HomeMy WebLinkAboutOrdinances Book 14, Page 583, No Ordinance Number583
AN ORDINANCE APPROVING, RATIFYING AND CONFIRMING (1) A RESOLUTION
OF THE ELECTRIC PLANT BOARD OF THE CITY OF PADUCAH, KENTUCKY, WITH
RESPECT TO THE ACQUISITION OF A MUNICIPAL ELECTRIC PLANT AND ISSUANCE OF
ELECTRIC PLANT BOARD REVENUE BONDS IN CONNECTION THEREWITH, AND (2) A
RESOLUTION OF SAID BOARD ESTABLISHING INITIAL RATES AND CHARGES FOR USE
OF THE SERVICES AND FACILITIES OF SAID ELECTRIC PLANT AND SYSTEM
WHEREAS, The City of Paducah, Kentucky, did heretofore,
pursuant to Ordinance duly and finally adopted on January 30, 1945,
by the Board of Commissioners as its legislative body declare the
desire and intention of the City to accept and operate under the
provisions of KRS Section 96.550 et seq., and further authorized the
Mayor of said City to appoint a Board, subject to the approval of
appointments by the Board of Commissioners as the governing body of
said City, and responsive thereto there has heretofore been duly and
lawfully created an Electric Plant Board of said City which has been
duly organized and pursuant to said Ordinance as amended March 7, 1959,
is now functioning on behalf of said City with respect to the acquisition
of a municipal electric plant; and
10EREAS, Pursuant to Ordinance duly and finally adopted
on August 23, 1960, by said Board of Commissioners it was declared
desirable that said City purchase and operate a municipal electric
plant and at an election duly called and held in and for said City
on November 8, 1960, a majority of all the qualified voters of said
City voting at said election on the question voted in favor of said
City purchasing from Kentucky Utilities Company an electric plant
at the price of �,�5,861,638 (subject to lawful adjustment for changes
in said electric plant after October 1, 1959) and the issuance of
revenue bonds to the amount of x)7,050,000 to pay the purchase price
and the costs and expenses incident to such purchase and to placing
said electric plant in municipal operation; and
WHEREAS pursuant to Resolutions duly adopted by said Electric
Plant Board on July 17th, 1961, provision has been made (a) for the
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issuance and sale of Electric Plant Board Revenue Bonds to the amount
of $7,050,000 for the purpose of acquiring such municipal electric
plant and placing same in municipal operation, and (b) for establishment
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of initial rates and charges for use of the services and facilities
of said Electric Plant and System, certified copies of which Resoliltions
have been submitted to this Board of Commissioners and duly examined
and considered;
584
NOW, THEREFORE, By It and It is Hereby Ordained by the Board
of Commissioners of the City of Paducah, Kentucky, as follows:
Section 1. That the City of Paducah, Kentucky, acting by
and through its Board of Commissioners as its legislative and governing
body, hereby consents to, authorizes, approves, ratifies and confirms
the acquisition of a municipal electric plant by said City and the
issuance of Electric Plant Board Revenue Bonds to the amount of
.$7,050,000, and hereby adopts, consents to, authorizes and approves,
ratifies and confirms, all of the provisions with respect to such
acquisition and said bonds, as referred to and set forth in the
Resolution adopted by the Electric Plant Board of said City on July 17,
1961; and hereby further adopts, consents to, authorizes, approves,
ratifies and confirms the initial rates and charges for use of the
services and facilities of said Electric Plant and System,as set
forth in a Resolution of said Electric Plant Board adopted on July 17,1961,
Section 2. That all ordinances, resolutions or orders in so far as
same may be in conflict herewith, are to the extent of such conflict
hereby repealed, and that this Ordinance be effective immediately
upon its adoption, approval and publication.
First reading: July 1$, 1961
Adopted and approved: July 25, 1961.
ATTE / • ayo� r�
GL�Gruu
City Clerk
CERTIFICATION
The undersigned, City Clerk of the City of Paducah, Kentucky,
hereby certifies that the foregoing constitutes a true and correct and
complete transcript of the official record of the proceedings of the
Board of Commissioners of said City had under date of July 1$, 1961, and
July 25, 1961, in so far as same relates to the introduction, considera-
tion and adoption of an Ordinance hereto attached providing for and
approving the acquisition of a municipal electric plant and the issuance
of Electric Plant Board Revenue Bonds, and approving the initial rates
and charges for use of the services and facilities thereof, Said
Ordinance as adopted was duly published on July 28, 1961.
IN WITNESS WHEREOF, the undersigned has hereunto affixed his official
signature and the seal of said City of Paducah, Kentucky, this 7th day of
August, 1961.
( SEAL ) f iJ CL`'//
City Clerk