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175716
MUNICIPAL ORDER NO. 1782
A MUNICIPAL ORDER APPROVING AND AUTHORIZING THE
EXECUTION OF TERMINATION OF CONTRACT, LEASE AND OPTION BY AND
BETWEEN CITY OF PADUCAH, KENTUCKY, COUNTY OF MCCRACKEN,
KENTUCKY, AND PADUCAH MCCRACKEN COUNTY INDUSTRIAL
DEVELOPMENT AUTHORITY, DATED JUNE 1, 2004, AND AMENDED JUNE 27, 2006.
WHEREAS, City of Paducah and McCracken County are the owners of certain
real estate located within Industrial Park West of the City of Paducah, McCracken County,
Kentucky, and generally known as 5400 Commerce Drive, Paducah, Kentucky (the "Leased
Premises"), which they leased to the Paducah -McCracken County Industrial Development
Authority ("IDA") pursuant to a Contract, Lease and Option dated June 1, 2004, and amended
June 27, 2006; and
WHEREAS, the City of Paducah, McCracken County and IDA desire to terminate
the contract, lease and option, and any amendments thereto thereby releasing all parties from any
liability under said Contract, Lease and Option; and
NOW, THEREFORE, IT IS HEREBY ORDERED as follows:
NOW, THEREFORE, IT IS ORDERED BY THE BOARD OF
COMMISSIONERS OF THE CITY OF PADUCAH,
Section 1. Recitals and Authorizations. The Board of Commissioners hereby
authorizes the Mayor to execute a Termination of Contract, Lease and Option in respect to the
Contract, Lease and Option entered into between City of Paducah, Kentucky, County of
McCracken Kentucky, and Paducah McCracken County Industrial Development Authority on
June 1, 2004, and amended on June 27, 2006. It is determined that it is necessary and desirable
and in the best interest of the City to execute the termination of same.
Section 2. Effective Date. This Order shall be in full force and effect on and after
the date as approved by the Board of Commissioners of the City of Paducah, Kentucky.
ATTEST:
jAmzo�s,
Tammara S. Sanerson, City Clerk
Adopted by the Board of Commissioners, July 15, 2014
Recorded by Tammara S. Sanderson, City Clerk, July 15, 2014
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