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ORDINANCE NO. 80-7-1928
AN ORDINANCE AUTHORIZING THE CORPORATION COUNSEL TO
NEGOTIATE A LEASE WITH THE PADUCAH -McCRAC KEN COUNTY CONVENTION
CENTER CORPORATION
WHEREAS, the Paducah -McCracken County Convention Center Cor-
poration has expressed a desire to develop a convention center -hotel complex
in a parcel of land owned by the City of Paducah commonly known as Barkley
Park, and
WHEREAS, it is the intention of the Board of Commissioners of the City
of Paducah to lease the above referenced land to Paducah -McCracken County Con-
vention Center Corporation.
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF COMMISSIONERS
OF THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. That the Corporation Counsel is hereby authorized to
negotiate a
lease
with the
Paducah -McCracken County Convention Center Corporation
which lease
shall
contain
the following provisions:
(a) The term of the lease shall be for ninty-nine (99) years plus two (2)
options for terms of twenty-five (25) years each;
(b) The rental will be $1,000.00 per year;
(c) Sub -lease or assignment for the lease is subject to assignment only
upon proper approval of -the Board of Commissioners ;
(d) Any sub -lease will be subject to a firm commitment by the developer
of a nine million dollar investment and will provide recreational areas for the
public;
lease;
(e) Proper protection to the City of Paducah in case of breach of the
(f) Any terms and conditions which the Corporation Counsel deems
to be in the best interest of the City.
SECTION 2. This ordinance shall be in full force and effect from and
after the date of its adoption.
pl:� -I
Mayor
Passed by the Board of Commissioners July 1, 1980
Recorded by Louise McKinney, City Clerk, July 1, 1980.