Laserfiche WebLink
RE5OLUTI01V NQ. 1152 . <br />RESOLUTION AUTHORIZING THE CITY MANAGER TO .FILE A <br />FORNLA.L APPLICATIQN FOR THE SALE OF $2, 300, 000. 00 <br />WORTH OF ViTATER AND SEWER REVENUE SONDS WiTH T'rIE <br />TEXAS WATER DEVE.LOPMENT BQARD, <br />WrIEREAS, the City of Paris has recently undertaken and has contracted <br />with the United 5tates Corps of Engineers for water storage in Sanders Creek <br />Project, known as "Pat Mayse Reservoir", to be used as a municipal water <br />supply for said City; and, <br />WHEREAS, the City of Paris did, on the 21st day of September, A.D,,, <br />1965, hold an election within the City of Paris, wnerein the qualified voters <br />voted to authorize the issuance of $2, 500, 000. 00 in water and sewer im7rove- <br />ment revenue bonds; and, <br />WHEREAS, the CityDS present source of income will not, according to <br />the advice of the financial advisors of the City of Paris, justify the sale of <br />$2, 300, 000. 00 worth of said bonds as first lien revenue bonds, and that the <br />sale of the same as junior lien revenue bonds wi.ll be extremely expensive to <br />the Ci.ty of Paris; and, <br />WHEr_'Z,E.A5, the City of Paris has heretofore filed its intention with the <br />Texas Water Developme.nt Board to sell to the Texas Water Development Board <br />the amount of $2, 300, 000. 00 in revenue bonds; and, <br />WHEREAS, under said Texas Water Developme.nt Board rules it is <br />necessary that a formal application, accompanied by certain information re- <br />quired by the rules of said Board be filed with the Texas Water Development <br />Board; NOW', THEREFORE, <br />BE IT RESOLVE7 BY THE CITY COUNCIL OF THE CITY OF PARIS, <br />TEX.AS : <br />Section 1. That H. C, Kennemer, City Manager, be, and he is hereby <br />authorized and directed to file said application for the sale of said bonds to <br />the Texas Water Development Board to finance the watersupply line and various <br />other requirements to bring water from Lake Pat Mayse to the City of Paris for <br />domestic and cominercial use. <br />Section 2. That he is further authorized to furnish to the Texas W ater <br />Development Board all information available and requtred hy the Texas Water <br />Development Board in support of such application. <br />Passed and adopted this 29th day of Sep e er, A. D, , 1965. <br />. , <br />A T T ES T: M,ayo r <br />~ City Clerk ~ <br />APPROVED AS TO FORM: <br />f'/ J <br /> <br />- . City Atto r ey. <br />~ <br />