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HomeMy WebLinkAbout2000-12-6304ORDINANCE NO. 2000 -12 - 6304 AN ORDINANCE APPROVING THE TRANSFER OF $101,000.00 FROM THE CITY COMMISSION CONTINGENCY ACCOUNT TO THE CITY OF PADUCAH URBAN RENEWAL AND COMMUNITY DEVELOPMENT AGENCY'S PROJECT ACCOUNT FOR THE PURPOSE OF FUNDING THE ACQUISITION OF THE FINAL THREE (3) ^, PROPERTIES FOR THE FOUR RIVERS CENTER FOR THE PERFORMING ARTS. WHEREAS, the City of Paducah Urban Renewal and Community Development Agency has entered into (1) an Agreement of Sale with Ted W. & Madonna Brian, dated 12/22/00, (2) an Agreement of Sale with Paper Supplies, Inc., Jimmy Allen & Barbara Allen, dated 12/22/00 and (3) an Agreement of Sale with James L. Adams, David Sullivan, Robert Jerry Bowden and David McCartney, dated 12/22/00, for the acquisition of the final three properties for the Four Rivers Center for the Performing Arts; and WHEREAS, the City has agreed to approve the amounts and the acquisition of the properties by it's Urban Renewal and Community Development Agency; and WHEREAS, the City has agreed to transfer $101,000.00 from the City Commission's contingency account to the City of Paducah Urban Renewal and Community Development Project Account in order to fully fund the acquisitions; NOW, THEREFORE, BE IT ORDAINED, by the City of Paducah, Kentucky: Section 1. The City Treasurer shall transfer $101,000.00 from the City Commission Contingency Account (Account No. 001-01075112452) to the City of Paducah Urban Renewal and Community Development Agency's Project Account (Account No. CD0023). Section 2. In order to expedite the transfer of the funds in order to fully fund the agency's project account, close the sale by year's end and to allow for the breaking of ground for the Four Rivers Center as soon as possible, an emergency is declared to exist, and this ordinance shall become effective immediately with one reading. ALBERT JONES, M OR ATTEST: JaMLDt� Z `�� CITY CLERK, A ss*. Introduced and Adopted by the Board of Commissioners December 27, 2000 Recorded by City Clerk, December 27, 2000 Published by The Paducah Sun Z©a ORD\ 17155 winword\ord\plan\transfer of funds - $101,000