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HomeMy WebLinkAboutOrdinances Book 15, Page 900, No Ordinance Number900/ U AN ORDINANCE ESTABLISHING AND CREATING A FUND OF THE CITY OF PADUCAH, KENTUCKY TO BE KNOWN AS "CITY OF PADUCAH CHAMBER OF COMMERCE INDUSTRIAL DEVELOPMENT FUND", AND PROVIDING FOR THE USE THEREOF . WHEREAS, for many years Chapter 102 of Kentucky Revised Statutes has authorized the creation of a corporate body known as the Chamber of Commerce in cities of the second, third and fourth class for the purpose of advertising and developing natural resources and promoting the general welfare, better business methods and civic conditions, and WHEREAS, Section 102.060 therein provides that under certain conditions the governing body.of.said city could appropriate from its general fund certain funds, not exceeding $2,500.00 semi-annually, for certain use of Chambers of Commerce organized under said Chapter, and WHEREAS, the General Assembly of the Commonwealth of Kentucky, at its Regular 1966 Legislative Session, enacted an Act.amending said Section 102.060, which amendment is in words and figures as follows: "BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE COMMONWEALTH OF KENTUCKY: Section 1. Section 102.060 of the Kentucky Revised Statutes ,is amended to read as follows: Whenever, after the filing of the articles of incorporation, the chamber of commerce has secured not less than one hundred bona fide members, and has raised from among its members by membership dues for the ensuing six months a fund of not less than $1,250, which fund is in the possession of the treasurer and I� I: available for carrying on the work of the chamber of commerce, li the board of directors may, by resolution adopted semiannually, direct the secretary and treasurer of the chamber of commerce 1 to certify to the city governing body and the Fiscal Court of the county the number of bona fide members and the amount of funds on hand and available for the ensuing six months. The city governing body and the Fiscal Court of the county each may at its next regular session appropriate from the general fund of the city or the county treasury as the case may be and pay to the treasurer of the chamber of commerce any part or all of the sum requested. The chamber of commerce shall expend monies so appropriated by the city governing body and the fiscal court for industrial development purposes only. The provisions of this section shall be applicable to chambers of commerce organized and existing under the provisions of KRS Chapter 273." 901 Said amendment removed the limitation as to the amount that could be appropriated and extended the provisions therein to apply to the Fiscal Court of the County; provided that all appropriations should be expended for industrial development purposes only; and provided that said section should be applicable to Chambers of Commerce organized and existing under Chapter 273 of the Kentucky Revised Statutes, and WHEREAS, said 1966 Act will become effective on June 16, 1966, and WHEREAS, the Chamber of Commerce in Paducah, McCracken County, Kentucky is known as "Greater Paducah Chamber of Commerce, Inc.", and is organized and existing under the aforesaid Chapter 273 of Kentucky Revised Statutes, and . WHEREAS, the Board of Commissioners of the City of Paducah, Kentucky, deems it desirable and advantageous that the sum of $75,000.00 be appropriated from its General Fund for use by said Greater Paducah Chamber of Commerce, Inc. for industrial development purposes only, under the terms of the aforesaid section, as shon as is legally possible; provided that an appropriation of like amount for such purposes be made by the Fiscal Court of McCracken County, Kentucky. NOW THEREFORE, BE IT ORDAINED BY THE BOARD OF COMMISSIONERS OF THE CITY OF PADUCAH, KENTUCKY: SECTION 1. That there is hereby established and created a fund to be known as "City of Paducah Chamber of Commerce Industrial Development Fund". SECTION 2. That the City Manager and City Treasurer be, and they are hereby, directed and authorized to deposit the sum of $75,000.00 from the General Fund of the City in Peoples First National Bank & Trust Company of Paducah, in an account to be known as "City of Paducah Chamber of Commerce Industrial Development Fund", Said amount of $75,000.00 in said account shall be transferred by the said Manager and Treasurer to the Treasurer of Greater Paducah Chamber of Commerce, Ins. as shon as possible after June 16, 1966, subject to the following conditions: (a) That said Greater Paducah Chamber of Commerce, Inc. on or after June 16, 1966 complies with all requirements set forth in Section 102.060 of Kentucky Revised Statutes, as amended by the 1966 General Assembly of the Commonwealth of Kentucky, and certifies its action in connection therewith to the herein Board of Commissioners. (b) That a similar sum of $75,000.00 is paid at the same time under the terms of said Section 102.060 by the Fiscal Court of 902 McCracken County to the Treasurer of said Greater Paducah Chamber of Commerce, Inc. for use for industrial development purposes only. (c) That said transfer to the Treasurer of said Greater Paducah Chamber of Commerce, Inc. is not prevented by law or court action. Any additional action by the said Board of Commissioners as may be necessary on its part to validate the aforesaid transfer to the Treasurer of the said Greater Paducah Chamber of Commerce, Inc. shall be taken and made a matter of public record, and pending said transfer to said Treasurer, such funds shall remain in complete control of the City of Paducah. SECTION 3. That at the time of the transfer to the Treasurer of Greater Paducah Chamber of Commerce, Inc. authorized in Section 2 hereof, the Mayor is hereby authorized and empowered to execute, on behalf of the City, any necessary contracts with said Greater Paducah Chamber of Commerce, Inc. or any other documents in connection therewith after the same have been approved by the Corporation Counsel of the City. SECTION 4. If for any reason such City of Paducah -Chamber of Commerce Industrial Development Fund account in Peoples First National Bank & Trust Company of Paducah is not transferred to the Treasurer of Greater Paducah Chamber of Commerce, Inc., the same shall be withdrawn by the City Manager and City Treasurer and placed in the General Fund of the City. SECTION 5, This ordinance shall be introduced ana remain on file for at least one 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 days thereafter. mayor Introduced by the Board of Commissioners April 7, 1966 Adopted by the Board of Commissioners April 14,.1966 Recorded by Sarah Thurman, City Clerk, April 14, 1966.