HomeMy WebLinkAboutOrdinances Book 7, Page 753, No Ordinance Number' AIT ORDIN1d,CE PROVIDING FOR THE ELECTION BY THE QUALIFIED IRCTORS
OF THE CITY OF PADUCAH, I.ENTUCKYJ TO BE HELD ON THE REGULAR ELECT IOI' DAY, '
NOVELIER 8th, 1921, IIT THE CI?Y 07 TnVUC^_H, KENTUCKY, TO DET21.".INE THE
QUESTION `,T?'.TFi R THE CITY OF PADUCAH SHILL ISSUE ADD SELL BONDS OF SAID
CITY, TO THE EXTEI:T OF SIXTY THOUSAND (660,000) DOLLARS, FOR THE PUR' 0SE'
OF T;Y.X11'G CSR 2AIId SPECIFIC INTROV EEIUS ASID EXTENSIONS TO RIVERSIDE HOS-
PITAL, !UCLUDIi:G THE PURCHASING AnD INSTALLING THE NECESSARY EPUIPTINT
FOR A CHEMICAL AND BIOLOGICAL LABORATORY, AN X-RAY LABORATORY, A LAUNDRY,
4T,D FOR `ME PURPOSE OF II.=OVII?G AND EOUIPPING THE CONTAGIOUS 1ARD, AND
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FOR THE PU` 0SE OF BUILDING AND ERECTING SUI? PARLORS, AND FOR THE PUR-
POSE OF FINISHING Ai:D EOUIPPIUG THE DEW ADDITION TO RIVERSIDE HOSPITAL
AND FOR THE PURPOSE OF PURCHASING A NEW BOILER ADD ENLARGING AND EXTEND-
IiiG Tr_r BOII yR ROaM, AT SAID, HOSPITAL, AND TO IROVIDE OR THE I:_i'= 1T OF
INTEREST ON SAID BONDS AND TO CREATE A SINKIItiG FUND FOR THE PA0TYT OF
SAME.
BE IT ORDAINED BY THE BOARD OF C01,3,1ISSION RS OF THE CITY OF
PADUCAH, KENTUCKY:
SECTION 1.
That there is hereby callea an election in the City of Parucah,
Yentuchry, to be he.l? on the 8th day of November, 1921, between the same
hours and by the same election officers conaucting the regular election
of State, County and City officers for the year 1921, for the purpose of
submitting to the qualified electors of the City of Paducah, Kentuchy,
the question of the issuance of Sixty Thousand (60,000) Dollars of bonds
of the City of Paducah, Kentucky, for the purpose of making certain
specific improvements and extensions to Riverside Hospital, incluaing the
purchasir_m and installin}_ the necessary- equipment for a cheminal and
Ordinance No.—.--
biological
o.—.biological laboratory, an x-ray laboratory, a latmery; ane for the
purpose of improving an, equipping the contagious warI, an,, for the
purpose of buileing ane erecting sun parlors, ane for the purpose of
finishing anI equipping the now VIition to Riverside 'Hospital, ane for
the purpose of purchasing a new boiler ane enlarF ro- ane extending the
boiler room, at said Hospital, ane to proviee for the payment of said
bones and to create a sinking fund for the payment of same.
SECTION 2.
That the bonds when so issued shall be payable to bearer in
twenty (20) ,years from the date thereof, at the City eepository in the
City of Faeucah, Kentucky, provirlee, however,
The City of Paducah, Kentucky, hereby reserves the right to
pay off ane take up any or all of said bones after the expiration of
ten (10) years, from the date of issuance of said bones, by liotice
published in the official newspaper of the City of Faeucah, of its in-
tentions to redeem said bonds. Saie notice to be publishes at least
thirty (30) Bays prior to the mate saie bones are to be reeeemed ane
after the publication of saie Notice and the expiration of said thirty
(30) gays, the interest on all bones to be -redeemed shall cease ane
terminate.
SECTI0N 3.
That the said bones shall craw interest at the rate of six
per centum (6%) per annum, said interest to be due ane payable semi-
annually, at the City depository in the City of Iaducah, Kentucky.
SECTION 4.
That the City of Faeucah shall levy a tax upon all of the
assessable property within the City of Paeucah, Kentucky, each year
euring the life of said bones, sufficient to raise the sum of not ex-
ceeding Three Thousand Six -Hundred (;3,600.00) Dollars, to pay the
interest on said bonds curing the life thereof: saie amount to be
adjusted each year to meet said interest.
SECTIOit 5.
