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HomeMy WebLinkAboutOrdinances Book 7, Page 791, No Ordinance NumberAN ORDIIIAIICH IROVIDING FOR TIiE' ISSUIi:IG _T_TD SEIZING OF BOIIDS FOR THE TURPO91, OF I:L ?Il;G CRT III SPECIFIC I17—l'I30T?I:iFITTS AIF) ?YT ^T?SIOITS TO RIVT?RSID F, HOSPITAL, INChUDITIG THE FUR OITC.S1j'G !TT) I1STLUNG THE I?EC RrUIPY-','T1T FOR _A CH.2J:IICAL AITD BIOLOGICAL. L'_BOR.^_TORY, AIT X -PAY L_'.BOR__TOPY, l_..Id_UI'TDRY, AIM FOR TN._ PURPOSE OF IIT^:,XVII•?G ATD ---UIPPIITG THD, Cn-17AGICIT`". ': ,7 D, WD FOR THS; Pi ATOS , OF BIiIT.7I7, •. D A '_,CTTTI G SUIT PARLORS, ?.T'7) FOR T'_?-: PU?r'OSE OF FINISITTNG AI!D L''UIPPIA'r THn 77' CDDITIOT? TO RIV?RGrDT HO`??'IT.',I. ^:I'D POR TFE PURPOST., OF PbRcv— Flm' P':;';' BOT 17F, ATTD EITI RGITIG AND 7,"P:?IID.IIIG THE BOILER ROO1:7, AT SAID FOST IT T., AIM TO `•ROVID'�1 FOR THE P_'.Y- MEVT OF INTEREST ON SAID BONDS, AND TO CRh;AP'; i SINKING FUND FOR THE P:'.Y- I; ENT OF SAID BONDS AT T.V TURITY. "THEREAS, pursuant to an ordinance dr.ly passed by the Board or , Commiss.ior_ers on 5eptemuer 6th, 1921, and duly approved by the I:'ayor of I, said City, there was, submitted to the voters of said City, at an election A■i!A'�' l47YCT No."019 — Ordinance No. duly held on the bth day of November; 1921, the question of issuing and selling bonds to the extent of Sixty Thousand (160,000.00) Dollars, and bearing interest at the rate of Six (6Y Per Cent per annum, and payable within Twenty years (20), for the purpose of making certain specific improvements and extensions to Riverside Hospital, includinn the pur- chasing and installing the necessary equipment for a chemical and biolo- gical laboratory, an X -Ray Laboratory, a laundry, and for the purpose of improving and equipping the contagious ward, and for the purpose of building and erecting sun parlors, and for the purpose of finishing and equipping the neva addition to Riversido Hospital and for the purpose of purchasing a new boiler and enlaroinv and extenling the boiler room, at said hospital, of which election due notice was giver_ according to law, and at which election all of the requirements o: the law in rela- tion thereto were fulfilled; and, WHEREAS, at said election more than tyro -thirds of the elect- ors assented thereto and voted in favor of issuing said bonds; NOW, T7MRuFORE, BE IT ORD li':,D BY THE BOARD OF COI MISSIONERS OF THE CITY OF T OUCAH, KEIUUCXY: SECTION 1. That bonds of the City of Paducah be issued in the sum of Sixty Thousand ($60,000.00) Dollars for the purpose of making certain specific improvements and extensions to Riverside Hospital, including the purchasing and installing; the necessary equipment for a chemical and biological laboratory, an X -Ray laboratory, a laundry, and for the purpose of improving and equipping the contagious ward, and for the purpose of building and erecting sun parlors, and fDr the purpose of finishing and equipping the new addition to Riverside hospital and for the purpose of purchasing a new boiler and enlargins and extending the boiler room, at said hospital. Said bonds shall be issued in the denomination of Five Hundred (,=500.00) Dollars each, numbered from one to 120, both inclusive, and shall be dated 13arch 1st, 1922, and shall bear interest at the rate of Six (6%) Per Cent per annum, payable semi- annually on the lst day of September, and on the 1st day of kiarch of each year, and s-vid bonds shall mature within Twenty (20) years from ra.rch 1st, 1922. Provided, however, the City of PaducU, Kentucky, hereby reserves the right to pay off and take up any or all of said bonds after the expiration of ten_ (10) years, from the date of issuancE of said bonds, by notice published in the official newspaper of the City of Paducah, of its intentions to redeem said bonds. Said notice to be published at leAst thirty (.30) days prior to the date said bonds are to oe redeemed and aster the publication of said h0tice and