HomeMy WebLinkAboutOrdinances Book 9, Page 331, No Ordinance NumberPage 331
AN ORDINANCE AUTHORIZING AND EP'PO"'F1,ING THE CITY OF
PADUCAH TO ISOFROW UPON iHF CRFPIT AND RFFOUFCE: OF TI -]E CITY '.1HE
SUR", OF FOUR HUNDRED NIIrTY-SEVEN & 68/100 ($497.68) DOLLARS.
,'IHEREAS, in three certain actions in McOtacken Circuit
Court against the City of Paducah in favor of E.L. Beyer, one
against Mrs Della Lang and the City of Paducah, another against
Mrs IF.A.Beckenbaugh and the City of Paducah and another against
Mrs Mary Seamon and the City of Paducah, there were rendered
Judgments against the City of Paducah as follows, to -,.,Jt.
In the case of Mrs Della Tang One f'undred Sixty '% 33/100 ("'160.33)
Dollars; in the case of P,Irs '.'1.A.Beckenbaugh One Hundred Fifty-two.
& 02/100 (S'152.02) Dollars; and in the case of 1:,rs Iary Seamon One
Hundred Ei& ty-five & 33/100 ( 185.33) Dollars; and there being
no funds appropriated or available out of the current income and
taxes of the City to pay the same during the present.year, said
tax bills which were the basis of said actions having been incurred
in a previous year, and it being further provided by Section 3130
nentucky Statutes, that in such contingency an emergency exists
and the City may borrow upon the credit and resources of the city
such sums as may be necessary to satisfy said judgments, and it
appearing from said judgments that it is necessary to immediately
provide the sum of Four Hundred Ninety-seven & 68/100 (0,497.68)
Lollars .+,ith which to pay said judgments, NO':J, 111HrFr?- OwF'
BE IT. OPDAINFI: 6Y T11r 110PRD OF COF."PAIFFIONFRS
OF THE CITY OF PADUCAH, KENTUCKY;
SECTION 1.
That the City of Paducah is hereby authorized and
empowered to borrow from any bnnk or trust compnny in said City of
Paducah the sum of Four Hundred Ninety-seven & 68/100 0497.68)
Dollars for the purpose of satisfying the judgments and interest in
the cases of E.L.Beyer vs 'rs Della Lang, One Hundred Sixty & 33/100
($160.33) Dollars, and in the case of E.L.Beyer vs Mrs ;9.A.Becken-
baugh One Hundred Fifty-two & 02/100 (;;4152.02) Dollars, and in the
case of F.L.Beyer vs iSrs T,iary Seamon One Hundred Eighty-five % 33/10
($185.33) Dollars, and the credit and resources of the city are
hereby pledged as security for such loan or loans or any renewals
thereof, and the G`ayor and Commissioner of Public Finance are autho7?'
ized to execute such note or notes as mny be necessary to a"fect sue]
loan and any renecral thereof upon such time and 'terms as may be
necessary, but said oril*innl note or notes shall mature on or before
the first dny of Jnnunry, 1930.
Page 333
SECTION 2,
On account of the fact that it is necessary to raise the I
money at once in order to preserve and protect the credit and resources
of the City of Paducah an emergency is hereby declared, to exist and this
ordinance shall take eft t and be infrom and after its passage.
Signed E,— 4.t
Mayor
Passed by the Board of Commissioners May 6, 1929
Recorded by Runt Crossland, Clerk, ':Tay 7, 1929