HomeMy WebLinkAbout05-20-2020May 20, 2020
At a Joint Called Meeting of the Paducah Board of Commissioners and McCracken County Fiscal
Court, held on Monday May 20, 2020, at 5:00 p.m., Judge Clymer and Mayor Harless presided.
Upon call of the roll by the City Clerk, the following answered to their names: Commissioners
Abraham, McElroy, Watkins, Wilson and Mayor Harless (5). Upon call of the roll, by the County
Clerk, the following McCracken County Fiscal Court members answered to their names:
Commissioners Bartleman, Jones, Parker and Judge Executive Clymer (4).
In order to keep the Commission and public safe in the midst of the COVID-19 outbreak and in
accordance with Kentucky Executive Order 2020-243, all members of the Board of Commissioners
participated using video teleconferencing. Further, this meeting was not open to the public. The
public was invited to view the meeting on YouTube at hLtps://www.youtabe.com/usgL/Paduc!ov
or on the government access channel Government 11 (Comcast channel 11).
PLEDGE OF ALLEGIANCE
Judge Clymer led the pledge.
EXECUTIVE SESSION
Commissioner Abraham offered motion, seconded by Commissioner Wilson, that the Board of
Commissioners go into closed session for discussion of matters pertaining to the following topics:
➢ Future sale or acquisition of a specific parcel(s) of real estate, as permitted by
KRS 61.810 (1) (b)
Adopted on call of the roll yeas, Commissioners Abraham, McElroy, Watkins, Wilson and Mayor
Harless (5).
The McCracken Fiscal Court also voted to go into closed session. All in favor.
RECONVENE IN OPEN SESSION
Mayor Harless offered motion, seconded by Commissioner Wilson, that the Paducah Board of
Commissioners reconvene in open session.
Adopted on call of the roll yeas, Commissioners Abraham, McElroy, Watkins, Wilson and Mayor
Harless (5).
The McCracken County Fiscal Court voted to reconvene in open session. All in favor.
ORDINANCE — ADOPTION (EMERGENCY)
Mayor Harless offered motion, seconded by Commissioner Wilson, that the Board of
Commissioners adopt an Emergency Ordinance entitled, "AN ORDINANCE OF THE CITY OF
PADUCAH, KENTUCKY, AUTHORIZING AND APPROVING AN AMENDMENT TO AND
ASSUMPTION OF LEASE AGREEMENT; MEMORANDUM OF LEASE AND
MEMORANDUM OF ASSIGNMENT AND ASSUMPTION; ASSIGNMENT AND LOAN
ASSUMPTION AGREEMENT; SECURITY AGREEMENT, RECORDING OF RELATED
FINANCING STATEMENTS RELATED TO KSR LEGACY INVESTMENT, CORP., AND
RECORDING OF RELATED TERMINATION STATEMENTS RELATED TO GENOVA
PRODUCTS, INC., IN CONJUNCTION WITH McCRACKEN COUNTY, KENTUCKY, WITH
RESPECT TO A PUBLIC PROJECT; AND AUTHORIZING THE EXECUTION OF LEGAL
DOCUMENTS RELATED THERETO." This ordinance is summarized as follows: This ordinance
authorizes the Mayor to execute certain documents associated with a sale of the assets of Genova,
Inc. by a court-appointed Receiver pursuant to the order of the Circuit Court for Genesee County
(Michigan) Case No. 20-113 85 8 CB whereby the Receiver has transferred Genova's rights and
obligations under a June 23, 2014, lease and under a March 21, 2016, loan agreement to KSR
Legacy Investment, Corp. One item associated with this transfer is a document entitled
"Amendment to and Assumption of Lease Agreement" which is between the City of Paducah,
Kentucky, McCracken County, Kentucky, and KSR Legacy Investment, Corp., for the purpose of
assigning the existing lease and also adding sections related to a purchase option and the location of
a sign in which KSR Legacy Investment, Corp. is assuming all obligations of Genova, Inc. under
the existing Lease dated June 30, 2014, provided that the option to purchase price is to be
May 20, 2020
determined and negotiated at a market value as supported by the property appraisal. This ordinance
also authorizes the execution of a related document entitled "Memorandum Of Lease and
Memorandum of Assignment and Assumption" to record in the County real estate records, which
would give record notice of the lease transaction. Further, this ordinance authorizes the execution
of a document entitled "Assignment and Loan Assumption Agreement" together with a "Security
Agreement" by and between the City of Paducah, McCracken County, Kentucky, Gene R. Kohut
(the court-appointed Receiver), and KSR Legacy Investment, Corp., for the purpose of assigning
Genova's obligations under the existing Loan Agreement and related documents to KSR Legacy
Investment Corp. as well as the drafting and recording of related financing statements and
termination statements on standard Uniform Commercial Code forms all related to the transfer by
the court-appointed Receiver.
Adopted on call of the roll yeas, Commissioners Abraham, McElroy, Wilson and Mayor Harless
(4). Commissioner Watkins was unable to vote due to technical difficulties.
The McCracken County Fiscal Court also conducted business to adopt the above referenced action.
All in favor.
ADJOURN
The McCracken County Fiscal Court voted to adjourn the meeting. All in favor.
Mayor Harless offered motion, seconded by Commissioner Abraham, to adjourn the meeting of the
Paducah Board of Commissioners. All in favor.
Meeting ended at approximately 6:58 p.m.
ADOPTED: May 26, 2020
Brandi Harless, Mayo
ATTEST:
tindsay Parish, City Clerk