HomeMy WebLinkAboutOrdinances Book 8, Page 864, No Resolution NumberNO. 864.
A RESOLUTION AUTHORIZING AND DIRECTING THE MAYOR AND THE CITY
TREASURER OF THE CITY OF PADUCAH, KENTUCKY, TO RENEW CERTAIN NOTE OF NOTES
AGGREGATING $12,178.04, REPRESENTING LOANS OBTAINED FOR THE PAYMFNT OF
COSTS OF ISLAND CREEK(RE-LOCATION SE'iERI OR TO MAKE; A NEW LOAN THEREFOR.,
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AND TO EXECUTE NOTE OR NOTES FOR THE. SAME ON BEHALF OF SAID CI:PY.
BE IT RESOLVED BY THE GENERAL COUNCIL OF THE: CITY
OF PADUCAH, KENTUCKY:
SECTIO14 1.
That the Mayor and Treasurer of the City of Paducah, Kentucky,
be, and they are hereby authorized and directed to take care of certain
notes of said City that mature on Anril lst, to April 8th, 1927, by re-
newing same, or by making; a new loan to cover same, from any bank or banks
in said City, and which maturities amount to the sum of ,x;12,178.04, and
represent loans obtained for payment of cost of Island Creek re -location
sewer. Said note or notes shall bear interest not in excess of 6 per
cent.
SECTION 2.
17HEREAS, it is anticipated that funds will be available by
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way of refund or advances heretofore made by said city for construction
of sewers in Sewer Zone #4, and that the special tax bills from which
said refunds will be made, will be payable during the thirty day period,
commencing on or about ISay 1st, 1927; and, therefore, said note or notes
may be made payable on demand or at such time as to sadd officers may
appear proper. And for the payment of said note or notes there is hereby
pledged all of said special tax bills and liens to which said City is
entitled by way of refund as aforesaid.
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SECTION 3.
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This resolution shall be effective after its passage and
approval.
-- OLLM0
jADOPTED
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