HomeMy WebLinkAboutOrdinances Book 9, Page 1274, No Ordinance NumberI. --S c.: r.' ; 7: o,ono.on a OF
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^1.i OP YdDL'C it C::;.BER _.L.::':`i`LOt: IN
1017 .,3 0 Tl1L 017Y OF
C _I'I OT; 1.
::at the Coard of Corui:arionera of the City of Paducah will
_give bids for the sale of the w200,000.00 voted bonds, which
:Nero authorized by the ordinance adopted September 27, 1937, and
rstified by the vote of the people of the City of Paducah at the
[:cneral election in November, 1937, and ei.ich bonds are serial
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bonds extending over a period of twenty (20) years, and to be
1 arranCed as to ra turities as follows;
1939 5,000.00
1940 3,000.00 i
1941 1,000.00
1942 15,000.00
1943 10,000.00
1944 10,000.00
1945 10,000.00
1946 1,000.00
194-, 3, 00000
19411 1,000.00
1940 1,000.00
1950 1,000.00
IV51 15,0n0.00
1952 15,000.00
1953 15,000.00
1954 14,000.00
'953 14,000.00 j
1956 1,000.00 I
1957 25,000.00 i
1n53 40,000.00
,7. tear interest from dnt.e of Isnio, at a rnte to be f
t,? occeptod bid for the .,ale of said bonds, and
it bs pa,":le semi-annually dnt1n7 from the •ante !
1 b° pr.y^ble nt the office of tho
i
;ir rpnuiro Go furnish printed
emount, thnt may
.. ... , _ •l,r.d to n., the
of i"at:e Co
_m
I
r.n ro 1275
SECTaOII 3.
As an alternate ::icl, all binders for said bonds shall
also sub:!it a proposed bid ?:y v:hich it may be pr�vl ed that said
bonds shall be issued in blocks of wZO,000.•O at six (6) months
intorvnls, dating- same the date of the first .,50,000.00 of bonds.'
Said bonds to be conditioned and to beer interest as nrovided in
Section 1 hereof, and the kids therefor to conform to reeuirernnts
of Section 2 hereof. Ponds to be issued under the-rovirions of
this Section shall be apportioned to the schedule of issues as
?rovided in :lection 1, so as to take a proportionate part of said
bonds and extend the same over each year of the twenty (20) year
ncriod as nearly a3 possible and as equally as possible. Said iss
of bongs shall bear date of their respective dates of issue and
!eliv^ry as provided in this erection ,:hen sold unC.cr bids received
r this Section.
3ECTLOI•7 4.
Each bid shall be accompanied by a certified check
payable to the City Treasurer of Paducah or to the City of Paducah
for the sum of ;;4,000.00, and which check shall be held until the
pard of Commissioners can determine chose bid shall be accepted,
and after the acceptance of the lowest and best bid as to rate of
interest, said bid checks shall be immediately returned to the ur,-
surce32ful binders, but the bid check of the successful bidder
shill b� held by the City of Paducah until the bonds have been
paid for and delivered in accordance with the bid, The
Cit;j of -a lucah will furnish ::11 required lc;-nl evidence of the 1
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validity of the bond3, by procuring, if and when required, a
,__..._.n of the Courts of 1'cntucl:y, inclu'ing the Court of Appeals,
.__c'ning the valic'+ty of laid bon,la. `;ho :4,000.00 bi,' check
x°. in t'1 Section zhn.11 rover both bids under ;:action 1 and
•1° the bonds be not hold valid t>y the iud7nont of
of the Stnte, the bid check will be returned to
J-CTICIi 5.
of' carrylr.^ into effect this or^leasee,
" her�jy authorized, empowered nn,i directed to
ar. .wept a'! .._ �n r•r n �nl , ^n° rh.icit idd3 call
tir: day of for recoiving
or .. for rece•ivin•,
i
date for nece^ting bids shall be fixed by notion duly ndopted
_ocrr', of Corv1ns±cn^rs nt any regular or called mooting of
ni1ch :'card. ::o bid shall be received ait�r the hour fixed for
a n'n- :ac's. The City 3.anager ::ill nevertise in au^h manner as
:rod advisable for receipt 6f bids, and the opening of
'dl's -Yral net. occur vrithin ten (10) days from the date of such
±o±n; P:. c±ty reserves the rlEht to reject any and all
rn'. upon rejecting said bids the bid checks will be immed-
int ly retuned to the bidders.
SECTION 6.
Ii
_his ordinance shall be in full force and effect from and
r=ter its adoption.
PA33ED SY TJDs FOARD Oi
RECORDRD BY R,UDY STE..,