HomeMy WebLinkAboutOrdinances Book 12, Page 771, No Ordinance NumberAN ORDINANCE AMENDING SECTION 1 OF AN ORDINANCE ENTITLED: "AN ORDINANCE
AUTHORIZING THE CITY TREASURER TO INVEST FROM THE SURPLUS ACCUMULATIONS IN THE
SINKING FUND OF THE CITY OF PADUCAH, KENTUCKY, FOR THE USE AND BENEFIT OF SAID
FUND, THE SUM OF $90,000.00 IN TREASURY BONDS OF THE UNITED STATES OF AMERICA,
AND PRESCRIBING THE KIND OF BONDS IN WHICH SAID INVESTMENT SHALL BE MADE",
WHICH WAS ADOPTED BY THE BOARD OF COMMISSIONERS ON APRIL 29, 1952,
BE IT ORDAINED BY THE BOARD OF COMMISSIONERS OF THE CITY OF PADUCAH,
KENTUCKY:
SECTION 1. That Section 1 of an ordinance containing the title quoted
above, which was adopted by the Board of Commissioners on April 29, 1952, be,
and the.same is hereby repealed, amended and rebrdained so that said Section as
amended and reordained shall read as follows:
"SECTION 1. That the City Treasurer be and he is authorized to invest fr
the surplus accumulations in the sinking fund of the City of Paducah, Kentucky,
for the use and benefit of said fund, the sum of $90,000.00 in Series J United
States Treasury bonds, said bonds to mature at such time or times as to enable
the City of Paducah to have available said sinking fund money which, together
with the amounts hereafter paid into the sinking fund, will be sufficient for
payment of the bonded indebtedness of the City of Paducah as and when the same
shall become due. The bonds in which the investment shall be made shall be in su
denominations as the City Treasurer may determine and said Treasurer shall file
with the Board of Commissioners after said investment is made a report in writing
stating the number of bonds purchased, their denominations and serial numbers
and the dates of maturity."
SECTION 2. All ordinances and parts of ordinances in conflict herewith
are, to the extent of such conflict, hereby repealed.
SECTS This ordinance shall be in full force and effect from and
after its adoption.
Mayor
Passed by the Board of Commissioners May 13, 1952
Recorded by Sarah Thurman, City Clerk, Lay 13, 1952/