HomeMy WebLinkAboutOrdinances Book 17, Page 669, Ordinance Number 71-6-488669
I,_
ORDINANCE NO. 71-6-488
AN ORDINANCE EXEMPTING PORTEC, INC. FROM THE PAYMENT OF CERTAIN
CITY TAXES FOR A PERIOD OF FIVE YEARS
WHEREAS, it is provided by Section 92.300(1) that the legislative
body of any city of the second to sixth class may, by ordinance, exempt
manufacturing establishments from city taxation for a period not
exceeding five years as.an inducement to their location in the city, and
WHEREAS, Portec, Inc. has requested such exemption for the purpose
of establishing a manufacturing establishment in the City of Paducah, _
Kentucky, and
WHEREAS, the Board of Commissioners of the City of Paducah, Kentucky,
desires to grant such exemption as an inducement for said manufacturing
establishment to be located in the city,
NOW THEREFORE, BE IT ORDAINED BY THE BOARD OF COMMISSIONERS OF THE
CITY OF PADUCAH, KENTUCKY:
SECTION 1. That the following described real estate to be purchased
by Portec, Inc. for a manufacturing site, together with all of its
associated manufacturing equipment subject to city taxation be exempted
from such city taxation as provided for by Section 92.300(1) for a period
of five years, beginning with the taxes assessed as of July 1 next
following the date of purchase of said real estate as an inducement for
said establishment to be located in Paducah, Kentucky, said real estate
being more particularly.described as follows, to -wit -
All that certain land and improvements sometimes
known as The Claussner Building and Land located
at 28th & Jackson Streets in Paducah, Kentucky,
and more particularly described as thirteen tracts
in a deed to Lee S. Powell dated June 22, 1970, and
recorded in Deed Book 519, page 385, in the McCracken
County Court Clerk's office.
SECTION2. If at any time said Portec, Inc. should cease
operating said manufacturing establishment, except periods of non-
manufacturing activity caused by accidents, mishaps, breakdowns, strikes
or other un,voidable occurrences or casualties, the exemption granted
herein shall be immediately cancelled and held for naught.
SECTION 3. This ordinance shall be in full force and effect from and
after its adoption. )
Mayor Protem
� Commissioner
Commissioner
Adopted by the Board of Commissioners June 14, 1971
Recorded by Sarah Thurman, City Clerk, June 14, 1971.