HomeMy WebLinkAboutOrdinances Book 8, Page 796, No Resolution NumberNO. 796./
A RESOLUTION AUTHORIZING AND DIRECTING THE MAYOR AND THE
CITY TREASURER, OF THE CITY OF PADUCAH, KENTUCKY, TO BORROW AMOUNTS
AGGREGATING THE SUA<, OF $100,000.00, AS THE SAlIE MAY BE REQUIRED TO, MEET
An
THF: NEEDS OF SAIn 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 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 Banl;s therein, amounts necessary to meet the needs of
said City and aggregating apnroximately $100,000.00, such loan or loans
to bear interest not in excess of 6% per annym, and which shall be placed
bo the credit of said City.
SECTION 2.
Said i..avor 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 July 1st, 1927,
with interest; and .for 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, 1927.
SECTION 3.
This resolution shall be effective from its passage, apnro
and publication.
BY 1/tiJ/•
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ADOPTED _ p
Pru!du,t $acrd j Counc!lncn
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Attest— -tL:
City Ci,,!a