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9?4 Mr. Don McLaughlin, Attorney, appeared before the Council in behalf of the L. P. McCuistion Community Hospital and the St. Joseph *Hospital, requesting the creation of a Hospital Authority by the City for the purpose of issuing securities with which to purchase properties to be operated for the care and needs of the sick. Mr. Mc- Laughlin presented the following resolution: WHEREAS, the governing boards of L. P. McCUISTION COMMUNITY HOSPITAL and ST. JOSEPH HOSPITAL having in their respective meetings given serious, consideration to the advisability of requesting you to create a hospital authority for the purpose of issuing securities with which to purchase properties to be operated for the care and needs of the sick of our community, said properties to be leased to operating groups; and WHEREAS, it is the opinion of the governing boards of each of said hospitals that by this means the permanent financing of capital im- provements for each of said hospitals can be obtained at a lesser cost than otherwise, and such will ultimately inure to the benefit of the residents of Paris, Texas and its environs; THEREFORE, BE IT RESOLVED that each of said hospitals respectfully request that you establish, pursuant to the statutes of the State of Texas, a hospital authority with the power to issue revenue bonds with no obligation on the part of the City of Paris to repay, for the purpose of acquiring properties used to treat the physical well being of citizens of Paris and. its environs. The foregoing resolution has been passed by the governing boards of each L. P. McCuistion Community Hospital and St. Joseph Hospital. Those present representing the hospitals were Mr. F. I.. McClanahan, Mr. Curtis Fendley, Mr. Lee Ellis, Mr. Louis Robertson, and Mr. Peter Tart of the firm of McCall, Parkhurst and Horton. After discussion, Ordinance No. 2320: "AN ORDINANCE OF THE CITY OF PARIS, PARIS, TEXAS, DECLARING A NEED FOR A HOSPITAL AUTHORITY, CREATING A HOSPITAL AUTHORITY UNDER AND BY VIRTUE OF THE POWERS CONFERRED UPON SAID CITY BY THE HOSPITAL AUTHO- RITY ACT; DESIGNATING THE NAME BY WHICH SAID AUTHORITY SHALL BE KNOWN; DEFINING THE BOUNDARIES THEREOF, ENACTING PROVISIONS INCIDENT AND RELATED TO THE SUBJECT AND PURPOSE OF THIS ORDINANCE." was presented. A motion was made by Councilman Fisher and seconded by Councilman Philley for the adoption of the ordinance. The motion carried: 6 ayes, 0 nays. Mr. Robert Hayter, consulting engineer for the City of Paris, presented a Water and Sewer Rate Study and Report. Among his recommendations were the following: "The study recommends the two -stage implementation of the proposed rate increases. The first stage for immediate implementation will increase current revenues from water sales 54.1% and sewerage sales 85.9 %. It will provide the necessary revenues to meet current system operating and maintenance expenses and meet the systems' existing debt retirement needs. Further, it will allow for the necessary monies to implement the first one -half to one million dollars of the planned improvement program. The exact amount of such capital funds is subject to bond interest rates, maturity schedules, and system operation and maintenance inflationary