HomeMy WebLinkAboutMinutes Book 18, Page 118, August 1, 1928No -718 _. .
Proceedings of BOARD OF COWMISSIONERS City of Paducah AUGUST Zat,1928
At a call meeting of the Board of Commissioners hold in the
Commissioners' Chamber in the City Ball Building in the City. of Paducah,
Kentucky at 12 o'clock A.M., on the let doy of August, 1988, in the,,
absence of Mayor Lackey, 0onnissioner 2191son, Mayor pro tom, presided.and
upon call of the roll the following answered to their names: Commissioners
Bradshaw, Rutter and Mayor pro tem Nelson.
_ Mayor pro tem Nelson stated reason for call to -suit: For the
purpose of authorizing the Commissioner of Public Finance to dra:v $20,000.00
out of tFe Sinking, Fund to pay off bonds, and such other business as may come
before the Board.
Commissioner Rutter offered the following motion: The Board of
Commissioners of the City having provided by ordinance for the issuance of
Draw $CO,000.00
out of Sinking . Refunding Bonds to the amount of $20,000.00, which together with an accumulation
Fund.
for the purpose of retiring same are to be used with the proceeds thereof for the
retirement of $31,000:00 worth of Ohio River Railroad bonds issued in 1883,
and said Refunding Bonds not having been sold and there being available
sufficient funds in the Sinking Fund in snid City for the purpose of acquiring
said bonds temporarily and until a Salo thereof can be made as provided by said
ordinance, I move that the Commissioner of Public Finance be authorized and
instructed to take $20,000.80 from the Sinking Fund, which with $11,000.00 will
be sufficient to retire said bonds, and send same to the United ^estates Mortgage
& Trust Company, New York, at once for the purposo of retiring said bonds,and
as surety therefor and in lieu thereof the City hold for the benefit of the
Sinking blind, said issue of Refunding Bonds amounting to $20,000.00 until same
can be sold and disposed of as provided by said ordinance. Adopted on the
call of the roll: Yeas; Commissioners Bradshaw, Ruttor and Mayor pro tem Nelson,
On motion meeting adjourned.
ADOPTFIJl ��.�J 1928 APPROVED
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