HomeMy WebLinkAboutOrdinances Book 10, Page 101, No Ordinance NumberPage 101
All ORDINANCE AMENDING AN ORDINANCE ENTITLED,
"AN ORDINANCE AMENDING AN ORDINANCE ENTITLED IAN ORDINANCE APPROVING
AND ACCEPTING THE TERI,IS AND CONDITIONS OF A RESOLUTION APPROVED BY
TIE MANAGING DIRECTORS OF THE DISASTER LOAN CORPORATION ON APRIL 1ST
1938, AS AMENDED BY THE AMENDATORY RESOLUTION OF SAID MANAGING
DIRECTORS ON JULY 5TH, 1938, PROVIDING FOR THE APPLICATION BY THE CIT
OF PADUCAH FOR A LOAN OF NOT EXCEEDING ONE HUNDRED THOUSAND (;100,000
00) DOLLARS AND WHICH RESOLUTIONS IN FULL ARE ZdBRACED HEREIN AND
ARE APPROVED IN FULL HEREBY' BY APPROVING AND ACCEPTING HIEE TERMS
AND CONDITIONS OF THE AMENDATORY RESOLUTION ADOPTED BY THE MANAGING
DIRECTORS OF THE DISASTER LOAN CORPORATION ON AUGUM 11TH, 1938, AND
THE TERMS AND CONDITIONS OF THE AMENDATORY RESOLUTION ADOPTED BY SAI
MANAGING DIRECTORS ON OCTOBER 29TH, 1938, AND IYHICH AIAE14DATORY
RESOLUTIONS ARE IIGBRACED HEREIN AILD ARE APPROVED IN FULL HF,REBY" BY
REPEALING AND REINACTING SUB -SECTION 5 OF SECTION B OF SECTION I OF
SECTION 1 OF SAID ORDINANCE:
BE IT ORDAINED BY THE BOARD AND COP+MISSIONERS
OF THE CITY OF PADUCAH, KENTUCKY:
SECTION 1
That, subsection 5 of Section B of section I of
section 1 of ordinance entitled "AN ORDINANCE A4ENDING AN ORDINANCE
ENTITLED 'AN ORDINANCE APPROVING AND ACCEPTING THE TERMS AND CON-
DITIONS OF A RESOLUTION APPROVED BY THE MANAGING DIRECTORS OF THE
DISASTER LOAN CORPORATION ON APRIL 1ST, 1938, AS AMENDED BY THE
AMENDATORY RESOLUTION OF SAID MANAGING DIRECTORS ON JULY 5TH, 1938,
PROVIDING FOR THE APPLICATION BY THE CITY OF PADUCAH FOR A LOAN OF
NOT EXCEEDING ONE HUNDRED THOUSAND ($100,000.00) DOLLARS AND WHICH
RESOLUTIONS IN FULL ARE EMBRACED HEREIN AND ARE APPROVED IN FULL
HEREBYi BY APPROVING AND ACCEPTING TIE TERMS AND CONDITIONS OF THE
AMENDATORY RESOLUTION ADOPTED BY THE MANAGING DIRECTORS OF THE
DISASTER LOAN CORPORATION ON AUGUST 11TH, 1938, AND THE TER&!S AND
CONDITIONS OF THE AMENDATORY RESOLUTION ADOPTED BY SAID MANAGING
DIRECTORS ON OCTOBER 29TH, 1938, AND WHICH AMEIIDATORY RESOLUTIONS
ARE EMBRACED HEREIN AND ARE APPROVED IN FULL HEREBY", be and is
hereby amended and re -ordained so that subsection 5 of section B of
section I of section 1, when so amended and re -ordained, shall read
as follows:
Section 5. Agreement of Borrower in form and
substance satisfactory to Agent and Counsel that it will appropriate
the sum of $18,000.00 not later than January 15, 1940 for the care
of charity patients, such amount to be deposited in a special fund
to be used solely for the payment of principal and interest on said
Bonds subsequently maturing.
Page 102
SECTION 2.
That the Mayor and the City Clerk of the City of Paducah
be and are hereby authorized and directed to execute, for and on behalf
of the City of Paducah, such instruments as shall be necessary to carry
into effect the action herein authorized.
SECTION 3.
That this ordinance shall be in full force and effect
from and after its adoption by the Hoard of Commissioners.
Passed by the Hoard of Commissioners July 10, 1939
Recorded by Rudy Stewart, City Clerk, July 10, 1939