HomeMy WebLinkAboutOrdinances Book 9, Page 98, No Ordinance NumberPAGE 98
AN ORDj.NANCI: AUTHORIZING AND EIfsPO' ]ERINv TIIIE CITY Or 8I1 DU01?ff
TO BOFROVI UPON THE CREDIT AND RESOURCES OF TINE C.TY, TFJE SUIS OF THIRTY
NINE HUNDRED ($3900.00) DOLLARS.
i'IIIEREAS, in four certain actions in McCracken Circuit Court
against the City of Padi7cah, growing out of the closing of Tennessee
Street, there were rendered judgments against the City as follows, to -wit:
Ceasar Burger, 5750.00; airs Nellie Alsbrook, $750.00; Ed P. Gough, s�400.CQ
and F.A.Rankin, J.B.Iderriman and Josephine I+Ierriman by guardian, x;2000.00
amounting in all to Thirty-nine Hundred ($3900.00) Dollars, and there
being no funds appropriated or available out of the current income and
taxes of the city to pay same during the present year, and it being
further provided by Section 3130 Kentucky Statutes, that in such con-
tingency 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 Thirty-nine Hundred ($3900.00) Dollars
with which to pay sF0 judgments, NO:I, THEFFFORE,
BE IT O'D4INFD BY Thr• BO RD OF COI:7:'.I, ` `ONERS OF THE CITY OF
PADUCAH, Y."NTUCKY:
SECTION 1.
That the City of Paducah is hereby authorized and empowered
to borrow from any bank or trust company in said City of Paducah, the
,sum of Three Thousand Nine Hundred (03,900.00) Dollars for the purpose
of satisfying the annount of the judgments now due in the following cases
against the City of Paducah: Ceasar Burger, Seven'Hundred Fifty
(5750.00) Dollars; T?rs Nellie Alsbrook, Seven Hundred Pifty (CMO.00)
Dollars; Ed P. Gough,,Four Hundred ($400:00) Dollars; F:A. Rankin, J.B.
Merriman and Josephine Merriman by gd.ardian, Two Thousand (};2000.00)
Dollars, and the credit and resources of the City are hereby pledged as
security for such loan or any renewal thereof, andthe Maym and
Commissioner of Public Finance are. authorized to execute such note or
notes as may be necessary to effect such loan and any renevial thereof
;upon such time and terms as may be necessary, but said original note
:or notes shall mature on or before the lst day of January, 1929.
SECTION. 2.
On account of the fact that it is necessary to raise the
money at once in order to preserve and protect the credit and resources
of the City of Paducah, m emergency is hereby declared to exist and
this ordinance shall take Effect and be in force from and after its
passage.
" � _� Signed
3/ iczS__Ln�Iti 0 r
.kms Passed by the Board of Commissioners May 29th, 1928
i,' Recorded by Hunt Crossland,Clerk, Mlay 31st, 1928.
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