HomeMy WebLinkAboutOrdinances Book 15, Page 144, No Ordinance NumberAN ORDINANCE OF THE CITY OF PADUCAH, KENTUCKY, REQUESTING THE CITY
OF PADUCAH PUBLIC IMPROVEPIENT CORPORATION TO ACT AS AN AGENCY AND IN-
STRUMENTALITY OF THE CITY IN CONSTRUCTING A MUNICIPAL BUILDING !VITH
NECESSARY APPURTENANCES ON A SITE AUTHORIZED TO BE TRANSFERRED TO SAID
CORPORATION; OFFERING TO ENTER INTO A CONTRACT, LEASE AIND OPTION !WITH
SAID CORPORATION UWHEREBY THE CITY SHALL RENT THE SAID CITY HALL BUILDING,
AND THE SITE THEREOF, FROM YEAR TO YEAR, AND APPROVING SAID CORPORATION'S
PROPOSED MORTGAGING OF SAID FACILITY TO SECURE SAID CORPORATION'S
BONDS !9HICH ARE TO BE ISSUED TO PROVIDE FUNDS TO PAY A PORTION OF THE
COSTS INCIDENT TO PURCHASE THE AGREED SITE AND CONSTRUCTION OF SAID
CITY HALL BUILDING, WITH NECESSARY APPURTENANCES.
I,HERE_AS__ at the present time, the City of Paducah, Kentucky, does
not possess suitable facilities wherein the ordinary and necessary
business of city government can be properly conducted; and the ordinary
and necessary affairs of municipal government are being conducted from
scattered facilities which are grossly inadequate to serve the needs and
requirements of the community; and
'rlHEREAS, the City of Paducah has accumulated a building fund, and
has obtained a substantial grant under the Accelerated Public Works
Program of the United States, through the Community Facilities Adminis-
tration of the Housing and Home Finance Agency (Project No. AP!#Ky-44G,
Contract Ido. H-302-1181); and
JHEREAS, through the location of the proposed new City Building in
an Urban_ Renewal Area, certain other credits will be available to the
City; and
!'WHEREAS, such credits, grants, and accumulated funds are not completely
adequate to provide the necessary new facilities for the accommodation of
the City government which are hereinafter proposed, but would be available
to an agency of such city government which is able to provide 'the remainder
of the funds, and
;WHEREAS, it has been agreed as between the City of Paducah, Kentucky,
and the City of Paducah Public Improvement Corporation (a non-profit, no-stoc
public corporation organized pusuant to a Resolution of the Board of Com-
missioners of the City of Paducah, and existing under the laws of the
Commonwealth of Kentucky solely for the purpose of acquiring interests in
real estate for the ultimate use and benefit of the City, and in this regard
serving, as an agency and instrumentality of the City of Paducah, Kentucky,
in financing the acquisition and improvement of real estate and other propert
for public use and in furtherance of public purposes and functions of the
Cite, hereinafter called the "Corporation"), that the Corporation will act
as an agency and instrumentality of the City of Paducah, Kentucky (herein-
after called the "Cite"), in acquiring title to a certain parcel of land,
hereinafter described, and constructing thereon. a City Hall or munici-
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pal Buildinp with appurtenances (such appurtenances to include necessary
and proper equipment within said building to accomplish the purposes
intended), to serve the City, bu the issuance of bonds of the Corporation
secured by a mortgage of said City Hall or Municipal Building, together
with the site thereof: and
WHEREAS, It is further necessary and appropriate, in order that the
Corporation may properly finance said contemplated undertaking, that the
City request, authorize and approve the contemplated actions of said
Corporation, and further affirm its intention to enter into a "Contract,
Lease and Option" with said Corporation, such Contract, Lease and Option
to provide for annual rentals which, so long as said lease may be renewed
by the City, shall provide funds to the Corporation sufficient to pay its
First Mortgage Bonds to be issued for said undertaking, and interest
thereon, as the several Bonds and interest coupons respectively become
due from time to time, and with further provision that the City, so long
as said lease may be renewed and remain in force, will pay the costs of
operating, maintaining in good repair, and insuring such facility;
NOW, THEREFORE, THE BOARD OF COMMISSIONERS OF THE CITY OF PADUCAH1
KENTUCKY, DOES HERBY ORDAIN AS FOLLOIVS-
Section 1. The City of Paducah Public Improvement Corporation is
hereby requested to act as the agency and instrumentality of the City
of Paducah, McCracken County, Kentucky, by accepting fee simple title to
a certain, parcel of land hereinafter described with particularity, and
located within the corporate limits of the City of Paducah, Kentucky,
and in constructing thereon a City Hall or municipal Building, together wi
necessary appurtenances, wherein the proper and necessary functions of
local city government of the City of Paducah can be carried out, and to
finance the same by the authorization and public sale of $300,000.00
principal amount of its "City of Paducah Public Improvement Corporation
First I+?ortpaQe Bonds - Series of 1963," to be dated November 1, 1963, and
to mature serially as to principal in various amounts on November 1 in
each of the years 1964 to 1983, inclusive, the same to be secured in part
by a Mort7aee Deed oC Trust from said Corporation to the Citizens Bank &
Trust Company, Paducah, Kentucky, as Trustee, creating a first and prior
lien on the Said property for the security, benefit, and protection of the
owners and holders of said Bonds.
