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2010-010 ORD ISSUANCE AND SALE OF COP TEXAS COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATIONS, SERIES 2010
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2010-010 ORD ISSUANCE AND SALE OF COP TEXAS COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATIONS, SERIES 2010
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CITY CLERK
CITY CLERK - Date
3/8/2010
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ORDINANCE AUTHORIZING THE ISSUANCE AND SALE OF CITY OF PARIS, TEXAS <br />COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION, SERIES 2010; <br />LEVYING AN ANNUAL AD VALOREM TAX FOR THE PAYMENT OF SAID <br />CERTIFICATES; APPROVING AN OFFICIAL STATEMENT; AND ENACTING OTIiER <br />PROVISIONS RELATING TO THE SUBJECT <br />STATE OF TEXAS <br />COUNTY OF LAMAR <br />CITY OF PARIS <br />WHEREAS, the City Council of the City of Paris, Texas (the "Issuer") deems it advisable to <br />issue Certificates of Obligation in the amount of $3,005,000 for the purpose of paying a11 or a portion <br />of the Issuer's contractual obligations incuned in connection with improving and expanding South <br />Collegiate Drive and making improvements to the frontage access for South Collegiate Drive and <br />paying legal, fiscal, engineering and architectural fees in connection with such project; and <br />WHEREAS, the Certificates of Obligation hereinafter authorized and designated are to be <br />issued and delivered for cash pursuant to Subchapter C of Chapter 271, Local Government Code and <br />Chapter 1502, Government Code, as amended; and <br />WHEREAS, the City Council has heretofore passed a resolution authorizing and directing the <br />City Clerk to give notice of intention to issue Certificates of Obligation; and <br />WHEREAS, said notice has been duly published in a newspaper of general circulation in said <br />City, said newspaper being a"newspaper" as defined in §2051.044, Texas Government Code; and <br />WHEREAS, the City received no petition from the qualified electors of the City protesting <br />the issuance of such Certificates of Obligation; and <br />WHEREAS, it is considered to be to the best interest of the City that said interest bearing <br />Certificates of Obligation be issued. <br />BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PARIS: <br />Section 1. RECITALS, AMOUNT AND PURPOSE OF THE CERTIFICATES. The <br />recitals set forth in the preamble hereof are incorporated herein and shall have the same force and <br />effect as if set forth in this Section. The certificates of the City of Paris, Texas (the "Issuer") aze <br />hereby authorized to be issued and delivered in the aggregate principal amount of $3,005,000 for the <br />purpose of paying all or a portion of the Issuer's contractual obligations incurred in connection with <br />improving and expanding South Collegiate Drive and making improvements to the frontage access <br />for South Collegiate Drive and paying legal, fiscal, engineering and architectural fees in connection <br />with such project (collectively, the "Project"). <br />Section 2. DESIGNATION, DATE, DENONffNATION5, NLTMBERS, MATURITIES OF <br />CERTIFICATES AND INTEREST RATES. Each certificate issued pursuant to this Ordinance shall <br />
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