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HomeMy WebLinkAboutOrdinances Book 10, Page 493, No Ordinance NumberA u -. T ie l 1 LT i nI .LC J , sn. %C',.. .. 1,70 , loll "i TK , 12.Ji 5 ,. 7 ""� 0: GiI ELC1P'i L �..r. .. , ...C- !"Z A U t.. U ! '. L°. i. L. P. Prz r; -r -L' ....�9LA, .b )Q7 1��: ....tet .i:' ,..-• Cl 01 .. Lif J,- �;(ii. .1, i; "' ...:ii OPT -10: WE LLUjko U` SAID FUT La A.j W1?—KT under and pnvsrant to a ;notion dull,* adopted by the "oR �I of Commissioners ac .a reZular meetin- ` rid on <.nril 1, 1941, the r, o. Paducah accepted, subject; to tie terms, conditions .and spectfica� N on.s hereinafter set out, the . id of t're E," --Nomas Lot or Company; r the leasin- to said 07 t; oC' a stroot rircher ^.rd international b over en"i' e Q !rotor trrnk 0117 ca 1pe.1 anq wYch street and egrinment are . o e particularly sr.rlbea and set out the bids submitted sy the an'd Kru ° o gas ' otor mnpin� and, it ares fo rt��:er provided In Fain motion that the af'ore- W,i. �' :nrLd not he bindin7 upon the r- r- of raducah until said � I 7n: wrny had executed a contract ir conformity •,;i th the provisions of I th.`-s ordinance; ii0 _ l ritt'OrtF, BE IV OtDAU L_) '.. 'u6iitiD OP i C I it OF P!;ii!CAtl, tC:i: `F;C':,: That the bid of the Krn-`Fhomas .'ofor Company for the leasW7 of the above described street flusher and equipment to the Ulty of Paducah, be, and the same is hereby a.c,epted upon the condition that said Company will siZn, execute ami eater into with the City I of Paducah a contract containi-n7 she followine terms conditi ons and a;reements:- i For and in consi lerablon of the stun of Cana I' _ Dollars to be paid to said d f essors (meanin ; i ru,;- o cis :. o for :o:::p .rr i j in cash ippon the acceptance of the above described property by the C' v -- and -and the further consideration of the a._reement of the City to pay ,I Monthly aurin_; the remainder of the year 1941 the sum of One wundrea.. (210000) ',ollars, the first ofsaid monthly payments to become due I i thirty 130) days after the delivery of said equipment and its acceptance by the City, said Lessors aZree to lease the above describer) flusher and equipment 1, the City t: til January 1, 1942. M 95, "As a :Percher cons.iderati.on for the aforesaid payments, said Lessors hereby rant unto the City the ri_St rind option W renew this lease for a further period of one (1) ;year be ,in?1:in=* January 1, 1942. The same rQht and option is -•ranted to said Ci to renew this lease .for a fn.rthet term of one (1) year beji_nnln�- January 1st, 1943, or for the number of months in 1943 as will be i required .for payment of the purchase price in full as hereinafter set out. "Said Vt7 may enercise said_opWon on Janita�: 1, 1942 an January 1st, 1943 b-; pa7ln, said Lessors the first monthly installer in the sum of 100 7111drad , ,,iO.OD) -,r1lors ;whish becomes due after the first of the year ich 01s 1 ase 1c renewed, and in the event of renewals as _eu•e'n provided, said city shall continue the payment of said monthly installments of Fro 4undred ("210,.0) poll; s du:.rin- the year or rears in which the sane stall '.,e renewed. Provided, however, that in the event said options are exercised as herein provided the city nays to said Lessors the aforesaid cash payment of One Thousand (`'100D.00) Dollars, to ether with monthly installments amou;tinf in the a_;;r•e ;ate sum of Three Tnon.sand'at qundred Fifty (.'r''3PMM) Dollars, this lease shall terminate and said Lessors hereby a7ree and bird themselves, their administrators, executors and asslClas to sell, ass';n ani transfer unto the City of Padreah by Pills of Sale or ct:her .appropriate instrements of WHO all of t'+ei � r -int, c' tie and interestma n! to the above describe llti _.,reef Meier and epi ipment, and 'r :, ch event said ern, t.rt.r shallll le sold, assl7ned and transferred to the City free and clear of all _'e.s, claims and encumbrances of any kind, and under said instra- ent of writing the Lessors herein pill covenant that the- are the sole owners of and the only persons having an interest in said property and have full right and power to transfer title to the same. i ", Phe aforesaid options for renewal of Vis lease shall be :xerrised by payment to said Lessors the first of the rental instal - pts in the srun of Two Hundred ( `;2.40.00) Dollars ,:h:ich becomes due on or after January 1, 1942, and by payment of the first rental :nstallment in the sum o' '3.