2128 ORD AUTHORIZING ISSUANCE OF REVENUE BONDS

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ORDINAN„E AUTHORIZING THE ISSUANCE OF REVENUE BONDS THE STATE OF TEXAS , COUNTY OF LAMAR , CITX OF PARIS ; DESCRIPTIVE CAPTION ORDINANCE N0. 2128 BY THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS, AUTHORIZING THE ISSUANCE AND DELIVERY OF: CITY OF PARIS WATERWORKS AND SEWER SYSTEM REVENUE BONDS, SERIES 1973-A, $295,000; PLEDGING THE REVENUES OF THE CITY'S WATERWORKS AND SEWER SYSTEM TO THE PAYNIENT OF THE PRINCIPAL AND IN- TEREST OF SAID BONDS; AND ORDAINING OTHER N~2ATTERS PERTAINING THERETO. WHEREAS, the bonds hereinafter authorized were duly and favorably voted at an election held in said City on the 16th day of November, 1971; and WHEREAS, the bonds hereinafter authorized are to be issued and delivered pursuant to Vernon's Articles 1111 through 1118; and WHEREAS, Texas Water Development Board is the oi,mer and holder of City of Paris Waterworks and Sewer System Junior_ Lien Revenue Bonds, Series 1966, and in accordance with the ordinance authorizing said bonds, must approve the issuance of the proposed bonds; and WHEREAS, it is hereby officially found and determined that the extensions of the City's Sewer System to be constructed with the proceeds of these bonds are necessary and economically feasible; and WHEREAS, it is hereby officially found and determir.ed that a case of emergency or urgent public necessity exists which requires the holding of the meeting at which this Ordinance is passed, such emergency or urgent public necessity being that the proceeds from the proposed bonds are required as soon as possible and without delay for necessary and urgently needed public im- provements; that said meeting was open to the public, and public notice of the time, place and purpose of said meeting was given, all as required by Vernon's Anno Civa St, Article 6252-170 BE IT ORDAINED BY THE CITY COUNCIL OF THE C3TY OF PARIS: Section lo That said City's bonds, to be designated the "City of Paris Waterworks and Sewer System Revenue Bonds, Series 1973-A," are hereby authorized to be issued and delivered in the principal amount of $295,000, for the purpose of improv- ing and extending said City's Sewer System, Section 2. That said bonds shall be dated January 1, 1973, shall be in the denomination of $5,000 each, shall be numbered consacutively from 1 through 59, and shall mature serially on July I in each of the years, and in the amounts, respectively, as set forth in the following schedule, to-wit: