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HomeMy WebLinkAboutOrdinances Book 10, Page 1110, No Ordinance NumberAN ORDINANCE APPOINTING L. Ii. HOWSON OF TIIE ENGINEERING FIRi4, OF ALVORD, BURDICK ARID HO';JOII, i0 SERVE AS THE APPRAISER FOR THE C ITY OF PADUCAH, KENTUCKY, IPJ CONNECTION WITH TIIE AC2UISITION OF THE ELECTRIC UTILITY SYSTEtd OF THE KENTUCKY UTILITIES COIQPANf, AND AUTHORIZING THE MAYOR TO NOTIFY SAID COMPANY TO APPOINT ITS APPRAISER BEFORE MARCII 1st, 1945 WHEREAS, on the 1st day of December, 19-14, the City of Paducah gave and the Kentucky Utilities Company received a notide that the City desired to enter into an agreement as to the value of the electric system owned by the Company in Paducah, Kentucky, and to purchase all of the facilities of the Company located within the Pty, and which are used and useful with the Company's electric ility business therein; and, WHEREAS, said notice was given pursuant to the provisions of Section 7 of an ordinance entitled: "Aid OPDINAvCE CREATING A FRANCHISE OF, PRIVILEGE TO FURNISH ELEC^_RICITY FOR LIGHT, P071ER, HEA AID ANY OTHER PURPOSES FOR W! -ICH ELECTRICITY IS USED IPI THE CITY OF PADUCAH, KENTUCKY, All -,D PIIOVIDIH(= FOP. THE SALE OF JAID FRA,iCHISE OR PRIVILEGE", which was adopted by the Board of Commissibners of the City of Paducah on August 20th, 1940, and the franchise created thereunder was thereafter sold to the Company and the sale thereof confirmed on September 17th, 1940, and also pursuant to all applica provisions of chapter 18 of the i:cts of the General nssembly of Kentucky, enacted at its 1942 Regular Session, being Jections 96,55 to 96,900 of the Kentucky Revised Statutes of 1942, and known as the T.V.A. Act; and, WHEREAS, by and under the terms of the franchise created by the aforesaid ordinance, it was provided that if a price stall not be agreed upon within sixty (60) days after the aforesaid notice shall be given, a board of Appraisers consisting of two members shall be appointed, one by the Mayorivith the approval of the hoard of Commissioners, and the other by the Company, said appointments to b made within thirty (30) days after the expiration of the time given the parties to agree upon the value of said properties; and, WHEREAS, the time for negotiations expired on January, 29th, 1945; and, '."WHEREAS, under the provisions of an ordinance adopted on rebruary 5th, 1945, it was agreed that negotiations for the purcha of the electric utility system of said Company might be continued until February 18th, 1945, and the h;ayor visa authorized, for and on behalf of the City of Paducah to enter into an agreement with the Kentucky Utilities Oompany, which agreement is in words and figures as follows, to -wit: "NOW THEREFORE, the premises considered, the Company and the City hereby agree to defer the appointment of a Board of Jq)praisers until February 19th, 1945, and if a price shall not be agreed upon by that date, said board of Appraisers shall be appointed before March let, 1945 for the purposesprovided in said ordinance and under the applicable provisions of said Kct. "It is further understood and agreed between the parties hereto that'the City, by agreeing to the extension of time aforesaid, does not waive its option or any right or privilege it acquired under t e provisions of said ordinance for the purchase of said Companyls properties; and, except as modified by the provisions of this afire - ment, all of the terms, conditions and stipulations set out in sai ordinance shall remain and continue in full force and effect. "The Utilities board joins in this agreement for the purpos of ratifying and confirming and does hereby ratify and confirm eac and all of the aforesaid provisions, stipulations and conditions under which the time for continuing negotiations between the.parti s hereto has been extended." AWD M EREAS, the Kentucky Utilities Company thereafter declined to enter into the above quoted agreement;. NOW TI:EREORRE BE IT ORDAINED bt THE LOARD OF COM-TIiSIONERS OF THE CITY OF PADUCAH, KENTUCKY: SECTION 1. That a::Board of-ppraisers be appointed to make a survey of appraise and submit in writing its valuation of said electric utility system pursuant to the provisions of the aforesaid ordinance and all applicable provisions of said l=ct, and L. R. Howson of the Engineering Firm of Alvord, Burdick and Howson, of Chicago, Illino s, is hereby appointed to serve as the appraiser for the City of Paducah. SECTIO14 2. That "ayne C. Seaton, Mayor of the City of Paducah, be authorized to notify the Kentucky Utilities Company of the appointent of the said L. R. Howson to serve as appraiser for said city and t request said Company to appoint its appraiser before Larch 1st, 19 as required under the provisions of the aforesaid ordinance. SECTION S. This ordinance shall be in full force and effect from and after its adoption. `-7„ayor Yaosed by the Loard of Commis..ioners, i,ebruavy 10th, 1945 ;;ccordoC by Rudy Litewart, City Clerk, February 16, 1945.