1415 ORD RECOGNIZING EXISTING OBLIGATION OF COP

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ORDINANCE N0. 1415 0 AN URDTNANCE RECQGNIZING THE EXISTING OBLIGATIUN OF THE CITY OF PARIS, JOINTLY WITH THE CIVIL AERONAUTICS ADrdINISTRATION OF THE GOVERNMENT GF THE UNITED STATE5, FOR THE ERECTION CF AN AIR TERMINAL BUILDING AT GOX FIELD AND THE FACILITIES IN CONNECTION THEREVYITH, AND DIRECTING THAT NOTICE BE GIVEN THAT TIME WARRANTS BE ISSUEll IN THE AMOUNT OF $40,000.00. WHEt-~EAS, the City Council of the City of Paris has heretofore en- tered into a contract with the Civil Aeronautics administration, whereby the City of Paris and the Civil Heronautics Administration agree to erect at Cox Field a Termina.l Building and certain entrance roads, water, sewer, auto parking, apron lighting, turfing, and fencing, all knotm as Project iio. 9-41-149-570~; and, WHEREAS2 the Ci-ty of Paris and the Civil Aeronautics Administration of the United States of America have heretofore entered into a contract with M. D. Niisso for the construction of an air terminal building and the entrance road and other terminal facilities; andi WHEREAS$ the construction of same is necessary for the best interests of the City of Paris; and, WHEREASp it is necessary that time warrants be issued by said City of Paris, in the amount of $40,000.00, in payment of and for a portion of its proportionate part of the contract price for the construction of said air terminal building and facilities incident thereto; NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PARIS: That the Acting City Clerk be, and he is hereby directed to publish the notice of intention of the City of Paris to issue $402000.00 in time warrantst same to be issued on September 3, 1957, with a maximum maturity date of ten (10) years from the date of issuance and at an interest rate not to exceed four per cent (4;5) per annum, and that said notice be published in the Paris News as required by Article 2368 of the Revised Civil Statutes of Texas, Passed and adopted, this the 14th day of August, Ao D., 1957, ATTEST: , Acting City Clerk APPKOVED AS TO FORNi. City Attorney. .r:=....-.. Mayor