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<br /> <br /> <br /> <br /> ORDINANCE N0. 94-033 <br /> <br /> ORDINANCE AUTHORIZING THE ISSUANCE OF <br /> CITY OF PARIS, TEXAS CERTIFICATES OF OBLIGATION, SERIES 1994 <br /> <br /> <br /> THE STATE OF TEXAS : <br /> COUNTY OF LAMAR : <br /> CITY OF PARIS : <br /> <br /> WHEREAS, the City Council deems it advisable to issue Certificates of Obligation, in the <br /> amount of $5,500,000, for paying all or a portion of the City's contractual obligations for the <br /> purpose of improving and extending the Waterworks and Sewer System, and for paying legal, <br /> fiscal, and engineering fees in connection with this project; and <br /> <br /> <br /> WHEREAS, the City Council has heretofore, on the 13th day of June, 1994, adopted an <br /> Ordinance authorizing and directing the City Glerk to give notice of intention to issue Certificates <br /> of Obligation; and <br /> <br /> WHEREAS, the notice of intention to issue Certificates of Obligation was published in the <br /> Paris News, which is a newspaper of general circulation in said City, in its issues of June 23, <br /> 1994 and June 30, 1994; and <br /> <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 /> <br /> WHEREAS, the Certificates of Obligation hereinafter authorized and designated are <br /> to be issued and delivered for cash pursuant to 271.041 et. seq. of the Local Government Code. <br /> <br /> THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PARIS, <br /> TEXAS, THAT: <br /> <br /> Section 1. AMOUNT AND PURPOSE OF THE CERTIFICATES OF OBLIGATION. <br /> The certificate of obligation or certificates of obligation of the City of Paris (the "Issuer") are <br /> hereby authorized to be issued and delivered in the aggregate principal amount of $5,500,000, for <br /> paying all or a portion of the City's contractual obligations for the purpose of improving and <br /> extending the Waterworks and Sewer System, and for paying legal, fiscal, and engineering fees <br /> in connection with this project. <br /> <br /> Section 2. DESIGNATION OF THE CERTIFICATE OF OBLIGATION. Each <br /> certificate of obligation issued pursuant to this Ordinance shall be designated: "CITY OF PARIS, <br /> <br /> TEXAS CERTIFICATE OF OBLIGATION, SERIES 1994", and initially there shall be issued, <br /> sold, and delivered hereunder a single fully registered certificate of obligation, without interest <br /> coupons, payable in installments of principal (the "Initial Certificate of Obligation"), but the Initial <br /> Certificate of Obligation may be assigned and transferred and/or converted into and exchanged <br /> <br /> 1 <br />