HomeMy WebLinkAboutOrdinances Book 7, Page 862, No Ordinance NumberAN ORDINANCE AUTHORIZING A1;rD DIRECTING THE MAYOR AND COMMISSION -
M OF PUBLIC FINANCE TO BORROIi' THE SUM OF FIFTEEN THOUSAND (: 15,000.00)
DOLLARS FROId THE CITY NATIONAL BANK OF PADUCAH, K_,NTUCKY, AND TO EXECUTE Ili
A NOTE FOR SAID SU11 FOR AND ON BEHALF OF SAID CITY.
BE IT ORDAINED BY TIIE BOARD OF C0I\I1.fISSION IRS OF TIIF. CITY OF
PADUCAH, KENTUCKY:
SECTION 1.
The Mayor and Commissioner of Public Finance are hereby author-
ized and directed to borrow on behalf of, aryl for the use and benefit of
the City of Paducah, from the City National Bank of Paducah, Kentucky,
the sum of Fifteen Thousand ($15,000.00) D011ars, to bear interest at the
rate of W% per annum, and said sum so borrowed is hereby placed to the
credit of the General Fund of said City.
SECTION 2.
A note shall be executed, which shall bear the signature of the
City of Paducah by the I.1ayor and Commissioner of Public Finance of said
City, and said note shall be dated July Bth, 1922, and shall be due and
No.—Y4 -3
Ordinance
payable on November 5th, 1922, and bear interest thereon at the rate of
5-2% per annum from maturity until. paid, and for payment of said note, there
is hereby pledged all revenue to be collected by said City from taxes due
in October 1922.
SECTION 3,
This Ordinance shall take effect and be in force from and alter its
passage.
.;j Mayor.
RECORDED JULY 8TH, 1922..
FUBMSHED "_LL_, 1922.