Section 2. In order that the purposes herein set out may be accomplis
the Rayor and City Clerk are hereby authorized and directed to transfer to
the City of Paducah Fublic Improvement Corporation, by a deed approved as
to form by Corporation Counsel, the hereinafter described site.
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Section 3. In order that the City of Paducah Public Improvement
Corporation may properly and effectively act as the agency and instrumentali
of the City in the construction of a City Hall, or Municipal Building, toget]
with necessary appurtenances, the City of Paducah, Kentucky, hereby offers
to lease from said Corporation, upon terms more particularly described in
Section 4 hereof, the site of said proposed City Hall or Municipal Building,
together with improvements and appurtenances thereto affixed, said site
being identified and described, as follows:
A certain tract of land situate and being in the City of
Paducah, County of iZcCracken and State of Kentucky,
described as follows, to -wit:
Being Block No. 20 in Addition "B" or First Addition to the
City of Paducah, Kentucky, and beginning at a point in
the southwest corner of the intersection of 4th Street
and Washington Street; thence westwardly with the
south line of Washington Street 346.5 feet to a point in
the southeast corner of the intersection of 5th Street
and Washington Street; thence southwardly with the east
line of 5th Street 346.5 feet to a point -at the north-
east corner of the intersection of 5th Street and Clark
Street; thence eastwardly with the north line of Clark
Street 346.5 feet to a point at the northwest corner
of the intersection of 4th Street and Clark Street; thence
northwardly with the west line of 4th Street 346.5 feet
to the point of beginning.
Being the same property which was conveyed to the City
of Paducah, Kentucky, by the Urban Renewal and Community
Development Agency of the City of Paducah, Kentucky, a
body corporate, by a deed dated April 2, 1963, which
is of record in the office of the County Court Clerk
of McCracken County in Deed Book 444, at page 292; and
being also the same property which is referred to in
a Resolution of the Urban Renewal and Community Develop-
ment Agency of the City of Paducah, Kentucky, which is
of record in the same office in Deed Book 446, at page
381.
Subject, however, to the following covenants and restric-
tions (except as modified by the Resolution recorded
in Deed Book 446, page 3$1):
1. The Corporation agrees to prosecute diligently the
construction of a city hall upon the land and to
complete such improvement before December 31, 1964.
Upon completion of such improvement, the City shall
cause the Urban Renewal and Community Development
Agency of the City of Paducah to issue its certifi-
cation to that effect in recordable form, which shall
conclusively represent a determination that all
covenants and restrictions with respect to the con-
struction of improvements have been complied with
and that their existence is terminated.
2. The Corporation will not resell or otherwise trans-
fet the land conveyed herein, or any interest therein,
prior to the completion of the city hall upon such
land, without the written approval of the City.
This obligation, however, is not applicable to mort-
gagees and their successors in interest.
3. No building on the land conveyed herein shall cover
more than 60% of the total lard conveyed, nor shall
an building exceed 4.5 feet in height above ground
level, nor shall any building occupy any space within
rwenty feet of a street right-of-way on any side.
4. Every building on the land conveyed herein shall
he used for public purposes or for apartment use.
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5 The party of the second part will make no changes
in the improvements after completion of their con-
struction which are not in conformity with these
restrictions.
6. The Corporation and its successors in interest will
comply with all State and local laws, in effect
from time to time, prohibiting discrimination or
segregation by reason of race, religion, color, or
national origin in the sale, lease, or occupancy
of the property.
7. The Corporation will not effect or execute any agree-
ment, lease, conveyance or other instrument whereby
any portion of the land conveyed herein, owned by
them, will be restricted upon the basis of race,
religion, color or national origin in the sale, lease,
or occupancy of the property.
