HomeMy WebLinkAboutMO #2510MUNICIPAL ORDER NO. 2510
A MUNICIPAL ORDER APPROVING AND AUTHORIZING A LOAN
INCREASE REQUEST FOR THE PUMP STATION #2 CLEAN WATER STATE
REVOLVING FUND LOAN IN THE AMOUNT OF $750,000 AND AUTHORIZING
THE MAYOR TO EXECUTE ALL DOCUMENTS RELATED TO SAME
WHEREAS, the City Commission of the City of Paducah, Kentucky, has
previously determined that it is in the public interest to acquire and construct certain
facilities and improvements to the City's Wastewater System (the "Project"); and
WHEREAS, the Governmental Agency has made application to the
Kentucky Infrastructure Authority (the "Authority") for the purpose of providing monies
to construct the Project; and
WHEREAS, Municipal Order 2127 was approved on July 24, 2018, by the
Board of Commissioners to obtaining financing through the Authority in the amount of
$4,610,667; and
WHEREAS, additional funding is now being sought for the purpose of
providing for unforeseen engineering and construction cost related to the Pump Station
42 Rehabilitation Project; and
WHEREAS, the Authority is currently considering requests for additional
funding from current loan holders; and
WHEREAS, the City desires to add an additional $750,000.00 to the loan
limit for a total loan limit of $5,360,667.00 under the original loan terms; and
WHEREAS, if approved, the Loan Increase Agreement would be brought
before the Commission for action before acceptance.
KENTUCKY:
NOW, THEREFORE, BE IT ORDERED BY THE CITY OF PADUCAH,
SECTION 1. That the Governing Authority hereby approves and
authorizes a Loan Increase Request to the Kentucky Infrastructure Authority for Pump
Station #2 Clean Water State Revolving Fund Loan in the amount of $750,000.
SECTION 2. That the Mayor is hereby authorized, directed and
empowered to execute all documents necessary to apply for the Loan Increase, as
authorized in Section 1, above.
SECTION 3. That this order shall J4 in/f4ll force aro effect from and
after the date of its adoption.
Bray,
ATTEST:'tt_ A
ndsay Parish, y Clerk
Adopted by the Board of Commissioners, September 28, 2021
Recorded by Lindsay Parish, City Clerk, September 28, 2021
MO\KIA Clean Water State Revolving Fund Loan Pump Station 2 — Amendment #2
Certificate
I, the undersigned, hereby certify that I am the duly qualified and acting City
Clerk of the City of Paducah, Kentucky; that the foregoing is a full, true and correct copy
of a Municipal Order adopted by the City Commission of said City at a meeting duly held
on September 28, 2021; that said official action appears as a matter of public record in
the official records or journal of the governing authority; that said meeting was held in
accordance with all applicable requirements of Kentucky law, including KRS 61.810,
61.815, 61.820 and 61.823; that a quorum was present at said meeting; that said official
action has not been modified, amended, revoked or repealed and is now in full force and
effect.
IN TESTIMONY WHEREOF, witness my signature this day of
.2021.
Lindsay Parish, City Clerk