HomeMy WebLinkAboutOrdinances Book 15, Page 703, No Resolution Number703
A RESOLUTION OF THE BOARD OF CONVISSIO_VCRS OF THC CITY OF PAgUCAH,
KENTUCKY, ACCEPTING THE SUCCESSFUL BID ON $400,000 OF CITY -OF PADUCAH INDUSTRIAL
BUILDING REVENUE BONDS, DATED AUGUST 1, 1965.
ICEREAS, notice of sale of A00,000 of City of Paducah Industrial
Building Revenue Bonds, dated August 1, 1965, has heretofore been given in
strice compliance with law by publication in the Paducah Sun -Democrat, the news-
paper published in the City of Paducah, Kentucky, which has the largest circu-
lation therein, in The Courier -Journal, published in. Louisville, Kentucky, and
of general circulation throughout Kentucky, and in The Bond Buyer, published in
New York, New York, and of general circulation among bondbuyers, which publica-
tions are hereby authorized, ratified and approved, and
? M?E4S, the Clerk of the City of Paducah and the City's Fiscal Agent
have furnished prospective bidders inquiring for same Further Information as to
Sale of Bonds and Bid Forms in the same form as previously approved, and
hHCREAS, all bids received for such bonds have been duly considered
and are as follows:
Bidder
1. The Kentucky Company,
Acting as Agent for
other principals
2.
4.
5.
Interest
Rate(s)
1966-1982, inclusive
5 3/4%
Amount Bid, Plus Accrued
Interest .from
August 1, 1965.
a?392,000
?-hEIMAS, the matter of which bid is the most advantageous to the City
of Paducah, Kentucky, has been sufficiently considered,
NOV., THE-R&FORE, THE BOARD OF C01-;:ISSIOI:'ERS OF THE CITY OF PADUCAH,
KENTUCKY, DOES ICREBY RESOLVE AS FOLLOWS:
1. That the bid of The Kentucky Company, Actin; as Agent for other
Principals for the said ~400,000 of City of Paducah Industrial Building Revenue
Donds, dated August 1, 1965, be and is hereby accepted and confirmed, the said
bid being at a price of "392,000.00 for the ;;400,000 principal amount
of the bonds plus accrued interest from August 1, 1965, bearing interest at the
rate(s) of 1966-1982 inclusive 5 3/4%
and that said bid is hereby determined
to be the highest and best fcr the City for said bonds, and ;L2 intarest rate(s)
on said bonds are hereby fixed at the rates) as set out in said successful bid.
704
2. That said bonds shall be delivered by the City Treasurer and/or
other proper City officials to said purchaser as soon as ready in accordance
with the ordinance authorizing such bonds, and the proceeds of same shall be
used only as provided in said ordinance.
3. That the acceptance of this bid subjects the City to no .liability
if for any reason it is unable to obtain the final approving legal opinion of
Skaggs and Hays, Attorneys, Louisville, Kentucky, and the purchaser shall not be
required to tate up such Bond without such final approving legal opinion.
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76). 7d e-2,—d.�c�
Mayor -- -
(Seal of City)
Zest:
City Clerk
Adopted br the Board of Commissioners August 17, 1965
Recorded by Sarah Thurman, City Clerk, August 17, 1965.