1417 ORD RECOGNIZING CONTRACT BY AND BETWEEN CIVIL AERONAUTICS ADMIN AND COX FIELDORDINAPdCE iN0. 1417 ~
AN OHDINAIICE iiECX)GNIZIIVG cOiVT!;;=1CT BY itND BET'WEEN CIVIL hERUNAUTIGS
r;DPJ!INISTHATI-OI~ Or THE CO'dEkNivIENT OF THL UNITED STATES FO~: THE PtiRTICIPATIOn?
OF CE;3TAIN PGRTIONS UF THE EXPENSE :;F TI-iL ERECTIOI~? OF AN AIR TcR14IIJt1L BliILD-
Ii~G r'0_i THE ,,]:T~! 0~F PtiRIS OiV GLX '=iELD, AI`TD rURTHEP. 'i{ECOGNIZING THE CONTRACT
BET"rEEN THE GTVTL AERONAUTILS rADYdNISTRATI0N OF THE UNITED STATES Gr AMER1CA
AND THE CITY Of= PAi~1S t JUINT+ Y, 'WtTH I~,i, D. tt,ISSO,'-L-uR THE CONSTGUCTIOPd O'r'
SAID rtIR TEi:IJiINAL rACILITIES, AND PROV1DIiVG F0R THE ISSUAPJi,,E C;F TTIv1E WARRANTS
FOR tHE P/reYR4ENT O~` THF FO°TION OF THE :CivT.°,AC.'T Pt?ICE TO BE COnT_'IBUTED BY THE
C;IlY 0,: PARIS, ~4'I';H PORTION OF Tl±E COSTS TO BE PAIJ BY THL CITY 0F PARIS IS
$409000.00~ AND PRaVIDIrdG IFO:~ THE LE'JYIIVG aND COLLECTION OF AD VAUJRElvi TAY
AIV'i LRE.yTI0N' 0~' A SINKING 'rUAD r0<< THE Pf;YMENT Or• SUCH TIlM,E ANU THE
PAYi'fiE1vT C?:- ,°;CC:riLiED INTEFiLST Ti:E':iE;1Div.
~VHERL,yS, the C,'ity Council of the City o; Paris has heretofore entered
4
~nta a contract with the C'iv; 1 r,eronauzics Ad:ninistration, whe.reby the City
of Paris and the (;ivil Aeronautics kdr.iinistration ayrce to crect at Cox rield
a Te-rminal Building ana ce.r'Lain entrance roads, water, S°WE-, auto parking,
apron lijhtin;;, curfing, and fenci.ng, zll lcnown as Project No. 9-41-149-t301;
ana,
WHLREr,S, the r-'ity of Paris and t,,e Civil Aeronautics 4dministration
of ti.e L'nited States of k,Terica have neretofore entered into a contract with
M. D. Misso for the cons-truction of Gn air ter;ninal building and the entrance
r.oad and otper teri;;inal Tacilities; and,
'u'~HEHE;1S9 the construction o_ sa::;e is necessary for the best interests
of the City of Faris; and,
i".HER~1 S, it is necessary that time warrants be issued by said City
of Paris, in the a;:ount of $40,000.00, in payment of and for a portior. of its
proportionate part of the contract price for the constructlion of said air
te_r;;rinal building and facilities inc,ident theretoa THEF,EFORL,
BEE IT ORDr1INED BY THE CITY :X'1UNCTL OF T:iE CITY Oi' PARIS:
1. That tirne warrants of the City of Paris, Texas, payable to bearer,
be issued in the agg.regate a-nount of $40,000.00, providing ;unds for the
afcresaid obli,ati-on, as folloNas:
Noa une, fo?° tize surn of 1 ' =our Thc-.sand and No`100 Jollars
($41000o00), dated September 3,,A.D„ 1957, payable to bearer,
due on or before September 3, A. Do, 19~8~ and bearing interest
rro:;i date until paid, at t;ie rate of four per cent (4;>"') per
annu;ii, inte-r-est payable anEZUall, as it accrueso
No. Two, for tite su;n of Four Ti-iousand and ivo/100 Joliars
($4,OOO.OO) , dated Sentemk~er 3, D. , l~; ~7, pa; aY)le to
beu_~e~,, due on or rae`rore ~~~~ptei:iber 3, L'e, and
11 , ritFi'eSt frO;r aate taniil paid, at t[:e r2_`e Of T-ouT
;%eI" CeI7L ',a-:;,j ,:;E~':i' aI'ii-lla':l" i,:ueIE'Su pdy'd'fJl2 c;C1C1Uallf; dS 1..,
accrues.
T'i_ree, io-r the su,:, o; ;~our Tnousand and iVO/100 Dollars
($41000.00)" Gated :.epu`er,ir~-er 3, A. D., payable to
beu:.rc'r, CiUC' OYi 0= iJBi0r2 jc'.ptF';:ibP,L' v, A. D., 1960~ di1C1
,Dearing intcrest f-ro~n date until paid, at i.rie =ate of i"our
per cent (4;:,)' p2r a-inu,n, interest paya;vle annuully as it
accrues.
