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<br />oxDINarrCE Noo 1260
<br />ANIEIL'DING AN ORDINANCE
<br />ENTITLED
<br />"ORDIPuANCE NO • 1259 BY '1'HE CITY COUNCIL 0F THE CITY OF
<br />PARIS, TEXAS, PNOVTDING FOR THE ISSUAPJCE OF CITY OF
<br />PARIS, T.EXAS, WATERWORKS AND SEWER IAFjPROV~.r1~lENT AND EX-
<br />TENSIUN REVENUE BONDS, SEPIES 1952,, IN THE ACYGREGATE
<br />AMOUNT OF ~550,000,00, HEARING INTEREST AT T?-IE RATES
<br />F-EREIn'AFTER SET FORTH; TQ SECURE FUNDS FOR TF-E PUR°OSE
<br />OF IMI}ROVIIvG AND EXTENDING THE CITY'S WATERWORKS AI~'D
<br />SEWER SYSTEIvI- PRESCRIBING TI-C FORNI OF DOND; PI,EDGING
<br />THE REVENUES UF T HE CITYt S'rdATERWORiiS AND SEWER SYSTIIVi
<br />TO THE F'AY1,01T OF TIE ?'RINCIPAL AND INI'EREST OF SAID
<br />BONPS; PROVTDRTG FOR TfIE E~.':ENSE 0F OPERATING SAID
<br />SYSTEM; MAKING CERTAIIV COVF;NA1VTS OF THE CITY IN RF,FER-
<br />EA1CE TO THE BOIITDS AND THE BOT<D FUND rRUM WHICH SAID
<br />PRINCIPAL A:ID I1'UEREST ILRE TO HE 1 AID; FROVIDING THAT
<br />iN.E HOLDER OR HOLLEIZS OF SAI DBONDS SHALL NEVER HAVE
<br />TIiE RIGHT TU L'EN~APM PAYTi.r~NT OF SAID OBLIGATIOIVS OU7' OF
<br />ANY FtJNDS RAISED Ort TG I-E RAISED BY TAXATION, AND RE-
<br />PEALI"dC AlZ OFiDINANCES IN CONFLICT I21RhWI'THo"
<br />1r;rEREAS, heretofore on the 13th day of Decenber, 1951,
<br />the City Council of the City of Paris, Texas, passed an ordinance authoriz-
<br />ing the issuance of Five Hu:iared Fifty Thousand ($55e,000.00) Dollars, City
<br />of Faris, Texa,s, Waterworks and Sewer Improvement and Extension Revenue
<br />Bonds, Series 1952, cUted Januaxy 1, 1952, bearirg interest at the rates as
<br />follows:
<br />} Bonds Nos. 1 to 345, both incl., 2-3/4% per annum;
<br />,a Bonds Nos, 346 to 5501 „ " 3% per annum,
<br />numbered One (1) to Five Hundred Fifty (550), both inclusive, of the denomi-
<br />na.tion of One Thousand (~1,000.00) Dollars each, and maturing seria.lly through-
<br />out the years 1952 to 1972, both inclusive, which urdinance is duly of record
<br />in the minutes of the City Council; and
<br />WHEREr1S, it is necessaxy to amend said original ordinance;
<br />BE IT ORDAINED BY TIE CTTY (70UNCIL OF THI; CITX OF PARIS:
<br />1, That Section 2 of said original ordinance be amended
<br />so as hereafter ta be and read as fcllows:
<br />112. That said bonds shall be dated Jani::a.ry 1, 1952, and
<br />shallbear ir_terest at the ra+,e of Two and three-fourths (2-3/4%) per
<br />cert per annwn, payable July 1, 1952, and semi-annually thereafter on
<br />January lst 2.nd Ja13T lst of aa.ch year; principal a.nd i-nterest of said
<br />bonds shall be payable iri lawful money of the United States upon presen-
<br />tation and surrender of bond or proper coupon at tha First Nat4onal
<br />Bank in Dalla.s, Dalla.s, Te.xas, or at the option of the holder, at the
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