12&13-LOW-COST WATER SYSTEM IMPROVEMENTS

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ORDINANCE AUTHORIZING THE ISSUANCE OF CITY OF PARIS, TEXAS COMBINATION TAX AND SURPLUS REVENUE CERTIFICATES OF OBLIGATION, SERIES 2013, IN THE PRINCIPAL AMOUNT OF $2,900,000 AND AWARDING THE SALE OF SUCH CERTIFICATES OF OBLIGATION TO THE TEXAS WATER DEVELOPMENT BOARD STATE OF TEXAS COUNTY OF LAMAR CITY OF PARIS WHEREAS, the City Council of the City of Paris, Texas (the "Issuer") deems it advisable to issue certificates of obligation (the "Certificates of Obligation" or the "Certificates") in the amount of $2,900,000 to provide funds to pay costs of improving the Issuer's potable water distribution system, to-wit: water line replacements forthe Issuer's potable water distribution system and to pay legal, fiscal, engineering and architectural fees in connection with such project; and WHEREAS, the Certificates of Obligation hereinafter authorized and designated are to be issued and delivered for cash pursuant to Subchapter C of Chapter 271, Texas Local Government Code, as amended, and Chapter l 502, Government Code, as amended; and WHEREAS, the City Council has heretofore passed a resolution authorizing and directing the City Clerk to give notice of intention to issue the Certifcates of Obligation; and � WHEREAS, said notice has been duly published in a newspaper of general circulation in the Issuer, said newspaper being a"newspaper" as defined in § 2051.044, Texas Government Code, as amended; and WHEREAS, the Issuer received no petition from the qualified electors ofthe City protesting the issuance of such Certificates of Obligation; and WHEREAS, it is considered to be to the best interest of the City that said Certificates of Obligation be issued. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PARIS: Section 1. RECITALS, AMOUNT AND PURPOSE OF THE CERTIFICATES. The recitals set forth in the preamble hereof are incorporated herein and shall have the same force and effect as if set forth in this Section. The Certificates of Obligation of the City of Paris, Texas are hereby authorized to be issued and delivered in the aggregate principal amount of $2,900,000 to provide funds to pay costs of improving the Issuer's potable water distribution system, to-wit: water line replacements for the Issuer's potable water distribution system and to pay legal, fiscal, engineering and architectural fees in connection with such project (the "Project").