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ORDINANCE No. 2013 -024
<br />AUTHORIZING THE ISSUANCE AND SALE OF CITY OF PARIS, TEXAS GENERAL
<br />OBLIGATION BONDS, SERIES 2013; LEVYING AN ANNUAL AD VALOREM TAX FOR
<br />THE PAYMENT OF SAID BONDS; APPROVING AN OFFICIAL STATEMENT; AND
<br />ENACTING OTHER PROVISIONS RELATING TO THE SUBJECT
<br />THE STATE OF TEXAS §
<br />LAMAR COUNTY §
<br />CITY OF PARIS §
<br />WHEREAS, at an election in the City of Paris, Texas (the "Issuer ") held on May 11, 2013 (the
<br />"Election "), the voters of the Issuer approved the issuance of tax bonds by the Issuer in the aggregate
<br />principal amount of $45,000,000 for the purpose of constructing and acquiring improvements and
<br />equipping the Issuer's waterworks and sewer system, to -wit: for replacing and extending water
<br />distribution lines and sewer collection lines and constructing repairs to streets and drainage
<br />infrastructure necessitated by such water and sewer line construction;
<br />WHEREAS, the City Council of the Issuer deems it necessary and advisable to authorize, issue
<br />and deliver $35,000,000 (including principal and premium) of said voted bond authorization from the
<br />Election for the purposes stated in the preceding paragraph, thereby leaving $10,000,000 of voted but
<br />unissued bond authorization from the Election;
<br />WHEREAS, the Bonds hereinafter authorized are to be issued, sold and delivered pursuant to
<br />the general laws of the State of Texas, including Tex. Gov't Code Ann. Chapter 1331, as amended;
<br />and
<br />WHEREAS, It is officially found, determined, and declared that the meeting at which this
<br />Ordinance has been adopted was open to the public and public notice of the time, place and subject
<br />matter of the public business to be considered and acted upon at said meeting, including this
<br />Ordinance, was given, all as required by the applicable provisions of Tex. Gov't Code Ann. ch. 551;
<br />Now, Therefore
<br />BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS:
<br />Section 1. RECITALS, AMOUNT AND PURPOSE OF THE BONDS. The recitals set forth
<br />in the preamble hereof are incorporated herein and shall have the same force and effect as if set forth
<br />in this Section. The bonds of the Issuer are hereby authorized to be issued and delivered in the
<br />aggregate principal amount of $33,925,000 for replacing and extending water distribution lines and
<br />sewer collection lines and constructing repairs to streets and drainage infrastructure necessitated by
<br />such water and sewer line construction (the "Project "), and to pay the costs incurred in connection
<br />with the issuance of the Bonds.
<br />Section 2. DESIGNATION, DATE, DENOMINATIONS, NUMBERS, AND MATURITIES
<br />AND INTEREST RATES OF BONDS. Each bond issued pursuant to this Ordinance shall be
<br />designated: "CITY OF PARIS, TEXAS, GENERAL OBLIGATION BONDS, SERIES 2013," and
<br />initially there shall be issued, sold, and delivered hereunder one fully registered bond, without interest
<br />coupons, dated July 1, 2013, in the principal amount stated above and in the denominations hereinafter
<br />stated, numbered T -1, with bonds issued in replacement thereof being in the denominations and
<br />principal amounts hereinafter stated and numbered consecutively from R -1 upward, payable to the
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