HomeMy WebLinkAbout82-10-2317ORDINANCE NO. 82-10-2317
AN ORDINANCE AUTHORIZING THE MAYOR TO EXECUTE A SECURITY AGREEMENT AND
FINANCING STATEMENT WITH P. J. MARNELL & ASSOCIATES, d/b/a PADUCAH DRY, INC.
WHEREAS, to benefit the; City of Paducah in maintaining jobs for people of
low and moderate income, the Board of Commissioners approved the execution of an
agreement with the Commonwealth of Kentucky, Department of Economic Development, for
funds for the Paducah Dry Project, and
WHEREAS, in order to secure the repayment of this loan it is necessary that
financial arrangements be agreed upon;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY OF PADUCAH, KENTUCKY:
SECTION -1. That the Mayor be authorized to execute a Security Agreement
and Financing Statement with P. J. Marnell & Associates, d/b/a Paducah Dry, Inc.
SECTION 2. A copy of said Security Agreement and Financing Statement is
attached hereto and incorporated therein as if set out in full herein.
SECTION 3. This ordinance shall be read on two separate days and will be
effective upon publication in full.
JOHN K. PENROD
Mayor
Introduced by the Board of Commissioners October 19, 1982
Passed by the Board of Commissioners October 26, 1982
Recorded by Louise McKinney, City Clerk, October 26, 1982
Published by The Paducah Sun November 1, 1982.
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