HomeMy WebLinkAboutOrdinances Book 8, Page 1008, No Resolution NumberNo. 1008.
A RESOLUTION AUTHORIZING THE MAYOR AND THE CITY TREASURER OF
THE CITY OF PADUCAH, KENTUCKY, TO BORROW AMOUNTS AGGREGATING THE Slim
OF $75,000.00, AS THE,SAME MAY BE REQUIRED TO MEET THE NEEDS,OF SAID
CITY, AND TO EXECUTE NOTE OR NOTES THEREFOR ON BEHALF OF SAID CITY.
BE IT RESOLVED BY THE GENERAL COUNCIL OF THE CITY OF
PADUCAH, KENTUCKY:
SECTION 1.
That the mayor and the City Treasurer of the City of Paducah,
Kentucky, are hereby authorized and directed to borrow, for and on be-
half of said City, from any bank or banks therein, amounts necessary to
meet the needs of said City and aggregating approximately $75,000.00;
such loan or loans to bear interest not in excess of 6o' per annum, and
which shall be placed to the credit of said City.
SECTION 2.
Said Mayor and City Treasurer are further authorized to execute
note or notes for said loans, and to sign .the name of said City by said
Mayor and Treasurer, respectively, payable on or before October 31st,
1927, with interest; and for the payment of said note or notes, there i
hereby pledged all revenues to be collected by said City from taxes for
the fiscal half year ending December 31, 1927.
SECTION 3.
This Resolution shall take effect from and after its passage,
approval and publication.
0. K, ENRO"ENT hAMi !Vit,
ED
Attest:.
- Pre+idene Board of Counednu.-.