration Certificate of the Comptroller
<br /> of Public Accounts of the State of Texas to be printed and endorsed
<br /> on each of said Certificates, and the form of the aforesaid '
<br /> interest coupons which shall appertain and be attached initially
<br /> to each of said Certificates, shall be, respectively
<br /> substantially as follows:
<br /> FORM OF CERTIFICATE
<br /> No. $5,000
<br /> UNITED STATES OF AMERICA
<br /> STATE OF TEXAS
<br /> COUNTY OF LAMAR
<br /> CITY OF PARIS, TEXAS
<br /> CEF.T IF? CnTE OF OBL I GAT I ON
<br /> SERIES 198i
<br /> ON APRIL 15, 1981, THE CITY OF PARIS, COUNTY OF LAMAR, STATE
<br /> OF TEXAS, promises to pay to bearer hereof the principal amount of
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<br /> FIVE THOUSAND DOLLARS
<br /> and to pay interest thereorx, from the date hereof, at the rate of
<br /> 8.00% per annum to April 15, 1983, and at the rate of 10.00% per
<br /> annum from and after April 15, 1983, evidenced by interest coupons
<br /> payable on April 15, 1982, and semiannually thereafter, while
<br /> this Certificate is outstanding.
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<br /> THE PRINCIPAL of this Certificate of Obligation and the
<br /> interest coupons appertaining hereto shall be payable to bearer,
<br /> in lawful money of the United States of America, without exchange
<br /> or collection charges to the bearer, upon presentation and
<br /> surrender of this Certificate of Obligation or proper interest
<br /> coupons at the following, which shall constitute and be defined as
<br /> the "Paying Agent" for this Series of Certificates:
<br /> THE LIBERTY NATIONAL BANK, PARIS, TEXAS
<br /> THIS CERTIFICATE OF OBLIGATION is one of a series dated as of
<br /> April 15, 1981, issued in the principal amount of $650,000, for
<br /> the purpose of paying, in whole or in part, contractual
<br /> obligations for improvements and extensions to the City's Sewer
<br /> System, to-wit: to provide $115,000 to purchase land, rights of
<br /> way and easements, to provide $520,000 to pay professional
<br /> services for engineering studies, reports and plans, and to
<br /> provide $15,000 to pay for legal and fiscal fees in connection
<br /> with this project.
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