HomeMy WebLinkAboutMO # 1929MUNICIPAL ORDER NO. 1929
A MUNICIPAL ORDER OF THE CITY OF PADUCAH, KENTUCKY
APPROVING AN ASSISTANCE AGREEMENT DATED AS OF AUGUST 1,
2016 BETWEEN THE CITY OF PADUCAH, KENTUCKY AND THE
KENTUCKY INFRASTRUCTURE AUTHORITY; AUTHORIZING THE
EXECUTION OF THE AGREEMENT
WHEREAS, the City Commission ("Governing Authority") of the City of Paducah,
Kentucky ("Governmental Agency") has previously determined that it is in the public interest to
acquire and construct certain facilities and improvements to the Governmental Agency's Water
System (the "Project") and
WHEREAS, the Governmental Agency has made application to the Kentucky
Infrastructure Authority (the "Authority") for the purpose of providing monies to acquire and
construct the Project; and
WHEREAS, in order to obtain such monies, the Governmental Agency is required to
enter into an assistance agreement dated as of August 1, 2016 (the "Assistance Agreement") with
the Authority.
NOW, THEREFORE, BE IT ORDAINED by the City Commission of the City of
Paducah, Kentucky, as follows:
SECTION 1. That the Governing Authority hereby approves and authorizes the
Assistance Agreement between the Governmental Agency and the Authority substantially in the
form on file with the Governmental Agency for the purpose of providing the necessary financing
to the Governmental Agency for the acquisition and construction of the Project.
SECTION 2. That the Mayor and Clerk of the Governmental Agency be and hereby are
authorized, directed and empowered to execute necessary documents or agreements, and to
otherwise act on behalf of the Governmental Agency to effect such financing.
SECTION 3. That this Municipal Order shall take effect at the earliest time provided by
law.
Attest:
Clerk
Adopted by the Board of Commissioners, September 6, 2016
Recorded by City Clerk, September 6, 2016
MO\agree-pww KIA Agreement
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