HomeMy WebLinkAbout2005-4-6955397
ORDINANCE NO. 2005 — 4 - 6955
AN ORDINANCE AUTHORIZING SALE OF
MUNICIPALLY OWNED REAL PROPERTY HELD
FOR THE USE AND BENEFIT OF THE PADUCAH
WATER WORKS
WHEREAS, the City of Paducah owns certain real property which
comprises approximately 206 acres which is bounded by the Ohio River to the north
Carneal Road to the south, CN property to the west and the Harris property to the east,
which property is owned by the City for the use and benefit of Paducah Water Works; and
WHEREAS, the Commissioners of the Paducah Water Works has
determined that the subject property is no longer necessary, appropriate, or in the best
interests of the operations of the Paducah Water Works and that such property should be
sold as surplus real estate, all as reflected in a resolution passed by the Commissioners of
the Paducah Water Works on February 23, 2005; and
WHERAS, West Paducah Terminal, LLC ("WPT") may be desirous of
purchasing the subject real property and had requested an Option to Purchase this
property for the price of Three Hundred Thousand Dollars ($300,000.00); and
WHEREAS, the Board of Commissioners of the City of Paducah concurs
with the Commissioners of Paducah Water Works and finds that the sale of this property
for the price of Three Hundred Thousand Dollars ($300,000.00) is in the best interest of
the City and the Paducah Water Works.
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF
COMMISSIONERS OF THE CITY OF PADUCAH, KENTUCKY:
Section 1. The Board of Commissioners hereby declares this property to
be surplus property.
Section 2. That the Mayor of the City of Paducah, Kentucky, be and he is
hereby authorized to execute an Option to Purchase Agreement with WPT wherein the
City of Paducah agrees to sell the subject real property to WPT for the purchase price of
Three Hundred Thousand Dollars ($300,000.00), with all other terms and provisions of
said agreement to be as determined by the Mayor.
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Section 3. All monies realized from the Option to Purchase Agreement,
including all option prices and the purchase price paid thereunder, shall be received by
the City for the benefit of the Paducah Water Works and shall be remitted to the Paducah
Water Works following receipt of same.
Section 4. This Ordinance shall be read on two separate dates and will
become effective upon summary publication ursuan-t-I�S 424.
William Paxton, Mayor
ATTEST:
Tammara S. Brock, City Clerk
Introduced by the Board of Commissioners April 12, 2005
Adopted by the Board of Commissioners April 26, 2005
Recorded by the Tammara S. Brock, City Clerk, April 26, 2005
Published by The Paducah Sun, May 3, 2005
64469
\ord\pww-sale of 200+ acres