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ORDINANCE NO. 85-2-2653
AN ORDINANCE ACCEPTING LETTER OF CREDIT FOR G. W. CRISP IN LIEU OF
SUBDIVISION BOND FOR FOX HARBOR SUBDIVISION IN THE CITY OF PADUCAH, KENTUCKY
WHEREAS, on July 24, 1984, Ordinance No. 84-7-2554 was adopted establishing
a $500,000.00 performance bond requirement for G. W. Crisp for the development of a
subdivision located on Old North Friendship Road; and
WHEREAS, G. W. Crisp has now completed approximately one-half of the
construction of this project; and
WHEREAS, G. W. Crisp has'submitted a letter of credit from First Federal
Savings & Loan Association in the amount of $225,000.00 in lieu of a performance bond.
BE IT ORDAINED BY THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. That a letter of credit in the amount of $225,000.00 be accepted
from G. W. Crisp in lieu of a performance bond for the completion of the development
of a subdivision located on Old North Friendship. Road in the City of Paducah,
Kentucky.
SECTION 2. This ordinance shall be read on two separate days and will be
effective upon publication of title and a certified summary thereof.
JOE VITERISI
Mayor
Introduced by the Board of Commissioners February 12, 1985
Adopted by the Board of Commissioners February 26, 1985
Recorded by Lenita Smith, City Clerk, February 26, 1985
Published by The Paducah Sun March 4, 1985.