HomeMy WebLinkAboutOrdinances Book 8, Page 551, No Resolution NumberNO. 551.
A RESOLUTION AUTHORIZING AND DIRECTING THE MAYOR AND
THE CITY TREASURER OF THE CITY OF YADUCAH, KENTUCKY, TO BORRO'.7 AMOUNT
AGGREGATING THE SUM OF k�10O,00O.O0, AS THE SX..1E MAY BE REQUIRED TO
MEET THE NEEDS OF SAID CITY, AND TO EXECUTE NOT",' OR NOTES THEREFOR
ON BEHALF OF SAID CITY.
BE IT RESOLVED SY THE GENERAL COUNCIL OF THE CITY OF
PADUCAH, KE14TIJUKY:
SECTION 1.
That the Mayor and City Treasurer of the City of
Paducah are hereby authorized and directed to borrow, for and on
behalf of said City, from any Bank or Banks therein, amounts necessa
to meet the needs of said City and aggregating approximately
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$100,000.00, such loan or loans to bear interest not in excess of 6%
per annum, and which shall be placed to the credit of said City.
SECTION 2.
Said Mayor end City Treasurer are further authorizes
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
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July 1, 1926, with interest; and £or the payment of said note or
notes there is hereby pledged all revenues to be collected by said
City from taxes for the fiscal half year ending July 1st, 1926.
This resolution shall be effective from its passage
approval and publication.
0. K. ENROLLMENT OMMI I I Ec..
CHAIR"-
QaDop�TUD .
P.md r -d of Gurcii,-
ADOPTED
V Pf,� Board W Ald,—r,.
(O 192. .
CRy Clark