HomeMy WebLinkAboutMinutes Book 20, Page 86, August 13, 1938NO.-86--
Proceedings
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Proceedings of City ofPaducah�u
At a call meeting of the Board of Commissioners held in the
Co=dssionersl Chanber at the City Hall, Paducah, Kentucky, at 1:30 o'clock P.N.., on the
'13th day of August, 1938, Mayor *.ashburn presided and upon call of the roll the fol -
loving answered to their names: Commissioners IIank, Melton, Pulliam, Stubclefield and
iiayor Washburn (5).
Mayor Washburn stated reason for call, to -wit: For the purpose
of considering proposal of W. L. Lyons & Company for the purchase of $200,000 in bonds
ti issued by the city and known as Sea hall Bonds.
Stein Eros. Commissionor Helton offered the following motion: I move that
Boyce awsrd-
ed bid on the bid of Stein Bros. & Boyce for the purchase of $200,000.00 sea wall or flood
Flood ProteeL
Son bonds protection bonds be received and filed,- and I further move that their bid for the
purchase of said bonds to bear interest at and a premium of $300.00 with certain
expenses to be paid by them, including the furnishing of printed or lithographed
bond forms, and subject to the approval of their attorneys, Woodward, Davison & IIobson,
be accepted subject to the terms of said bid. Adopted on call of the roll: Yeas;
Commissioners Hank, Melton, Pulliam and Stubblefield (4). hays; Mayor Washburn (1).
Mayor Washburn offered the following motion: I move that my
`". LLyons motion, not offered to the Commission, be received, filed and spread upon the Wintites:
Co:,. {trop -
oral on "W. L. Lyons & Company of Louisville, Kentucky, having submitte
=food Protect a proposal to purchase $200,000 of Sea Wall or Flood Protection voted bonds of the
ion bonds. City of Paducah at the price of par plus $102.50 premium, and which bonds shall bear a
date to be fixed by the Board of Commissioners and with interest thereon at 31% per
annum, payable semi-annually, to be evidenced by 200 bonds of 01000 each, and being
serial bonds extending over a period of twenty (20) years, and to be apportioned by
agreement of the parties to each of said years according to agreement, and said propo-
sal in writing having been modified by verbal direction of W. L. Lyons & Company so as
to eliminate therefrom any reference to any pending litigation; but the sale of said
bonds to be conditioned upon the approval of the attorneys for the bidder, to -wit:
Tloodward, Dawson and Hobson of Louisville, Kentucky. Said bidder to furnish the printed)
bonds and coupons to be signed by the proper officials of the city of Paducah, the
coupons to bear the facsimile signatures of said officials, and which bonds are to be
furnished free of cost to the City of Paducah as soon as possible after the approval of,
same has been furnished by said attorneys,- I move that said proposal, subject to said
conditions, be accepted, and that the Corporation Counsel of the City of Paducah be
authorized and instructed to make available to and present to Woodward, Dawson and
Eobson, attorneys for bidder, all records, documents and other data that may be re-
quired in arriving at an approving opinion on said bonds."
Ad,pted on call of the roll: Yens; Commissioners Hank, Welton, Pulliam, Stubblefield
*_td Yayor .ashburn (5).
On motion meeting adjourned.
,1938 APPROVED:�`S`'
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