HomeMy WebLinkAboutOrdinances Book 16, Page 787, Ordinance Number 68-11-136787
IX
ORDINANCE NO. 68-11-136
AN ORDINANCE AUTHORIZING THE DISPOSITION OF A PORTION OF THE
$1,270,000.00 PRINCIPAL AMOUNT OF CITY OF PADUCAH VOTED PUBLIC
FACILITIES BONDS FOF THE PURPOSE OF ACQUIRING, IMPROVING AND OPERATING
THE FOREST HILLS PROPERTIES IN THE CITY OF PADUCAH, KENTUCKY
WHEREAS by ordinance passed by the Board of Commissioners of the
City of Paducah, Kentucky on November 12, 1968, the entire amount of
the $1,270,000.00 principal amount of City of Paducah Voted Public
Facilities Bonds was authorized, and
WHEREAS in Section 2 (f) of said ordinance it was provided that
an additional ordinance would be passed authorizing the expenditure
of funds needed for closing the purchase transaction and proration
of cost.
NOW THEREFORE, BE IT ORDAINED BY THE BOARD OF COMMISSIONERS OF
THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. That the City Treasurer be, and he hereby is,
authorized and directed to pay from the Forest Hills Acquisition,
Improvement and Operating Account the following sums:
(a) $109.30 to Elmer Y. Hollis & Associates for survey
inspection and printing of engineering data.
(b) $48.68 to William B. Byrd, Attorney-at-law, for costs
in incorporating the Forest Hills Public Project Corporation
for operating the Forest Hills Property.
(c) $10.90 to the McCracken County Court Clerk for recording
fees of the deed from the Federal Housing Commissioner
to the Paducah -McCracken Development Council, for recording
the deed from the Paducah -McCracken Development Council
to the City of Paducah, and for recording the Lease from
the City of Paducah to the Forest Hills Public Project
Corporation.
(d) A prorata share of $3,865.50 for in -lieu -of taxes shall be
paid to the Sheriff of McCracken County for that portion of
the year 1968 as is represented by the number of days
remaining in said year after the purchase of the Forest Hills
property as applied to the entire year.
(e) A prorata share of $5,092.50 shall be paid to the City
Treasurer for in--lieu-of taxes for the year 1968 as shall
be determined by applying the number of days remaining in
the year 1968 after the date of purchase of the Forest Hills
property to the number of days between July 1, 1968 and
December 31, 1968.
(f) A prorata share of $6,097.50 s'aall be paid to the City
Treasurer for the Paducah Independent School District for
in -lieu -of taxes for the year 1968 as shall be determined
by applying the number of days remaining in the year 1968
after the date of purchase of the Forest Hills property
to the number of days between July 1, 1968 and December
31, 1968. The City Treasurer is authorized to make this
payment even in excess of $1,000.00 as the authorization
for making a prorata payment of city and school taxes
has heretofore been established by ordinance.
788
SECTION 2. This ordinance shall be in full force and effect
from and after its adoption.
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Mayor /
Passed by the Board of Commissioners November 19, 1968
Recorded by Sarah Thurman, City Clerk, November 19, 1968.