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~ • " • • ~ <br />ORDINANCE N0. 1598 <br />BY THE CITY COUNC'L OF THE CITY OF PARIS, <br />TExAS, CALLING AN Ei,ECTION ON THE PRQPJSI- <br />TION OF THE ISSU.ANCE OF $400}000.00 SEWER <br />IMPROVEMENT AND EXTENSION REVENUE B4NDS. <br />WHEREAS, the City Council of the City of Paris, Texas, <br />deems it advisable to issue the bor.ds of said City for the purpose herein- <br />after mentioned; <br />BE IT ORDAINED BY THE CITY COUNCIL OF T8E CTTY 0F <br />PARIS, TEXAS: <br />1. That an election be held in said Cii;y of Paris, <br />Texas, an the bth day oP S eptember~ 1962, at which election the follow- <br />ing proposition shail be submitted: <br />"Shall the City Council of the City of Paris, <br />Yexas, be authorized to issue the bonds of said City in <br />the amount of $400,000.00, maturing serially in such in- <br />staliments as may be fixed by the City Council, the maxi- <br />mum maturity being not more than Thirty (30) years from <br />their dat-e, bear::ng interest at a rate not to exceed Faur <br />and one-half (40) per cent per annum, for the purpose of <br />improving and extending the City's Sewer System, to be <br />iasued in accordance with and secured in the manner pro- <br />vided in Articles 1111-1118, bath inclusive, of the Re- <br />vised Civil Statutes oP Texas, 1925, as amended, each <br />bond to be conditioned that the hoZder zhereof shall never <br />have the right to demand payment of said obl3gations out <br />oP funds raised or to be raised by tsxation, secured by <br />a pledge of the net revenues from the operation of the <br />City`s Waterworks and Sewer System. The probable period <br />of usefulness being 50 years." <br />2. That said election shall be held at- the following <br />places within said City, and the following named persons are hereby ap- <br />pointed directors of said election, to-wit: <br />In Ward No. 1 at the Central Fire Stati.on <br />, with the folZowing directors: <br />Ivirs. R. C. Bearden ~ Presiding Judge, <br />Mr. R. C. Bearden ~ Judge, <br />Mrso L. B. Killebrew ~ Clerk, <br />Mrs. R. H. Lower , Clerk. <br />In Ward Vo. 2 at the Grand Hotel Lobby <br />, with the fcllowing directors: <br />Mrs. Hugh Collins Presidir.g eTudgP, <br />Mr. Hugh Collins ~ Judge <br />