HomeMy WebLinkAboutOrdinances Book 15, Page 1057, No Ordinance Number105
AN ORDINANCE AUTHORIZING AND DIRECTING THE CITY 14ANAGER AND
THE CITY TREASURER TO TRANSFER FROM THE CITY OF PADUCAH PUBLIC WORKS
CUMULATIVE RESERVE FUND ACCOUNT IN CITIZENS BANK AND TRUST COMPANY
TO THE BOARD OF TRUSTEES OF PADUCAH AREA PUBLIC LIBRARY THE SUM OF
$68,759.48 FOR THE PURPOSE OF THE CONSTRUCTION OF ANOTHER BUILDING
FOR LIBRARY PURPOSES
WHEREAS on December 30, 1964 the Carnegie Library building
at 9th and Broadway was damaged by fire, and
WHEREAS during November, 1965 the Treasurer of the City of
Paducah collected the sum of $66,61$.41 from ten insurance companies,
said sum representing fire damage to said library building in said
city, and
. WHEREAS by motion adopted November 23, 1965 the herein
Board of Commissioners authorized and directed the City Manager and
City Treasurer
"*****to deposit $66,61$.41, representing the damage
to the library building, in the City of Paducah Public
Works Cumulative Reserve Fund Account in Citizens
Bank & Trust Company, the number of said account therein
being 01 3406 6, and that said amount to be held therein
and used only for the purpose of rebuilding and repairing
the damaged library building or towards the purchase or
construction of another building for library purposes,
-. mm**If
AND WHEREAS said amount was so deposited, and has earned
interest in the amount of $2,141.07, making a total of $68,759.48,
now available for the above purpose, and
WHEREAS it now appears that the Board of Trustees of Carnegie
Public Library have changed the name of said board to Board of Trustees
of Paducah Area Public Library, and
WHEREAS it now appears that the Board of Trustees of Paducah
Area Public Library has now decided not to repair said damaged
library building, but to construct another building for library
purposes using all available local funds, including the said sum
of $68,759.48 together with State of Kentucky grants, United States
grants and bond issue proceeds, and
WHEREAS to secure said State and United States grants, it
is necessary that the said Library Board have all available capital funds
segregated in one special bank account subject to State and Government
inspection and audit.
NOW THEREFORE, BE IT ORDAINED BY THE BOARD OF COMMISSIONERS
OF THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. That the City Manager and City Treasurer be, and
they are hereby, authorized and directed to transfer from the City
of Paducah Public Works Cumulative Reserve Fund Account in Citizens
Bank & Trust Company to the Board of Trustees of Paducah Area Public
1058
Library the sum of $68,759.L8 to be used for the purpose of the con-
struction of another buildin7 for library purposes.
SECTION 2, This ordinance shall be introduced and remain
on file for at least one (1) week for public inspection in the
completed form in which it shall be put upon its final passage, and
if adopted shall be in full force and effect ten (10) days thereafter,
—�JGci-a-S.<, � lc� •�.��,1
Mayor
Inttoduced by the Board of Commissioners September 13, 1966
Adopted by the Board of Commissioners September 20, 1966
Recorded by Sarah Thurman, City Clerk, September 20, 1966.