HomeMy WebLinkAboutOrdinances Book 9, Page 781, No Ordinance NumberPage 781
AN ORDINANCE AUTHORIZING AND EMPO':^ffRING THE MAYOR OF THE
CITY OF PADUCAH, KENTUCKY TO )'BAKE APPLICATION TO THE PF.CONSTRUCTI
FINANCE CORPORATI^N OF THE UNITED STATES, '",RiOSF MAIN OFFICE IS
IN 17ASPINGTON, D. C., FOR A LOAN OR ADVANCE. OF MONFY TO THE
AMOUNT (r� FIFTY THOUSAND (?;50,000.00) DOLLARS FOR THE PURPOSF OF
ERECTING BUILDTNGS AND STRUCTURES UPON CFRTAIN PRr'PFRTIFS
BELONGING TO _HE CITY OF PADUCAH TO BE USED FOR LA—FUL PURPOSES,
AND AUTHORIZING THE MAYOR TO EXECUTE ANY AND ALL DOCTRAFTTS
NECESSARY OR RFQUIR-D FOR THE PURPOSE OF PROCURING SAID LOAN OR
ADVANCE OF MONEY, ITICLUDIT:G SUCII ENCUMBRANCE OR CONVEYANCE FOR
'AID PURPOSF.
71HEREAS, the City of Paducah is the owner of a certain
large factory site in the city of Paducah, located on both sides
of Burnett Street at the intersection of Eighth Street, on which
it is desired to erect suitable structures for industrial
purposes, and
"THFRITAS, it is to the advantage of the City of Paducah,
its citizens and tax payers, and will serve the general welfare
of said.city to effect the immediate construction of said
suitable industrial structures, and
7HERFAS, the making available of the proposed industrial
buildings and structures on the property of the City of Paducah,
Ps above described, will in a large measure promote the general
welfare of the city and relieve unemployment to a large extent,
and said proposed enterprise will be self-liquidating so that
no part of the repayment of said funds will be reo_uired to be
paid by or out of the public taxes, Now, therefore,
BF IT ORDAINED BY THE FtOARDOF COTV,'ISSIONERS OF THE CITY
OF PADUCAH, KENTUCKY:
SFCTIOTI 1.
Tha Mayor of the City of Paducah is hereby authorized and
empowered to make apolication.to the Reconstruction Finance .
Corporation of the United States for a loan or advance of money
in any sum not exceeding Fifty Thousand ($50,000.00) Dollars
to be used An the erection and construction of suitable buildings
for industrial purposes on its lot of ground mentioned and
referred to in the preamble, and consisting of a tract approximate-
ly one hundred (100) feet wide, abutting upon North Eighth Street,
extending back parallel with Burnett Street aporoximately four
hundred (400) feet to Ninth,Street, and being located on both
sides of Burnett Street at the intersection of Eighth Street in
Paducah, Kentucky.
TYe Mayor is also authorized and empowered to execute any.
Page 782
and all papers and documents on behalf of the City of Paducah for
the purpose of procuring said loan, or advance of money, and to
receive same from the Reconstruction Finance Corporation for and
on behalf of the City of Paducah, and to execute an7 and all
evidence of encumbrance or conveyance to secure the repayment
thereof, but in no event to encumber any other properties than
that mentioned and referred to in this ordinance, or to pledge or
encumber any of the taxes or tax monies of the City of Paducah.
This Ordinance shall be in full force and effect upon
its adoption by the Board of Commissioners of the City of Paducah,
Kentucky.
Signed �`'��Q�
Llayor
Passed by the Board of Commissioners Yarch 30th, 1933.
Recorded by Rudy Stewart, Clerk March 1933.
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