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ORDINANCE N0. 1410
<br />AN ORDINANCE RECOGNIZING CANTRACT BY AND BETWEEN CIVIL AERONAUTICS
<br />ADMINISTRATION OF THE GOVERN141ENT OF THE UNITED STATES FOR THE PARTICIPATION
<br />OF CERTAIN RORTIONS OF THE EXPENSE OF THE ERECTION OF AN AIR TERMINAL BUILD-
<br />ING FOR THE CITY OF PARIS ON COX FIELD, AND FURTHER RECOGNIZING THE CANTRACT
<br />BETWEEN THE CIVIL AERONAUTICS ADMINISTRATION OF THE UNITID STATES OF ANfERICA
<br />AND TI-E CITY OF PARIS, JOINTLY, WITH M. D. MISSO, FOR THE GDNSTRUCTION OF
<br />SAID AIR TERMINAL FACILITIESI AND PROVIDING FUR THE ISSUANCE OF TIME WARRANTS
<br />FOR THE PAYNENT GF THE RORTION OF THE CONTRACT PRICE TO BE CONTRIBUTED BY THE
<br />CITY OF PARISI WHICH PORTION OF THE COSTS TO BE PAID BY THE CITY OF PAAIS IS
<br />$409000o002 AAID PROVIDING FOR THE LEVYING AND COLLECTIUN OF AD VALOREM TAX
<br />AND CREATION OF A SINKING FUND FOR THE PAYIvENT OF SUCH TIME WARRANTS AND THE
<br />PAYMENT Or ACCRUED INTERE5T THEREON.
<br />WHEREASt the City Council of the City of Paris has heretofore entered
<br />into a contract with the Civil Aeronautics Administration, whereby the City
<br />of Paris and the Civil Aeronautics Administration agree to erect at Cox Field
<br />a Terminal Building and certain entrance roads, water, sewer, auto paxking,
<br />apron lighting, turfings and feqcing, all known as Project No. 9-41=149-601;
<br />and,
<br />WHEREAS, the City of Paris and the Civil Aeronautics Administration
<br />of the United States of America have heretofore entered into a contract with
<br />Ma DQ Misso for the construction of an air terminal building and the entrance
<br />road and other termina], faci2ities; and,
<br />WHEREAS, the construction of same is necessary for the best interests
<br />of the City of Paris; andp
<br />WHEREAS, it is necessary that time warrants be issued by said City
<br />of Paris, in the amount of $40,000.00, in payment of azd for a portion of its
<br />proportionate part of the contract price for the construction of said air
<br />terminal building and facilit ies incident thereto; NOW, THEREFOAE,
<br />BE IT ORDAINED BY TF-E CITY COUNCIL OF THE CITY OF PARIS:
<br />1, That time warrants of the City of Parisp Texasg payable to bearerg
<br />be issued in the aggregate amount of $40,OOOo00, providing funds for the
<br />aforesaid obligation, as follows:
<br />No. One, for the sum of Foux Thousand and No/100 Dollars
<br />($4,000,00), dated August 5, A. D., 1957, payable to bearert
<br />due on or before August 5, A. D.v 1958, and bearing interest
<br />from date until paid, at the rate of four per cent (451.) per
<br />annum, interest payable annually as it accrues,
<br />Noo Two, for the sum of Four Thousand and No/100 Dollars
<br />($4,000,00), dated August 5. A. D., 1957, payable to
<br />bearer, due on or before August 5, Aa Doy 1959, and bearing
<br />interest from date until paid, at the rate of four per cent
<br />(4~6) per annsam, interest payable annually as it accrues.
<br />Noo Three, for the sum of Four Thousand and N01100 Dollars
<br />($4,000,00), dated August 59 A. D,, 1957, payable to bearerp
<br />due on or before August 5, A. Do9 19609 and bearing interest
<br />from date until paid, at the rate of four per cent (41. per
<br />annum, interest payable annually as it accrueso
<br />Noo Four, for the sum of Four Thousand and No/100 Dollars
<br />($4,000,00), dated August 5. Ao D.q 1957, payable to bearero
<br />due on or before August 5. A. D.I, 1961t and bearing interest
<br />from date until paid, at the rate of four per cent (4;/) per
<br />annum, interest payable annually as it accruesa
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