HomeMy WebLinkAboutOrdinances Book 14, Page 752, No Ordinance Number752 j
AN ORDINANCE APPROVING, RATIFYING AND CONFIRMING A RESOLUTION OF THE
ELECTRIC PLANT BOARD OF THE CITY OF PADUCAH, KENTUCKY, WITH RESPECT TO THE
ACQUISITION AND CONSTRUCTION OF IMPROVEMENTS TO THE EXISTING MUNICIPAL
ELECTRIC PLANT, INCLUDING ELECTRIC DISTRIBUTION FACILITIES IMMEDIATELY
BEYOND THE CORPORATE LIMITS AND ISSUANCE OF ELECTRIC PLANT BOARD REVENUE
BONDS, SERIES OF 1962, IN CONNECTION THEREWITH
WHEREAS, the ylectric Plant Board of the City of Paducah, Kentucky,
has been heretofore duly and lawfully created and organized and has heretofor
acquired and is presently operating a municipal electric plant within said
City, and in that connection presently has outstanding $7,050,000 principal
amount of City of Paducah Electric Plant Board Revenue Bonds, all as
permitted and provided by Sections 96.550 to 96.900, inclusive, of Kentucky
Revised Statutes; and
WHEREAS, pursuant to resolution adopted by said Electric Plant Board
on June 27, 1962, provision has been made for the issuance and sale of addi-
tional Electric Plant Board Revenue Bonds, Series of 1962, for the purpose
of acquiring and constructing improvements to the existing municipal electric
plant, including electric distribution facilities immediately beyond the cor-
porate limits, a certified copy of which resolution has been submitted to
this Board of Commissioners and duly examined and considered;
NOW, THEREFORE, BE 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
and construction of improvements to the existing municipal electric plant of
said City, and the issuance of additional Electric Plant Board Revenue Bonds,
Series of 1962, to the amount of $2,400,000, and hereby adopts, consents to,
authorizes and approves, ratifies and confirms, all of the provisions with
respect to such acquisition and construction and the issuance of such
additional bonds, as referred to and set forth in the resolution adopted by
the Electric Plant Board of said City on June 27, 1962, as referred to in
the preamble hereof.
SECTION 2. That all ordinances, resolutions or orders, in so far as
same may be in conflict herewith, are to the extent of subh conflict hereby
repealed.
SECTION 3. That this Ordinance shall be introduced and remain on file
at least one (1) week for public inspection in the completed form in which i
shall be put upon its final passage, and if adopted shall be in full force
and effect ten (10) days thereafter.
AT EST: ��c&I,-L6i(12,C�)Ltt,�i
/ Mayor
T CIO %i. �l 'Ift �c c r, ,.,City Clerk
Introduced by the Board of Commissioners July 10 1962
Passed by the Board of Commissioners July 17, 1962
Recorded by Sarah Thurman, City Clerk, July 17, 1962.