That the City of Faeucah, Kentucky shall levy a tax upon all
of the assessable property in the City of Faeucah, each and every ,year
euring the life of saie bones, sufficient to -raise the sum of not more
than Three Thousand (43,000.00) Dollars each year, to create a sinking
fund for the payment of saie bones at the maturity thereof.
SECTIOIJ 6.
That the saie bongs ;then so issued shall be in the name of
i
the City of Paeucah, Y.entuchy ana shall be in eenom:lration of five
hundred (`1500.00) Dollars each, ane for the payment of %';hich, at the
mati,rity thereof, the City of Paducah pledges its food faith ane
Ordinance No.
credit. ---- - -
SECTION 7. j
II That said bonds shall not be issued unless two-thirds of all the
qualified electors of the City voting on saia question, shall have voted
in favor of incurring such indebtedness, and the issuance and sale of
said bonds as herein proviled, an, the results of said election shall be
�I certified to according to law,
i,
� SECTION 8.
A certified copy of this ordinance shall be filed with the County
Court Clerk of McCracken County, not less than thirty (30) days before
November 8th, 1921, an% a copy of this ordirance shall be published in the
official newspaper of the City of Paducah, for at least two .peeks just
preceding the election to be held on November 8th, 1921.
SECTIOid 9.
That the Clerk will have printed upon the ballots to be delivered
to the qualified electors in each precinct, in the City of Paaucah,
Kentucky, at the November Election, on november 8th, 1921, the following
question: ---
"ARE YOU TI; T'.. - CITY OF PATUCAH ISSUING AND
SE111UG 30-Y - T '::i ('''60,000.00) I"`1 -_,._RS OF BONDS, OF
THE CITY KP _- _`UC; = ?Or. TURPOSE 07 .__.:IIIG CTPRTAIN
SPECIFIC I `R07? I };[HITS 7 ?cIjiE
HOSPITAL, I 01 :QZ! __ ;' r L=I iG THE
NEC SSZY 001 CFI_ C L 2UD F',10 10_:WI I4BORA-
TORY, . . _ LPO '__ .` LAUNDRY, A, 0 -DA W PUR-
POSE 0 ", irnq-[' G - -
- iN! TPE CO .' IO , . _ D, .AND
FOR TA TURPOSE OF W T CT "C �I; " :.0: S, AND
FOR " . 7 101 CVE 07 711 L T _ " I =:' ADDI-
TIOU TO _:T D7 11h.09E OF PUR-
CWIhC A - ..-..`IiG THE
BOILER O JW3 l''_'_:(:, I_ Y= ._ [ !iycy (20)
YEARS IRK LATE --,-.EOF, PROVIDED, P07=2, _ CITY OF
P:. WAH, L ''S OPTION, PAY OFT -. ,`.Y OR
ALL OF SAW ,i`:' P 0K O 'TER THE EXIIHATIOO OF TEZ (10)
YEARS FROi.. = IFc,:;YI" OF SAID BONDS, BY NOTICE =UBLISHED
Ili '_r^ OFFICIAL =.-..,,- ._ h THIRTY (30) DAYS PRIOR TO THE
DATE OF 3EDEITTIOZ 0;' ..- _D BONDS, AN`j) BEA_=:II:G SIX PER CEI'TTJI.?
(6%) INTEREST PE=I ._! ME, AND FOR THE PAY.^rIT OF VHICH INTEREST,
THE SUIS OF NOT C ?:;:DI_": TI?E^ THOUSI.iID SIX FIU;DRED ($3,600,00)
DOLLARS .IL1 lli: ;'.IS :T KY WARAL TA7ATION OF ALL OF THE
TAXABTAQ PROPERTY i::C' `_.,"_ S,'= AMOWT TO Br ADJUSTED EACH
YEAR TO I:.`sET SAID 1 722ESArD FOR THE CREATION OF A SINKING
FUND TO RETIRE SAID BO=: ;S AT THE ISATLTITY THE.. IF, A SU1'i NOT
TO EXCEED THREE THOUSAND (O3, 000.00) DOLLARS =11 - BE RAISED
BY GENERAL: T_,XATION OF ALL OF THE TAXABIT: PROPERTY IN THE
CITY OF PADUCAH, XEILUUCXY, EACH YEAR DURING THE LIFE OF SAID
BONDS?''
SECTION 10.
This Ordinance shall take effect from and after its passage,
record and publication.
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LIayOT .
aq ,
RECORDED SEPTEI;BER 7th, 1921.
PUBI:ISHED it �' - , 1921,