the No. Ordinance No... expiration of said thirty (30) days, the interest on all bonds to be re deemed shall cease and terminate. Said bonds shall be signed by the Eager i and Commissioner of Public Finance, and the seal of the City affixed I thereto, and the coupons mai bear the fac simile signatures of said offi- cers,. and said bonds shall be in substantially the following form, to --.pit: HOSF IT::I BOND NO. SIX ERR CENT HOSPITAL BOUDS UNITED STWES OF AMERICA STATE On f UTUCKY, COUNTY OF MoCRACYRIN CITY" PF PADUCAH. � K.IM" ALL I:AU BY TEF3E FR ESE TS: i That the City of Paducah, in McCracken County, Kentucky, aeknon-1 ledges that it i owes, and is indebted to bearer, and for value received, i hereby promises and agrees to pay to the bearer, the sum of Five Hundred (1500.00) Dollars in lawful money of the United States of America, upon the dot day of Llarch, 1942, with interest thereon at the rate of Six (60 j per cent per annum, payable semi-annually, upon the lot day of September "! and on the 1st day of larch of each year until payment of the principal � sum hereon, upon the presentation and surrender of the proper coupons i therefor hereunto attached. Both the principal and interest hereon are payable at the City Rational Bank in the City of Paducah, Kentucky; Pro- vided, however, the City of Paducah, Kentucky, hereb7 reserves the right I to pay off and take up this bond and any or all of said bonds after the I expiration of ter. (10) years, from the date of issuance of said bonds, by Notice published in the official newspaper of the City of Paducah, of its j intentions to redeem said bonds. Said notice to be published at least thirty (30) days prior to the date said bonds are to be redeemed and after.. the publication of said Notice and the expiration of said thirty (30) dad=s i the interest on this bond all all bonds to be redeemed shall cease and i terminate. This bond is of a series of One hundred and Twenty bonds of like denomLnazion and tenor, numbered consecutively from one to 120, both in- clusive,and is issued under the authority of the Kentucky Statutes, and byl virtue of an ordinance iuly passed by the Board of Commissioners of the City of Paducah, and duly approved upon the 6th day of September, 1921, entitled, "AH ORD ANAP OR TRONA➢ IUG FOR THE F,I.ECTION BY THE C'UAITYIED i ELECTORS OF TNF CITY OF :P"_Di?C'_H, KENTUCKY, TO BE REID 07 THE VEWI: p i �L CTTOI' D^_Y, NOu7:::B7? STII, 1921, IN THE CITY OF PAD'TCAH, 77UTUCT_�'Y, TO D T::?r IH2 '?HA rU_;STIO_' 7HETH R T117. CITY OF Pl.DUC_'_7 '�u1:.T._T Tc`:T`_ 'T,Di G^Ti BOUD i OF SQD CITY, TO 'I UV _ -IEI-17T 0- cIvTY TFOUq.,,ND (.6,60,000.00) D01VIF, FOR THE PI':_ O3". OIC' 1=1 C:':RTATP VECITIC T' r OYrnt' TNT l D �T'_;rTRiCi*c0 HOSPITAL, 1VOli nIF ; T?i , r'lmnzf"..STi' '? !M t T n aa, ._ m I:• ,T.'._ LiT.G Tim EC'UIPIr".i?IT FOR A CHE2'_ICA 1 <'']� B.T.OLOGITAI I_'30i?ATORY, hI' X-RAY VEWTORY, No. 791Y Ordinance No. A YEr.UIppjNq TH, 00VT,qjn7vj 'AUPDRY, AND FOR THB PURPOSOF "I E 'D _ WARD, AND FOR TH_"; Y-URT-OS,­1 OF BUILDTYC Aln SUIT Pz'.RJ,ORS, THE PURPOSE OF FlITISHTNG AND ECUITPING ?HE AR- ADDITIOY TO R1V?R9TDE HOSPITAL AIM FOR THE PURPO­)__-,', OF PTJFCI1A,`-.IYG _'_ IT "T BO11_`7_ A3D1 --:!'IA-RrIITG AND EXTEIMING THE BOILER ROOM, AT SAID HOSTITAL, AIM TO PRO1TI")E FOR THE FAYVRIT OF INTERNST OU SAID BOTMS AIM To CREATE A SINKING FUIM POP THE PAYTRUT OF SAME." The question of the issuance of this series of bonds having been duly submitted, as provided by ordinance, to the qualiiied electors,of to City of Yaducan, at the regular election duly and legally held upon the 8th day of Yovember, 1921, at which election more than two-thirds of the electors voted in favor of the issuance 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 law; that provision 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 pay- ment of the principal thereof, until the full amount has been paid within Twenty (20) years from the date