1410 ORD RECOGNIZING CONTRACT BY AND BETWEEN GOVERNMENT AND COX FIELDORDINANCE N0. 1410
AN ORDINANCE RECOGNIZING CANTRACT BY AND BETWEEN CIVIL AERONAUTICS
ADMINISTRATION OF THE GOVERN141ENT OF THE UNITED STATES FOR THE PARTICIPATION
OF CERTAIN RORTIONS OF THE EXPENSE OF THE ERECTION OF AN AIR TERMINAL BUILD-
ING FOR THE CITY OF PARIS ON COX FIELD, AND FURTHER RECOGNIZING THE CANTRACT
BETWEEN THE CIVIL AERONAUTICS ADMINISTRATION OF THE UNITID STATES OF ANfERICA
AND TI-E CITY OF PARIS, JOINTLY, WITH M. D. MISSO, FOR THE GDNSTRUCTION OF
SAID AIR TERMINAL FACILITIESI AND PROVIDING FUR THE ISSUANCE OF TIME WARRANTS
FOR THE PAYNENT GF THE RORTION OF THE CONTRACT PRICE TO BE CONTRIBUTED BY THE
CITY OF PARISI WHICH PORTION OF THE COSTS TO BE PAID BY THE CITY OF PAAIS IS
$409000o002 AAID PROVIDING FOR THE LEVYING AND COLLECTIUN OF AD VALOREM TAX
AND CREATION OF A SINKING FUND FOR THE PAYIvENT OF SUCH TIME WARRANTS AND THE
PAYMENT Or ACCRUED INTERE5T THEREON.
WHEREASt the City Council of the City of Paris has heretofore entered
into a contract with the Civil Aeronautics Administration, whereby the City
of Paris and the Civil Aeronautics Administration agree to erect at Cox Field
a Terminal Building and certain entrance roads, water, sewer, auto paxking,
apron lighting, turfings and feqcing, all known as Project No. 9-41=149-601;
and,
WHEREAS, the City of Paris and the Civil Aeronautics Administration
of the United States of America have heretofore entered into a contract with
Ma DQ Misso for the construction of an air terminal building and the entrance
road and other termina], faci2ities; and,
WHEREAS, the construction of same is necessary for the best interests
of the City of Paris; andp
WHEREAS, it is necessary that time warrants be issued by said City
of Paris, in the amount of $40,000.00, in payment of azd for a portion of its
proportionate part of the contract price for the construction of said air
terminal building and facilit ies incident thereto; NOW, THEREFOAE,
BE IT ORDAINED BY TF-E CITY COUNCIL OF THE CITY OF PARIS:
1, That time warrants of the City of Parisp Texasg payable to bearerg
be issued in the aggregate amount of $40,OOOo00, providing funds for the
aforesaid obligation, as follows:
No. One, for the sum of Foux Thousand and No/100 Dollars
($4,000,00), dated August 5, A. D., 1957, payable to bearert
due on or before August 5, A. D.v 1958, and bearing interest
from date until paid, at the rate of four per cent (451.) per
annum, interest payable annually as it accrues,
Noo Two, for the sum of Four Thousand and No/100 Dollars
($4,000,00), dated August 5. A. D., 1957, payable to
bearer, due on or before August 5, Aa Doy 1959, and bearing
interest from date until paid, at the rate of four per cent
(4~6) per annsam, interest payable annually as it accrues.
Noo Three, for the sum of Four Thousand and N01100 Dollars
($4,000,00), dated August 59 A. D,, 1957, payable to bearerp
due on or before August 5, A. Do9 19609 and bearing interest
from date until paid, at the rate of four per cent (41. per
annum, interest payable annually as it accrueso
Noo Four, for the sum of Four Thousand and No/100 Dollars
($4,000,00), dated August 5. Ao D.q 1957, payable to bearero
due on or before August 5. A. D.I, 1961t and bearing interest
from date until paid, at the rate of four per cent (4;/) per
annum, interest payable annually as it accruesa
~..~r
I'►
4. This ordinance shall become effective from and after passage.
Passed and adoptsd this 2nd day of August, A. D.p 1957.
e
r
PAayor
f
ATTEST:
i~~\~_Y ~ ~ V vr V V~+JJ
Acting City Clerk
APPR~;VED AS TOFORM:
V"f
City Attorpey.
