HomeMy WebLinkAboutOrdinances Book 8, Page 711, No Resolution NumberA RESOLUTION AUTHORIZING AND DIRIECTING THE Id_.YOR AND THE
CITY TREASU4HR OF THIS CITY OF PADUCAH, KENTUCI{Y, TO BORROW.! AEOUNTS
AGGREGATING THE SUM OF $100,000.00, AS THE SnME LiAY BE RE(UIRED TO
MEET THE NEEDS OF SAID CITY, AND TO EXMCUTE NOTE OP: NOTES THEREFOR 021
BEHnLF OF .SAID CITY.
BEs IT RESOLVED BY THE GENX4AL COUNCIL OF THE CITY OF
PADUCAH, KENTUCKY:
SEECTION l
That the Mayor and City Treasurer df the City of Paduca
I
are hereby authorized and directed to borrow, for and on behalf of
! I�-said City, from any Bank or Banks therein, amounts necessary to meet
the needs of said City and aggregating approximately $100,000.00, su
loan or loans to bear interest not in excess of 6% per annum, and wh
shall be placed to the credit of said City.
!i
SECTION 2.
Said L:ayor 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
I
before November 1st, 1926, with interest; and for the payment of
said note or notes there is hereby pledged all revenues to be collet
by said City from taxes for the fiscal half year ending November 1st
1926.
SECTION 3.
This resolution shall be effective from its passage,
approval and publication.
u: K. ROLLMEN i COM '' E,
ADUP,,TED
P-ld-N rd of Coundl—
ADOPTED
Fi dl DO, of Ald�rnrn.
Attest ``
__192 Lam.
II
-LLQ `1J ri L g S X7..l` ID �I
:d