-ro Hundred (0200.00) wollars on or ,Iafter January 1, 1943. I1 "Pze City of 2au+ can be' n7 financially unable to pa? from � 'he revenues apprcpriated to its Street Deportneqt in the Tear 19411 entire ;4 phase ;Trico for the above descr'bo d s tree ..l"sher all n.5 M7 coy: bract therefor bein - in violation of Section. U17 of the Kent My `'onst9 tution which provides that it s,all he n lf.•:;1 of ;or any city 'to become i.naebted, :in any manner or for any n'. 104e,� no an amount exreedin ;, in any ;year, the income and revenue r o-! K - ;or such year', 4 is the object, purpose and intent of the parities' i 4 ?6 - to 3"' to this reement tha t in cons 7rierati on of she payment to sa .d Lessors of the sum of One '1'1"`ollsarid (":,1000.00) Lollars in rn.sh and . t'i:- ❑ ree: , nt of said City to :hake the a foresa; d morithl;v payments o_' One ?iundred C130.00) vollars u.!til *Ianilary 1, 1942, said Lessor shall lease to rhe City the above iescri.bed :;tree t "311csher an egi:ipment until that date, but sai..d r'.t,., shall not he le -ally obli,-'- sated to lease ti -e sa-le •:.e:,ond that -late, or beyonQ ti -le '.first of i �����•.ai';:- o:' the succeed';r-, ;reo.r unless it s..s::11 e::ercise iia option ' so to do as hereinahovc prov-ided. Tt i.s, however, the object, )i=.)ose and intent of the parties hereto that sai:? Lessors small .rant u to sa'd city,* the ri,ht anti option to renew this lease on Januar,-;'- 1st, 1942, and also on January 1st, 1943, if payment of the first Inst llment of i'::o .'u.: lred (,;,230.00) doll: rs due after January lst in eat'ner of said «ears is made, and if snffic:ient revenues are provided in the bud -et and apportionment ordinance of said city durinF said year or years for nayn�n t of the install- ments due for the renev;al of this lease; and in the event said options shall be exercised in eaci of said years as herein provided and the city sh+.11 have paid in cas'i and in tiie aforesaid monthl installments the total stun of lour 'thousand Light Unndrod -fifty (':4,850.00) Dollars, said street flusher as': i equi ompnt shall become the property of the city. "!Tj.e followin additional stioulations are hereb,T 6eclared to ce a part of this Lease, conrract and Option: - "(1) )urine• the tine said Street Flusher and equipment shall leased as hereinabove provided, the City of Paducah shall not be liable to the Lessors for any loss or darna«e cuased by wear, tear or depreciation on account of use, or by i.ire, 11-htenim�, i^,indstori flood or any other unavoidable casualty. Provided, however, the City agrees to have said property insured ar;aInst loss by fire in an amount satisfactory to the Lessors herein, said policy or i policies of insurance to contain a loss clause payable to the :�cssors as 'their interest appears. (2) The City agrees to pay an -r taxes which may lawfully be 4 levied a-ainst said propertyvrhi.lo the sar:ie remains in its possess! r..nder this lease. "(5) Should the city fail to pay any of the aforesaid rental installments within ninety (90) days after the same becomes due, saItd Lessors may, by •iv:tn, the City thirty days notice of its intention so to do, terminate this lease and tai<e possession of said property provided the city shall fail to pay the delinquent rental installmepts vrithin sa',! thirty days period after receiving sa_d notice, but sai Lessors shall not have the ri.ht or option to terminato this lease for am- other cause whatsoever." Ii 4 9, 4 I - ------ ---- -- SECTTON 2. That there is hereby appropriated bly the City of Padi�cah in the year 1941 the sum of not exceoc-a. Kentucky, from its revenues �1700.00 for the leasing of the above described street flusher and equipment u der the provis-7ons of the aforesaid contr-ct, and James P. Smith, City L'ana-,cr, is hereby authorized and empowered, for and on behalf of the City of Paducah, to enter into and execute a contract containin-- the terms, conditions and st1pulations under which said apparatus and equipment shall be leased. SECTION 3. 'Phis ordinance shall be introduced at a reSular meeting- of the LIoard of Commissioners, and remain or. file for not less than on, I a (1', ,-ieek for p,O)lic insoecti.on in its comoleLed form s''all be out ii -)on its final -passa"o, and upon its adoption it shall! . :n full force and "effect ton (10) days tl,ereafter. S. ;I). i..a:,,or Pro Tem A. Blackburn, Co::-:^issionc,.r fleor:".e /. '3alcer, Commissioner Introduced, April 6, 1941 Passed by the ':oard of Commissioners, April 15th, 1941 Recorded by Rudy Stewart, City Clerl.c, April 16th, 1941.