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HomeMy WebLinkAboutOrdinances Book 11, Page 713, No Ordinance Number713 L AN ORDINA?ICE RATIFYING: AND APPROVING THE TERMS AND PROVISIONS OF A CONTRACT ENTERED INTO FSETNEEPi VIE PADUCAH AIRPORT . CORPORATION AND THE KENTUCKY INSTITUTE OF AEROIAUTICS SUPPLE1.1ENTING AND REVISING TIIE CONTRACT ENTERED INTO BET1EEII THE SAI':E PARTIES ON (MARCH 20TH, 1945, WITH REFERENCE TO TH, USE OF THE nARF.IEY AIRPORT AND AUTiIORIZIITG 7HE MAYOR PRO TELT TO EXECUTE FOR AND ON ZETIALF OF THE CITY OF PADUCAH, A ',7RITI:IG RATIFYING AND APPROVING SAID SUPPLEMENTAL CON PACT '=TEREAS, under a contract entered into between the Paducah Airport Corporation and the Kentucky Institute of aeronautics on :::arch 20, 1945, the former granted to the latter certain privileges for the use of the airport property described therein, and the same parties have noe agreed to modify the provisions of the aforesaid ioriginal c ontract under an agreement which is in words and figures as follows, to -wit: °SIO';; T-EPEFORE, the premises considered it is mutually covenanted and agreed between the parties hereto that the aforesaid contract of I9arcl- 20, 1945, be and it is hereby amended and re- vised and tho Second Farty agrees that he will relinquish all I (claims to and will not exercise any exclusive right or rights which are forbidden b;, erection 303 of the Civil Aeronautics Act of 1938, as amended, or by any Act of Con`f'ess relative to public airports, or which are forbidden by any rules and regulations thereunder before any public agency will be eligible to receive Federal funds for the development of Ifacilities upon such public airports, and the provisions of this agreement, as modified, are hereby expressly subordinated to the provisions of the existing A.P.4 agreement, the approved project application dated December 28, 1945. In consideration whereof, the Corporation hereby agrees that during the terms of the aforesaid original c ontract, it will not grant to any other person,f irm or corporation any like privilege or the privileges which the Second Party has acquired !under the aforesaid contract unless such person, firm or corpo- ration will become obligated by a written contract with the IlCorporation; and City and County as owners of the Airport, to (construct and install buildings and facilities on said airport I' 1property within a period of four (4) months from the date of such contract, which shall be of the value equal to those (buildings and facilities the Second Farty has constructed and 1!installed; and provided further, that the Corporation shall Ijnot grant to any other person, firm or corroration any like (privilege, or the privileges which the Second tarty has acquired �*loss such person, firm or corporation obligates himself or l -t; 714 -T itself by written contract to pay to the Corporation the sum of not less than :;;300.00 per month and, in addition a sum equal to 5 of the gross receipts collected for the use of such privilege; and provided further, that such person, firm or corporation shall obligate himself or itself that all of the buildings constructed upon said airport shall become the property of the City of Paducah and the County of McCracken, State of 'entucky, at the end of the contract period. Except as modified by the provisions of this supplemental agree=ment, all of the terms, conditions and covenants contained in the aforesaid contract of 1.:arch 20, 1045, shall remain and continue in full force and effect. IN VII7NE33 17MEREOF, the Paducah Airport Corporation has caused these presents to be signed pursuant to a resolution by its 'Board of Directors in its corporate name by Grady g'. Stewart, as President, and attested by Christine Alliston, as S cretary, and the Kentucky Institute of Aeronautics has caused this supplemental contract to be signed pursuant to a resolution by its Board of Directors in its corporate name by C. Richard LeRoy, as President, and attested by Thomas J. Marshall,as Secretary, and this instrument is executed in duplicate, each copy to be considered an original, on this the day and date first above written. Paducah Airport Corporation ATTEST: By PresI'd a --S„cre ary K=entucky Institute of Aeronautics By ATTEST:_ --- Acre ary NOW THEREFORE, BE IT ORDAINED BY THE BOARD OF C01JUMISSIONERS OF THE CITY OF PADTCAH, KENTUCKY: SECTION 3. That the City of Paducah, Kentucky, 'ratify and approve said supplemental c ontract containing the terms and conditions set forth above, and that Stuart Johnston, the i+'ayor Pro Tam; be authorized to execute, for and on behalf of the City of Paducah, a writing by the terms of which said City shall agree to the terms 715 and conditions set forth in detail in the foregoing supplemental contract between the Faducah Airport Corporation and the Kentucky • Institute of Aeronautics. SECTION 7.. This ordinance shall be in full =orce and effect from and after its adoption. Mayor IT Commissioner _Paul Abell Passed by the Board of Commissioners June 21, 1949 Recorded by Sarah Thurgian, City Clerk, June 21, 1949.