No. Five, for the sum of Four Thousand and No/100 Dollars
($4tOOOo00), dated August 5t Ao Dop 19579 payable to bearer,
due on or before August 5* A. D.9 1962, and bearing interest
from date until paid, at the rate of four per cent (4i6') per
aqnum, interest payable annually as it accrues,
No. Six, for the sum of Four Thousand and No/100 Dollars
($4~000o00)v dated August 5. A. D.g 1957t payable to bearer$
due on or before August 5, A. D., 1963, and bearing interest
from date until paid, at the rate offbur per cent (4;,.) per
annum, interest payable annually as it accrues,
No. Seven, for the sum of Four Thousand and No/100 Dollars
($4,000o00), dated August 5, A. D., 1957, payable to bearer,
due on or before August 5. A. D., 19649 and bearing interest
from date until paid, at the rate of four per cent (4;J. per
annum, interest payable annually as it accrues.
No. Eight, for the sum of Four Thousand and No/100 Dollars
($4,000,00), dated August 5, AQ D,t 1957, payable to bearer,
due on or before August 5. A. D,~ 1965, and bearing interest
from date until paid, at the rate of four per cent (4;c)) per
annum, interest payaUle annually as it accrueso
Noo Nine, for the sum of Four Thousand and No/100 Dollars
($4,000.00), dated August -5, A. L., 1957, payable to bearer,
due on or before August 5, Aq DQ, 1956, and bearing interest
irom date until paid, at the rate of Four per cent (4;`) per
annur.i, interest payable annually as it accrues.
No. Ten, for the sum of Four Thousand and No/100 Dollars
($4,000,00), dated Auyust 5, A. Do~ 1957, payuble to bearer,
due on or before August 5, A, D,t 1967, and bearing interest
from date until paid, at the rate of four per cent (4,/0') per
annum, interest payable annually as it accrueso
The Mayor of the City of Paris is hereby authorized and directed
to issue such time waxrants on behalf of the City of Paris, Texas, and the
City Clerk or Acting City Clerk shall attest the same,
2o There is hereby created a special fund in the City Treasury* to
be knoivn as the "Cox Field Air Terminal Time VJarrants, Series 19570 Sinking
Fund", and for that purpose and to that end shall be levied and collected
annually and paid into said fund one-tenth (1/10th) of the aggregate amount
of the time warrants described above, same being one-tenth (1/10th) of the
principal on all of said time warrants and also the interest accruing
annually thereon, to pay the same as they accrue, and said monies are
appropriated to that end,
3o For paying the interest and creating a sin:cing fund for the
City of Paris, Texasg Cox Field Air Terminal Time Warrantsg S eries 1957)
there has already been placed in the Budget of the City of Paris for the
period from July 1, 1957 to June 30, 1958, provisions for the payment of
the maturing warrant due August 5, 1958, together with the interest
accruing on all of said warrants, and provision made in the tax levy for
the year 1957 to provide for the retirement of said warrant due August 51,
1958, together with the interest accruing on all of said warrants. It is
hereby made the duty of the proper assessing and collecting officer of the
City of Paris, annually, in due time, form, and manner, and at the same
time other City taxes are assessed and levied, to compute, ascertaint esti-
mate, and declare the sum of money required to be leviedt assessedg
collected, and raised upon and from said taxable properties to fully and
completely raisep create and constitute said sinking Fund and interestg
until all of said warrants, together with the accruing interest thereon*
are paid in full, and when so ascertained$ the same shall be so levied,
assessed and collected, and the duty is imposed upon the City Council and
other persons in seeing that the provisions above are carried out from time
to time, and that such time warrants and all interest thereon have been paid
in full.