HomeMy WebLinkAboutOrdinances Book 7, Page 664, No Ordinance NumberAll ORDII�"'.I]JE ISSUING BONDS FOR 2HE'2UR20SE OF COITSTRUCTING
r_ITD KitINTAIldIIIG SEIERS Ii; 111-1 T i' tR OF TFE CITY OF PADUCAH 1:1TOVlIY AS
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KEOHANICSBURG, BOUNDED BY 161,i_liD C--,�EEY_ Old THE EORTH, LIILL STREET ON THE
SOUTH, TENIESSEE RIVEN ON THE EAST, AliD T?E CIi�Y LII'.iITS ON THE ;LEST,
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AND ALSO 11, IHIT Pi;RT Or T1IE CI'T'Y 3cUNDED BY JOKES STR'rIET ON TYE IiORTH,i,
IS'_.ALD CREEK ON 'ihE SOUTH, TENIIESSEE RIVER ON TFE EAST, AM) TFE CITY
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LIMITS ON TFE `I EST, EXCErTII;G OU'.2 OF S :ID TERRITORY THAT PORTION SOUTA i
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OF JOI;ES ST_iEET EMBRACED 114 1.141) N O':V Tj=:PD is CAFE OF BY SEWER DISTRICTS j
ONE AIdD '2,70, AND AT,SO III SE:J-FR DIS:iRICT NU1'JBER THREE, AS SHO'3E ON THE
PLAT FITED 11; '.it? OFFICE OF TFE COI:L:lSS101T R.CF PUBLIC ','JORKS OF THE
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CITY OF PADUCAH, AND TO PROVIDE FOR 214E PAY12E.'T OF INTEREST ON SAID
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3ONDS 1:1ID TO CHF1,2E A SINKING FUDD FOR TI ? PAYI:ENT OF SAID BONDS AT
VIHEitE!,S, pursuant to an ordinance duly passed by the Board of
Conunissioners on September 2�th, 1910, �.nd duly approved by the Mayor
of said City, there was submitted to the voters of said City, at an eleC-
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No. 'X:5—
Ordinance No._.. _ - -
tion duly held on the 4th day of november, 1919, the question of issuing
Two Hundred and Fifty Thousand (y,-250.000.00) Dollars Four and one-half
(4LY'00) Per Cent Setter Bonds, of which election due notice was given accord
ing to law, and at which election all of the requirements of the law in
relation thereto were fulfilled; and,
WHEREAS, at said election more than two-thirds of the electors
assented, thereto and voted in favor of issuing said bonds; ITOW TFEEEFUHE
BE IT ORDAlUED BY YiTE 301131) OF COET:IISSIOMa'RS OF THE CITY OF PADU-
CAH, IEi1TUCKY:
SECTIOII 1.
That bonds of the City of Paducah be issued in the sum of Two
Hundred and Fifty Thousand ($250,000.00) Dollars for sewer purposes. Said
bonds s'�Rll be issued in the denomination of Five Hundred (x500.00) each,
numbered from one to five hundred both inclusive, and shall be dated
March 1st, 1921, and shall bear interest at the rate of Four and one-half
(40) Per cent per annum, payable semi-annually on the 1st day of Septem-
her, and on the 1st day of I.` -arch of each year,,and said bonds shall mature
within twenty-five (25) years from March 1st, 1921. Said Bonds shall be
signed by the Mayor and Commissioner of Public Finance, and the coupons
may bear the fac simile signatures of said officers, and said bonds shall
be in substantially the following form,to-wit:
SEWER BONDS. SEWER BONDS.
IIO .
UNITED STATE OF AMERICA
STATE OF K]-:1;TUCKY, COUNTY OF McCRAMI7
CITY OF PADUCAH.
-90111)9.
KNOW ALL MEN BY THESE PRESENTS:
That the City of Paducah, in McCracken County, Kentucky, acknow-
ledges that it owes and is indebted to bearer, and for value received
hereby promises and agrees to pay to the bearer, the sum of Five Hundred
Dollars (Ni500.00) in lawful money of the United States of ".merits, upon
the 1st day of March, 1946, with interest thereon at the rate of ¢1% per
annum, payable semi-annually, upon the 1st day of Barth, and on the i;st
day of September of each year until payment of the principal sum hereof,
upon the presentation and surrender of the proper-. coupons therefor
hereunto attached. Both the principal and interest hereon are payable at
the City Rational Bank in the City of Paducah, Kentucky.
