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<br /> <br /> <br /> <br /> <br /> <br /> FORM OF INTEREST COUPON <br /> NO. $ <br /> <br /> <br /> <br /> THE CITY OF PARIS, COUNTY Or LAMAF., STATE OF TEXAS, promises <br /> to pay to bearer tne amount snown on this interest coupon in lawrul ' <br /> money of the United States of America, without exchange or <br /> collection charges to the bearer, unless due provision has been <br /> made for redemption prior to maturity of the Certificate to which <br /> this interest coupon appertains, upon presentation and surrender <br /> of this interest coupon at THE LIBERTY NATIONAL BANK, PARIS, <br /> TEXAS, said amount being interest due that day on the Certificate <br /> of Obligation bearing the number hereinafter designated, of that <br /> issue of CITY OF PARIS, TEXAS CERTIFICATES OF OBLIGATION, SERIES <br /> 1981, dated April 15, 1981. Certificate of Obligation No. <br /> XXXXX XXXXX <br /> City C1erk Mayor <br /> 6. That a special "Interest and Sinking Fund" is <br /> hereby created and shall be established and maintained by <br /> the City at an official depository bank of said City. Said <br /> Interest and Sinking Fund shall be kept separate and apart <br /> from all other funds and accounts of said City, and shall be <br /> used only for paying the interest on and principal of said <br /> Certificates of Obligation. All ad valorem taxes levied and <br /> collected for and on account of said Certificates of Obliga- <br /> tion shall be deposited, as collected, to the credit of said <br /> Interest and Sinking Fund. During each year while any of <br /> said Certificates of Obligation or interest coupons apper- <br /> taining thereto are outstanding and unpaid, the City Council <br /> of said City shall compute and ascertain a rate and amount <br /> oz ad valorem, tax which wili be sufficient to raise and <br /> produce the money required to pay the interest on said <br /> Certificates of Obligation as such principal matures (but <br /> never less than 2% of the original amount of said Certificates <br /> of Obligation as a sinking fund each year); and said tax <br /> shall be based on the latest approved tax rolls of said <br /> City, with full allowances being made for tax delinquencies <br /> and the cost of tax collection. Said rate and amount of ad <br /> valorem tax is hereby levied, and is hereby ordered to be <br /> levied, against all taxable property in said City, for each <br /> year while any of said Certificates of Obligation or interest <br /> coupons appertaining thereto are outstanding and unpaid, and <br /> said tax shall be assessed and collected each such year and <br /> deposited to the credit of the aforesaid Interest and Sinking <br /> Fund. Said ad valorem taxes sufficient to provide for the <br /> payment of the interest on and principal of said Certificates <br /> of Obligation, as such interest comes due and such principal <br /> matures, are hereby pledged irrevocably for such payment, <br /> within the limit prescribed by law. <br /> 7. That the Mayor and the City Clerk are hereby ordered <br /> to do any and all things necessary to accomplish the transfer <br /> of monies to the Interest and Sinking Fund of this issue in <br /> ample time to pay such items of principal and interest. <br /> 8. That the Mayor of said City is hereby authorized to <br /> have control of said Certificates of Obligation and all <br /> necessary records and proceedings pertaining to said Certi- <br /> ficates of Obligation pending their delivery and their <br /> investigation, examination and approval by the Attorney <br /> General of the State of Texas, and their registration by the <br /> Comptroller of Public Accounts of the State of Texas. Upon <br /> registration of said Certificates said Comptroller of Public <br /> Accounts (or a deputy designated in writing to act for said <br />