hereof; that the full faith, credit and revenues, and all of the real arA personal property, includ- ing the sinking fund of the City of Paducah, are heTaQ7 irrevocably pledged for the prompt payment of said bonds and the interest as same may mature, and that this bond, tooether with all other indebtedness of the said City of Paducah, does not exceed any statutory or constitution- al limitations of indebtedness. IN ­.'TTNESS "THEREOF the City of Yaducah, Kentucky, has caused this bond to be signed by its Layor and countersigned by its Commission- er of Public Finance, and the coupons bear the lithographed signatures of its Mayor and Commissioner of Public Finance, and the seal of said City is hereto affixed at Paducah, Kentucky, on the 1st day of March, 1922. QRL) J.Sayor, City of Paduct-h, Ky. COUXERSIGUAD: Commissioner of Public Finance. HOSPITAL BOND COUPON. 15.00 On the da�r o�i (and 19 the City of Paducah, ncOracker County, Kentucky, will pay to bearer the sum of Fiftee&A15.00) Dollars at the City National Bank in the City of Paducah, Kentucky, being six months' interest due on the Hospital Bond issue dated 1st day of March, 1922. No.__ 71 1J - _- Ordinance No._.:__--_ COUYTFRSIGNED: Mayor, uluY of Paducah, Ky. i 11 Commissioner o Public Finance. SECTIOIT 2. The proceeds derived :from the sale of said bonds shall be used for the purpose of making certain specific improvements and extensions to ,,Riverside Hospital, including the purchasing and installing the necessary equipment for a chemical and biological laboratory, an X -Ray laboratory, i a laundry, and for the purpose of improving and equipping the contagious i card, and for the purpose of building and erecting sun parlors, and for the purpose of finishing and equipping the new addition to Riverside Hospital, and for the purpose of purchasing a new boiler and enlarging and extending! the Boiler room, at said hospital. ii SPOTIObi 3. There shall be levied upon all the taxable and assessable pro- perty in the City of Paducah, zentucky, annually, a. tax sufficient to raise the sum of not exceeding Thirty -Six Hundred (03600.00) Dollars to pay the interest on said bonds during the life 'thereof, said amount to be adjusted each ,year to meet said interest, and there shall be levied upon all the taxable and assessable property in the City of Paducah, Kentucky, each and every year during the life of said bonds, a tax sufficient to raise the sum of not exceeding Three Thousand 03,000.00) Dollars each year to create a sinking fund for the payment of said bonds at the maturity thereof, and the taxing authorities shall annually compute the rate and amount of said tax, and the same shall be levied and collected as other taxes are levied land collected, and shall only be applied to the payment of the interest Ii'' on said bonds, and to provide a sighing fund to redeem the principal there sof at maturity. i SECTION 4. I The Nayor is hereby authorized and directed to advertise said Ii bonds for sale by publishing; a notice in the official newspaper of the � i ity of Paducah, Kentucky, setting forth the time, terms and place of sale. Said notice to be published at least one time ten days before the day of sale. The Commissioner of Public Finance is hereby authorized and directed to receive sealed bids for the stile of said bonds, and each bid shall be accompanied by a certified check for One Thousand (11,000.00) Dollars, made payable to the Commissioner of Public Finance, Paducah, Kentucky. Upon, receiving said bids the commissiolior of Public Finance shall report all bids so received by him to the Board of Commissioners at the time stated in the notice of sale for the opening of said bids.. Po bid shall be accepted for less than par and accrued interest, and only the 'highest and best bill will be accepted. No--� Ordinance No. This Ordinance shall take ef:Loct and be ir, force ton days q its passa7e. mayor 2,0,00,RDED 26th, 1921. 1 UBIISHED 28th, 1921.