This bond is of a series of five hundred bonds of like denomination
and tenor, numbered consecutively from one to five hundred, both inclusive,
and is issued under the authority of the Kentucky Statutes and by virtue
of an ordinance duly passed by the Board of Commissioners of the City of
Paducah and duly approved upon the 29th day of September, 1919, entitled,
"AII GRD iNA1cCL 2ROPIDII;G 'OR Ali ELECTIOlI BY 'TI -NE �ZUALIFIED ELECTORS OF THE
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No. 4 6
Ordinance No.
CITY OF PADUCAH, KEN'
UCKY TO BE HELD ON THE RF,GULAR ELECT101! DLY,
NOVFMBER 4th, 1919, IN TBE CITY OF PADUCAH, KENTUCKY, TO DETERMINE THE
QUESTION WHETHER THE CITY OF PADUCAH SHALL ISSUE AND SELL POIiDS OF SAID
CITY TO THE EXTENT OF VII HUNDRED LND FIFTY THOUSAND (x250,000.00 )
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DOLLARS, FOR THE PURPOSE OF CONSTRUCTING AND M1.111TA:IIIII�G SEWERS IN '214AT;
PART OF THE CITY OF PADUCAH 1:11OWN AS MECHANICSBURG, BOUNDED BY ISIAIID
GREEK ON THE NORTH, MILL STREET 011 THE SOUTH, TENNESSEE RIVER Oil THE
EAST, AND THE CITY LI1.11TS 011 THE "41EST, A1JD ALSO JIT THA:i PART OF THE CIY
BOUNDED BY JONES STREET ON THE NORTH, ISLAND CREEK OV THE SOUTH, TENIi-
ESSEE RIVER ON THE EAST, AND THE CITY LIMITS 017 THE WEST, EXCEPTING OUT
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OF SAID TERRITORY THAT PORTIOAi SOU'T'H OF JOIIES STREET ZJBRACED IN AND
1:0:7 TAKEN CARE OF BY SEtIER DISTRICTS ONE AILD '2: 0, AND ALSO IN SEV-r-R
DISTRICT MYBER THREE, AS SIiO':111 ON THE PLAT FINED IN THE OFFICE OF TFE i
C011MISSION=R OF PUBLIC 71ORKS OF THE CITY OF PADUCl:H, AND 1'0 PROVIDE FOR;
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TPI: PAYISENT OF INTEREST OAT SAID BONDS IUD TO CREATE A SINKING FUND FOR j
THE PAYI,ENT OF S;:ID BOEDS i_T MATURITY."
The question of the issuance of this series of bonds having been
duly submit -;ed, as provided by ordinance, to the qualified electors of
the City of Paducah, at the regular election duly and legally held upon
the 4th day of November, 1019, at -which election more than two-thirds
of the electors voted in favor of the issual of said bonds.
It is hereby certified and recited that all acts, conditions
and things required by the constitution of the State of Kentucky, in
order to make this bond issue a legal, valid and binding obligation,
have been done and performed in regular and'due form of la�'i; that pro-
vision has been made for the, collection of an annual tax sufficient
to pay the interest upon this bond and to create a sinking fund for
the payment of the principal thereof, until the full amount has been
paid within twenty-five years from the date hereof; that the full
faith, credit and revenues, and all of the real and personal property,
including the sinking fund, of the City of Paducah, are hereby irre-
vocably pledged for the prompt payment of said bonds and the interest
as the same may mature, and 'that this bond, together with all other
indebtedness of the said City of Paducah, does not exceed any statutory
or constitutional limitation of indebtedness.
Ild 'iVITNESS PJHi?FiEOF the City of Paducah, Kentucky, has caused
this bond to be sided by its Mayor and countersigned by its Commis-
sioner of Public Finance, and the coupons bear the lithographed signa-
tures of its Mayor and Commissioner of Public Finance, and the seal of
said City is hereto affixed at Paducah, Kentucky, on the 1st day o
Yarch, 1021. /�
COUIIIERSIGNED: Liayor, L�i of a ah.
Commissioner of Public Finai.ce. j