Fo. rou~:, fo:c the suiu oi iour Ti-iousand and Ivoji00 Jollars
($4,000.00), da'_;:c Septernber 3, L'., 19:>6 payable to
oearer, due on or before Septe.mber 3, I,Q D., 1961, and
beariny :interest frorra date unt*1 paiu, a:: the -rate or four
per cent- (4;:j per apnUr:?, inI.eresz aayable annually Gs it
accrues.
No. i~ive, ior the su:n of ~=:our Thousand and No/100 Dollars
($4,000o00), dGted September 39 r;. D., 19~)1, payable to
bearer, due on or befole September 3s U., 1962, and
bea-riny 1_nterest frofn date until paid, at the -rate of rour
pe c,ent (4-) per annum, interest payable annually as it
accrues.
IJo. Six, for the surn of Four Thousand and flo`100 Jalla-rs
($4,000.00), dated Septembe1r, 3, A. ll., 19~)7, payable to
bearer, due on or i)efore Scptember 3, A. D., 1963, and
bea-ring interest f.ro~~ date until paid, at the ra 'ue of four
per cant (4;~) per annur,t, Inte-rest paYable annually as it
accrues.
No. Seven, fo,° the sum of Four Tizousand and 1111o/100 Dollais
($4,000.00), dated Septei~aber 3, A. D.~ 19~)7, payable to
bearer, clue on or before Septernber 3, A. D., 19u4, and
bearing interest from date until paid, at the ratecf four
per cent (4;;,) pe-, annur;i, inte.rest pUyable anmaally as it
acc~-_rues.
i1o. Eight, for the sum of Four Tnousand and No/100 Dollar.s
($4,000.00), dated Septe.-mber 3, ,,1. D., 19`57, payable to
bearer, ciue on or befo-re Septernbe-r 3, H. 190, and
bearing interest fro;:l date until paid, at the rate of four
per cent (4;~) pe-r annurfi, interest payable annually as it
c3CCrUeS•
No. Nine, for the swn o'r Fou_„ Thousand and Iv'o/100 Dollars
($4,000.00), dated September 3, A. D., 1957, payable to
bearer, due on or before September 3, A. D., 1966, and
bearing interest fro;n date until paid, at the rate of four
per c2nt (41~,) pei annu;n, interest payable annually as it
accrues.
No. Ten, for the surli of Four Thousand and PJo/100 Dollars
($4,000.00), dated Septemlaer 3, A. D., 1937, payable to
bearer, due on or before Septe;nbe-r 3. A. D.$ 1967, and
bearing interest from date until paid, at the rate of four
pe.r cent (4,J) per annum, interest payable annually as it
acc-rueso
The i1iayor of the City of raris is hereby authorized and directed
to issue sucn ti:ae warrants on aehalf of the Gity af Paris, Texas, and the
City Cler;: shall atl:est ihe sa:ile.
2. There is hereby created a special 14und in the City Treasury, to
~be i<nown as the "Cox Field Air Terminal Ti;ne VVarrants, Series 1957. Sinking
:=und", and for that purpose and to that end shall be levied and collected
annually and paid into said fund one-tenth (1/10t'rl) of the aggregate a;;lount
of the ti:ne jNarrants described above, sarne being one-tenth (1/10tn) of the
principal on all of said tii;le warrants and also the interest accruing
annually thereon, to pay the sa;ne as they accrue, and said monies are
appropriated to that end.
3. ror paying the interest and creating a sinking fund for the
City of Paris, Texas, Cox Field .~ir Terminal Ti;ne Vdarrants, Series 1957,
the-re has already been placed in the Budget of the City oi Paris for the
period frorii July l, 19D7 to June 30, 195-j, provisions for the pay::ient of
the maturing warrant due Septernber 3, 19b~:, together with the interest
accruing on all of said tivarranl:s, and provision made in the tax levy for
the year 1957 to provide for the retirement of said warrant due September 3,
19b~~, together with the interest accruing on all of said warrants. It is
nere:uy rnade the ciuty of the proper assessing and collectiny officer of the
City of Faris, annuallyg in dun ti;ae, form, and manner, and at the sa~:~e
ti.me other City taxes are assessed and levied, to campute, ascertain, esti-
r.!ate, and declare the sum of -:oney required to be levied, assessed,
collected, and raised upon and frorr, said taxable properties to fully and
co;npletely raise, create and canstitute said sink:ing rund and interest,
until all of said warrants, together with the accruing interest thereon,
are paid in full, arid wnen so ascextained, the sa-ne shall be so levied,
assessed and collected, and the duty is i,iposed upon the Ciiy Council and
otl"er persons in seeing that the provisions above are carried out from ti,"ie
to ti!:1e, and that such ti;ne warrants and all interest thereon have been paid
in full.
4. This ordinance shall becorne effective from and after passage,
Passed and adopted this 3rd day of September, A. Dp, 1957.
R
I
r1TTEST :
~,`__.,~K~~ ~ .-6 ~-__-•~`-r_ -.-~,.t-~_.
City Clerk
xPPROVLD AS TOL:GRP.'l: ~
City Attor yo
Putayo r