HomeMy WebLinkAboutOrdinances Book 9, Page 972, No Resolution NumberPage 972
A RESOLUTION AUTHORIZING THE MAYO,,, TO ACCEPT A
PROPOSAL FROM THE CITIZENS SAVINGS BANK AND THE PEOPLES NATIONAL
BANK OF PADUCAH, KENTUCKY, FOR THE PURCHASE OF FUNDING BONDS TO BE
ISSUED BY SAID CITY.
BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF
THE CITY OF PADUCAH, KENTUCKY:
SECTION 1.
That the Mayor be, and he is hereby authorized and
empowered to sign a proposal by the Citizens Savings Bank of
Paducah, Kentucky and the Peoples National bank of Paducah,Kentucky
for the purchase of not mme than x150,000.00 or less than X100,
000.00 of Funding Bonds according to the terms of said proposals,
and to bear interest that the rate of 3 3/4% payable Semi -Annually,
and said bonds to be serial bonds payable in approximately equal.
amounts over a period of Twenty (20) years.
SECTION 2.
This resolution shall be in full force and effect
upon its adoption by the Mayor and Board of Commissioners.
Adopted by the Board of Commissioners Heb. 3, 1936
Recorded by Rudy Stewart, Clerk, Feb. 4, 1936