HomeMy WebLinkAboutOrdinances Book 9, Page 190, No Resolution NumberPAG" 190
A P r'OLUTI01T P :C .IVING I.MITTP,N COIIS-111T OF THE MTATIONAL
SUI'I,TY COmPA-1\TY TO THE ASSIGN1:1FsNT OF CERT!_IN T.TOIdt•.'YS, BONDS AND SET 'ER
Ii,'PROV'::._(ITT TEXTS TO THE, CITY BARK OF IaN&..S CITY, LTIS,,OURI ANO 711T." CITY
]'IP.`:ICi':.T_• BANI{ OF P,^.DUCAN, 1T, -W UCKY, TO TT1E 12MUNT OP ONE HUNDRED AND
Fr -'".N THOUSISTD (:.;115,000.00) DOLLARS, AND ALSO THE, '..,BITTEN ORDER OD
E.J.I' KLI, DOIi. DUSITTES ! THE idiiRKLE CONTPACTING COi_PAITY, OF THE SUA1
OF OIM HUNDRED -*MTD FIFTI::EN THOUSAND (N115,000.00) DOLLARS TO THE CITY
BANIi OF KANSAS CITY, T,IIS°OURI AMID THE CITY NATIONt;L BANK OF PADUCAH,
KrITTUC :Y OUT OF THE I:10I s'iYS, BONDS AND SE ;LR TAXES THAT 14AY ACCRUE TO THE
SAID E. J.TJRP.KLE UIID'R HIS CONTRACT '. ITH THE CITY 07 PADUCAH, KENTUCI{Y FOR
THE CONSTRUCTICI? OF COT,iBINED S"".'IERS IN SE,'.BR ZONE rOUR "A".
BE IT RESOLVED BY THE BQ[-RD OF COTOi ISSIOTiE.p:` OF TIIE
CITY OF PADUCAH, KENTUCKY.
SECTION 1.
That the written consent of the National Surety -Company
as surety in the contract bond of E.H.Ilerkle, doing business as the
ierkle Contracting Company, for the construction of combined sewers in
Sevier Zone Four "A" in Paducah, Kentucky, to the assignment of any
moneys, bonds and seier taxes that may accrue in favor of said Contractor
may be assigned to the City Bank of i{ar_sas City, Missouri and the City
Ilaticnal Bank of Paducah, Kentucky, to the amount of One Hundred and
Fifteen Thousand (5;115,000.00) Dollars, and the assignment of the said
r.J.Merkle, doing business 'as the Markle Contracting Company, of One <
Hundred and Fifteen Thousand (5118,000.00) Dollars of any moneys, bonds
and sewer taxes that may accrue to him by reazon of the construction
of combined sewers in Sevier Zone Four "A" in Paducah, Kentucky, under
contract heretofore entered into between the said E.J.Merkle and the
Cit;, of Paducah, Kentucky on the 17th day of August, 1928, be received,
filed and approved by the City of Paducah, Kentucky.
SECTION 2.
Pursuant to the Written consent of the National Surety
Company as surety for 2.J.1,Ierkle, doing business as the Merkle Contractin -
Company, and pursuant to the said assignment of the said E.J.Itiierkle,
loin, business as the Iderkle Contracting Company, of the sum of One
iundred and Fifteen Thousand (,115,000.00) Dollars, to the City Bank of
iansas City, Missouri and the City National Bank of Paducah, Kentucky,
.n accordance with the terms of said assignment and consent thereto by
he surety aforesaid, referred to in Section 1 hereof, the City of
'aducah will with -hold from said Contractor, in its settlement with him'
he amount of One Hundred and Fifteen Thousand (5)115,000.1)0) Dollars in `
oneua, bonds and sewer taxes, as referred to in said assignment, for the
se and benefit of the City Bank of Kansas City, Hissouri, the amount of
PAGE 191
Seventy-five Thousand (;,75,000.00) Dollars, and the City National
Bnnlr of Paducah, Kentucky, the amount of Forty Thousand (f.)40,000.00)
Dollars; but the City of Paducah shall not be recon hereof be deemed
to have in anywise modified any contract or bond between it and the
said E.J.Merkle, doing business as the I.Terkle Contracting Company,
or -ith the National Surety as surety in said bond, nor shall the
said city be liable to the assignees, the City Bank of Kansas City,
Missouri and the City Rational Bank of Paducah, Kentucky, for any
amount -.:ihatsoever, except such sums of money, bods and tax bills
as may come into its hands under and by reason of the construction,
completion and acceptance of said seders in Sevier Zone Four "A",
SECTIOII 3.
This resolution shall be in effect from and after its
passage,
SIOIII:D
i:iAYOH
P""Z-) BY TII? Ba: RD OF CCi..;,;I:..=IOIIERS SEPTELMER 27, 1928
RECOR ,= J BY HUNT CROSSLAFD, CL -'RK, SEPTEMBER 28, 1928.
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