HomeMy WebLinkAboutOrdinances Book 11, Page 171, No Resolution NumberA RESOLUTION REGIUESTI:IG J. SAI UEL HARTP AND L. R.
HO'.JSON, THE APPRAISERS APPOINTED TO EVALUATE THE ELECTRIC UTILITY
SYSTEM; OF ME KENTUCKY UTIL ITIFS COMPANY TO FURNISH '1'1E CITY OF
PADUCAH AND Tim KENTUCKY UTILITIES COI:?PANY AS SOON AS POSSIBLE
A STATUS REPORT OF TILE APPRAISAL :lORK AILD 11:EIR A";SURA ICE THAT
THE REPORT OF APPRAISAL ','JILL -E ILED.BEFORE OCTOBER 1st, 1947.
".11EREAS, the City of Paducah and the Kentucky Utilities
Company were advised sometime ago that the appraisal of the electri
system of the company would be completed before September 1st, but
the report was noi; filed before that date; and
WHEREAS, under a judgment of the M;cCrac:cen Circuit
Court in the action of the City of Paducah, et al., vs. Kentucky
Utilities Company it was ordered by the Court that the time for
the making of the appraisal of the properties of the Kentucky
Utilities Company be extended to October 1st, 1947, and it was
provided that "within said time the two members of the Board of
Appraisers now serving shall complete their work and file their
written report of the valuation of said system with the Board of
Commissioners; or if they shall be unable to agree upon the fair
and reasonable value of said system, they shall, within said time,
appoint a third member of said board to act as umpire and said
Board of Appraisers as then constituted shall file its written
report of the valuation of said system with the Board of Cocmn-
issioners; or if said two members of said Board of -Appraisers
now serving shall be unable to agree upon the fair and reasonable
value of said system and shall also be unable to agree upon a third
member of said board to act as umpire, it is ordered by the Court
that within said time there shall be appointed a third member of
said board to act as umpire as provided in said .franchise, and the
Board of Appraisers as then constituted shall file with the Board
of Cormiss ioners its written report of the valuation of said system "
and,
WHEREAS, the said J. Samuel Hartt and L. R. Howson
now have a period of only twenty-two days within which to either
agree upon the fair and reasonable value of said system, or, by
their appointment of a third member to act as umpire, to work with
• Ihim and attempt to reach a conclusion as to the price to be paid
for said system, or, in the event they are unable to agree upon
a third member to act as umpire, to give the parties time to
arrange for the appointment of said third member as provided in
said franchise, and to then work with the third member so appointed
and file a report before October 1st, 1947; and,
172
WHEREAS, it appearing that at this date the appraisal o
the physical properties has not yet been completed and there may
remain considerable work to be done even after the physical appraisal
has been made, the appointment of a third member and conferences w th
said member if the appraisers now serving should fail to reach an
agreement;
NOW THEREFORE, BE IT RESOLVED that J. Samuel Hartt
and L. R. Howson, the appraisers appointed to evaluate the electric
utility system of the Kentucky Utilities Company, be requested to
furnish the City of Paducah and the �Ientucky Utilities Company as
soon as possible a report of the status of their work of appraising
said system; that they be urged to proceed with their work with
all possible speed, and that they be called upon to furnish said
city and company with their assurance that a report of said apprais
will be filed before October 1st, 1947.
BE IT FURTHER RESOLVED that a certified copy of this
resolution be transmitted to each of said appraisers and to Ir. R.L
71att, President of the Kentucky Utilities Company.
P:ia yo r
Passed by the Board of Commissioners, September 9, 1947.
Recorded by Sarah Thurman, City Clerk, September 9, 1947;
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