1810 ORD DIRECTING OPENING OF STREET, IMPROVING SAME WITH CONCRETE CURB AND GUTTER AND DRAINAGE STRUCTURES

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ORDINANCE NOp 1810 . AN ORDINANCE DIRECTING THE OPENING OF A STREET, IMPROV- ING THE SAME WITH CONCRETE CURB AND GUTTER AND DRAINAGE STRUCTURES, EXTENDING FROM GRAHAM STREET, EAST TO THE WEST BOUNDARY LINE OF NORTH MAIN 5TREETp WHERE THE SAME WILL IN- TERSECT WITH PINE BLUFF STREET; PROVIDING FOR THE RECEIPT OF BIDS FOR THE CONSTRUCTION QF SAID STREET, CURB AND GUTTER,Q AND DRAINAGE STRUCTURES, AND ENGINEERING SERVICES, ON FEBRUARY 3, 1967, AT THE CITY COUNCIL ROOM9 IN THE CITY HALLg IN THE CITY OF PARIS; PROVIDING FOR THE ISSUANCE OF TIME WARRANTS FOR THE PAYMENT QF THE CONTRACT PRICE OF SAID STREET EXTEN- SION AND IMPROVEMENTS SY THE CITY OF PARISs IN AN AMOUNT OF $603% 000. 00, TO BE ISSUED IN THREE TIME WARRANTS OF THE DENOMINA- TIQN OF $202 000. 00 EACHy THE FIRST PAYABLE QNE YEAR FROM THE DATE OF ISSUANCEp THE 5ECOND PAYABLE TWO YEARS FROM THE DATE OF ISSUANCE, AND THE THIRD PAYABLE THREE YEARS FROM THE DATE OF ISSUANCE; SAID TIME WARRANTS TO BEAR INTEREST AT THE RATE OF 4°o PER ANNUM FROM THE DATE OF SALE. WHEREAS, the CityCouncilaf the City of Paris has heretofore deter- mined that it is necessary and to the best interests of the City of Paris to ex- tend Graham Street, East, so that the same will intersect with the West Line of North Main Street, immediately opposite the spot where Pine Bluff Street intersects the E. B. Line of North Main Street; andp WHEREASa right of way has been procured by the City of Paris for the opening of said street; ands WHEREAS, the Professional Engineera Robert Hayter, has submitted plans and specifications for the extension and construction of said street; ands WHEREAS9 said plans and specifications havebeen approved by the City Council of the City of Paris; and, WHEREASp the City Council has determined thzt the construction of such street is necessary for the best interests of the City of Paris; NOW,, THER EFOR E,, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PARIS; 1. That the City of Paris advertise for and receive bids for the con- struction of said street, curb and gutter, drainage structures, engineering ser- vices, and incidental construction to complete such work; said bids to be re- ceived at 7:00 o=clock P. M. on Febru,ary 3, 1967, at the Council Rooms in the City HalZ of the City of Paris9 Texas. 2. That time warrants of the City of Paris, Texas, payable to bearer, be issued in an aggregate amount not to exceed $602 000. 00, providing funds for the aforesaid obligatinn_ acz fe%1i--