8. The above covenants and restrictions in ParapIraphs
2, 3, 4 and 5 shall remain in full force and effect
for a period of twenty years from and after July 1,
1963. Covenants and restrictions in Paragraph i
shall terminate upon the issuance of the certifica-
tion of completion mentioned therein. Covenants
and restrictions in Paragraphs 6 and 7 shall remain
in full force and effect indefinitely.
Section _4_ The City of Paducah, Kentucky, hereby agrees to enter
into a "Contract, Lease and Option" with said City of Paducah Public
Improvement Corporation, whereby the City will agree and covenant to
lease (or, in its discretion, cause one or more of its agencies to lease)
said City Hall or Municipal Building and appurtenances, together with
the site thereof, as above described, from said Corporation from year
to year, but only for one year at a time, at annual rentals which, so
lona as said lease may be renewed by the City (or its agencies), will
provide funds to said Corporation sufficient to pay its "First Mortgage
Bonds -, Series of 196.3," and interest thereon, as the several Bonds and
interest coupons respectively become due and payable from time to time,
and said Contract shall further provide that the City, so long as said
"Contract, Lease and Option," may be renewed and remain in force, will
pay the costs of operating, maintaining in good repair and insuring such
City Hall or Adunicipal Building and appurtenances, together with the
site thereof, and that if the City shall lease and rent said facility
for one-year periods until all of the aforementioned "First PTortgage Bonds
Series of 1962" shall have been duly paid and retired, said Corporation
shall convey the facility to the City free and clear of all liens, at the
expense of the City.
Section 5. The City hereby agrees that the City of Paducah Fublic
Improvement Corporation, in order to properly carryout its duties and
responsibilities as an agency and instrumentality of the City in con-
structing said City Hall or Municipal Building, with necessar}r appurtenanc s,
may place in mortga7e to the Citizens Bank & Trust Company, Paducah,
Kentucky, as Trustee, said City Hall or Municipal Building and appurten-
ances, and the site thereof, and may assign unto said Trustee all of its
li.8
rights to receive rentals under and pursuant to the "Contract, Lease and
Option" by and between the City and the City of Paducah Public Improvement
Corporation, together with any other contracts or instruments, if any, which
the said Trustee may require to discharge its duties properly in the securinf
of the interests of the contemplated owners and holders of the Bonds to be
issued as herein, provided: and the City of Paducah Public Improvement
Corporation is requested and authorized to enter into an agreement with
said Trustee to define and delineate said rights and duties of the Trustee,
which contract may be in the form of a "Mortgage Deed of Trust" or other app
ropriate instruments.
Section 6. Appropriate city officials are hereby authorized and
directed to take all steps necessary to make all credits and grants, here-
tofore available to the City of Paducah for this project, beneficially
available to the Corporation for the same purpose, and the monies heretofore
accumulated in the building fund for this project are hereby appropriated
and made available therefor, to the extent necessary.
SECTION 7. This Ordinance shall be in full force and effect from
and after its adoption and approval, as provided by law.
INTRODUCED AND GIVEN FIRST READING APPROVAL at a Regular Meeting of
the Board of Commissioners of the City of Paducah, Kentucky, held on the
8th day of October, 1963.
GIVEN SECOND READING APPROVAL AND FINALLY ADOPTED by the Board of
Commissioners at an Adjourned Meetinp held on the 18th day of October, 1963,
on the same occasion signed by the Mayor as evidence of his approval,
attested under seal by the City Clerk, and declared to be in full force
and effect.
Z� el.
Robert C. Cherry, M or
City of Paducah, Kentucky
(SEAL)
ATT T:
Sa— rah Thurman, City Clerk
City of Paducah, Kentucky
CERTIFICATION
The undersigned, Sarah Thurman, City Clerk of the City of Paducah,
.McCracken County, Kentucky, hereby certifies that the foregoing is a true
and correct copy of an Ordinance .finally adopted and approved on Second
Readinp by the Board of Commissioners of said City, at an adjourned regular
meeting of said Board held on the 18th day of October, 1963, on the same
occasion sinned by the ?Mayor in open session as evidence of his approval,
attested under seal by me as City Clerk, and declared by the Mavor to be in
full force and effect,
11ITNESS my hand and the seal of said Cit y this 19th day of Oct. 1963.
( SEAL )t�4 c 1t%/i�s.•c �z L _
City Clerk
Citv of. Paducah, Kentuck}