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HomeMy WebLinkAboutOrdinances Book 7, Page 739, No Ordinance NumberNo. 1 _�� - Ordinance No. _--.---- AN ORDINANCE ASSESSING THE ABUTTING PROPERTY ON BOTS SIDES OF BROAD - NAY, FROM THE EAST PROPERTY LINE OF 17TH STREET OR FOUNTAIN AVENUE, TO THE PIEST PROPERTY LINE OF 25TH STREET, BEING APPROY.I1,1ATELY 3210, LINEAR FEET, IN THE CITY OF PADUCAH. KENTUCKY, THE SUM OF $4.7624 PER ABUTTING FOOT, FOR THE CONSTRUCTION OF SAID DRIVF.7IAY i7ITH CONCRETE AND PROVIDING THAT THE 1; COST OF CONSTRUCTION OF SAID DRIVE71AY BE CHARGABLE TO AND ASSESSED AGADIST THE PROPERTY RECEIVING THE BENEFIT OF S: -ME AND ASSESSING THE PADUCAH RAIL- WAY COT,IPANY, THE SIX OF $2.316.02, AS REQUIRED BY LAW AND ITS FRAAiCHISE, AS SHOUT BY THE ENGINEERS ESTIMATES ON FILE III HIS OFFICE, AND PROVIDING THAT ASSESSMENT I',AY BE PAID IN TEII ECdL ITISTALL11EITS, BEING ONE EACH YEAR FOR A PPRIOD OF TEN YE.SRS. 71HEREAS, The Board of Commissioners of the City of Paducah, Kentu has heretofore, to -wit: on the 14th day of Februaary, 1921, adopted. an� ordinance entitled, "AN ORDINANCE PROVIDING FOR THE CONSLRUCTION AND RE- CONSTRUCTION OF TIL DRIVEi7AY ON BROADWAY, FROM TTL EAST PROPERTY LIIIE OF 17TH, STREET OR FOUNT_.IN AVENUE, TO TTFE 17EST PROPERTY LINE OF 25TH, STREET, BEING APFROXIItiA TELY 3,210 LINEAR FEET, III THE CITY OF PADUCAH, KENTUCKY, AT THE COST OF THE ABUTTING PROPERTY 07NERS, 'T!D PROVIDING THAT SAID ITA- PROVEMENT SH -:LL BE MADE UPON THE TEN -'TEAR PAY. -ENT PLp.N." and, 7=REAS, In accordance with said Ordinance, it was provided that the cost of the construction of said street be paid for by the abutting property owners, on both sides thereof, except that Iortion to be paid by the City of Paducah, Kentucky, an- except that portion to oe paid by the Paducah Railway Company, as required by law and its franchise; and ^=REAS, Pursuant to said ordinance, a contract was entered into the first day of March— 1921, by and between Yancey and Johnson, of Paducah, Kentucky, and the City .of Paducah, Kentucky, for the construction thereof; and 11HE2EAS, Said contract has been completed inall respects and the work thereof finished and said work and said work having been accepted by the Bpard of Commissioners of the City of Paducah, Kentucky, on the 22nd day of July 1921, pursuant to the recommendation made therefor by the Com- missioner of Public Affairs of the City of Paducah, Kentucky, and pursuant to a motion by laid Commissioner, which motion was duly carried; NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF COT,7'ISSIOidr'�tS OF THE CITY OF PADUCAH, i KENTUCKY; I SECTION 1. h That all of the property on both sides of Broadway from the East property line of 17th street or Fountain Avenue, to the west property line of 25th street, in the City of Paducah, Kentucky, be and the same is hereby assessed for the cost of construction of said street the sum of No._U �__. — Ordinance No. _ $4.7624, per abutting foot by paving same with concrete, and the Paducah Railway Company now owns and operates a line of railway on and over said improved street, from the east property line of 17th street or Fountain Avenue to the intersection of 19th and Broadway, and it is hereby assessed the sum of $2.316.02., its proportionate part of said construction, as required by its franchise and as reeuired by law, all I of which is shown by the Engineer's estimate which is on file in his office and which estimate is made a part hereof, and a tax is hereby levied upon all the property , assets, and franchises of all kinds whatsoever, of said Paducah Rail,.ray Company, which is within the cor- porate limits of the City of Paducah, Kentucky, and said tax shall be due and payable at the same time and in the_same manner and shall bear like interest as the taxes assessed against the abutting property,' SECTION 2. That all of the funds derived from the assessment of said property aforesaid shall be used for the purpose of paying off the special tax bills issued against said property or such bonds as may be issued by the City of Paducah, pursuant to Section 3101 of the Kentucky Statutes. SECTION 3. That pursuant to Section 3101 of the Kentucky Statutes, as amended and re-enacted by an Act of the General Assembly, of the Commonwealth of Kentucky, 1910, entitled "All ACT TO MIEND AND RE-ENACT SECTIONS, 3094, 3096, 3097, 3098, 3099, 3100, 3102, OF THE KENTUCKY STATUTES RELATING TO THE CONTROL AND IITROVEP3ENT OF STREETS, PUBLIC WAYS, LANDINGS, MARVES, GROUNDS AND SIDE','TALKS, IN CITIES OF THE SECOND CLASS," and assessments may be- at the option of the property owners, payable in cash, within thirty (30) days from the date of the passage and recording of this ordinance, or in ten (10) annual installments, pursuant to provisions of said Statutes. SECTION 4. In order to provide a fund for the immediate payment of the cost of that portion of the special assessment herein provided for, which may be paid for on the installment psyment plan, as hereinbefore provided for, the City of Paducah may issue and sell improvement bonds, and to secure the payment of which bonds there is hereby pledged such taxes and liens on the property assessed herein for the pep ment pf the principal and interest, but such bonds shall not be sold for less than par and the proceeds thereof shall be applied exclusively to payment for the improvement of said street, as hereinbefore mentioned and such bonds, if issued shall bear interest and shall be payable in accordance with the provisions of Section 3101 of the Kentucky Statutes, as amende No. �) �"( � Ordinance No. and re-enacted by the General Assembly of the Commonwealth of Kentucky for 1910, and contained in said Act hereinbefore mentioned. SECTION 5. This Ordinance shall take effect and be in force from and after its passage, record and publication. Idayor, Fro -Tem. RECORDED JULY 2211d, 1921 PUBLISHED July 23rd, 1921.