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HomeMy WebLinkAbout2023-12-8800ORDINANCE NO. 2023-12-8800 AN ORDINANCE OF THE CITY OF PADUCAH, KENTUCKY AMENDING THE DEFINITION OF "PROJECT" IN THE ORDINANCE OF THE CITY DATED NOVEMBER 26, 2019, TO PERMIT THE PROCEEDS OF THE CITY'S GENERAL OBLIGATION BONDS, SERIES 2020A TO BE SPENT FOR COSTS OF OTHER PUBLIC PROJECTS WHEREAS, on November 26, 2019, the Board of Commissioners (the "Board") of the City of Paducah, Kentucky (the "City") enacted an ordinance (the "Series 2020A Bond Ordinance") that authorized the issuance of the City of Paducah, Kentucky General Obligation Bonds, Series 2020A (the "Series 2020A Bonds") for the purposes of (a) acquiring, constructing, equipping, and installing a municipal sports and recreational facility located within the jurisdictional boundaries of the City consisting of, without limitation, (i) an indoor aquatic facility with competitive swimming, warm water, and therapy amenities, (ii) basketball, volleyball, weight lifting, fitness, running, and walking amenities, (iii) concession amenities, (iv) viewing areas, (v) locker rooms, (vi) childcare space, and (vii) meeting space (collectively, the "Aquatic Center Project"), (b) paying capitalized interest on the Series 2020A Bonds during construction of the Aquatic Center Project, and (c) paying costs of issuance of the Series 2020A Bonds; and WHEREAS, the Board has determined not to move forward with the Aquatic Center Project as a result of the difficulties presented by the COVID-19 pandemic and other challenges related to the Aquatic Center Project; and WHEREAS, the Board desires to amend the definition of "Project" within the Series 2020A Bond Ordinance to permit the City to expend the remaining proceeds of the Series 2020A Bonds for other public projects of the City, which would have otherwise originally qualified for financing with use of the proceeds of the Series 2020A Bonds under Sections 66.011 et. seq. of the Kentucky Revised Statutes, as amended (the "General Obligation Act"), including: (i) an outdoor public sports complex consisting of softball, baseball, and rectangular fields (soccer and similar uses) and other related facilities and amenities; (ii) new terminal facilities and improvements at Barkley Regional Airport; (iii) new facilities and equipment to be utilized by the 911 Communications Services Division of the City's Police Department; and (iv) one or more additional public projects deemed necessary or desirable by the Board (collectively, the "New Projects"); and WHEREAS, the amendment of the definition of "Project" within the Series 2020A Bond Ordinance does not require the consent of holders of the Series 2020A Bonds, but will promote transparency by the City in its application of the proceeds of the Series 2020A Bonds to the New Proj ects; NOW, THEREFORE, BE IT ORDAINED by the City of Paducah, Kentucky, as follows: Section 1. Affirmation and Incorporation of Preamble. The facts and statements contained in the foregoing preamble of this Ordinance, including the terms defined therein, are hereby affirmed and incorporated as a part of this Ordinance. Section 2. Declaration of Public Purpose and Necessity. The Board hereby declares each of the New Projects to be public projects engaged in by the City for public purposes under the General Obligation Act. The Board hereby confirms the necessity of the Series 2020A Bonds and hereby declares the necessity of each of the New Projects as required by Section 66.101 of the General Obligation Act. Section 3. Amendment of Definition of Project in Series 2020A Bond Ordinance. The definition of "Project" in the Series 2020A Bond Ordinance is hereby amended and restated in its entirety as follows: -1- "Project" means the acquisition, construction, installation, and equipping by the City of each of the following: (i) an outdoor public sports complex consisting of softball, baseball, and rectangular fields (soccer and similar uses) and other related facilities and amenities; (ii) new terminal facilities and improvements at Barkley Regional Airport; (iii) new facilities and equipment to be utilized by the 911 Communications Services Division of the City's Police Department; and (iv) one or more additional public projects deemed necessary or desirable by the Board. Section 4. Further Actions. In connection with the undertaking and implementation by the City of the amendment herein described, which is hereby expressly directed, the Designated Officers of the City (as defined in the Series 2020A Bond Ordinance) are hereby authorized and directed to take and carry out such further necessary, desirable, or appropriate actions to effect such amendment. Section 5. Severability. If any one or more of the provisions of this Ordinance should be determined by a court of competent jurisdiction to be contrary to law, then such provisions shall be deemed to be severable from all remaining provisions and shall not affect the validity of such other provisions. Section 6. Inconsistent Actions. All prior ordinances, resolutions, orders, or parts thereof inconsistent herewith are hereby repealed. The Series 2020A Bond Ordinance, except to the extent otherwise amended herein, is hereby affirmed. Section 7. Open Meetings Compliance. All meetings of the Board and of its committees and any other public bodies, at which the formal actions in connection with this Ordinance, or at which deliberations that resulted in such formal actions were held, were open meetings, and such formal actions were taken and any such deliberations took place while such meetings, after proper notice, were open to the public, in compliance with all legal requirements including KRS Sections 61.805 through 61.850. Section 8. Effective Date. This Ordinance shall become effective immediately upon adoption and publication of a summary thereof, as provided by law. 2- SIGNATURE PAGE TO ORDINANCE INTRODUCED AND PUBLICLY READ ON FIRST READING on November 28, 2023. PUBLICLY READ, ADOPTED AND APPROVED ON SECOND READING, this 12th day of December, 2023. Attest: By: A��)� L- & — Lind y Parish Ci Clerk George P. Bray Mayor CERTIFICATION I, the undersigned, do hereby certify that I am the duly qualified and acting City Clerk of the City of Paducah, Kentucky, and as such City Clerk, I further certify that the foregoing is a true, correct, and complete copy of an Ordinance duly enacted by the Board of Commissioners of the City at a duly convened meeting held on December 12, 2023, on the same occasion signed by the Mayor as evidence of his approval, and now in full force and effect, all as appears from the official records of the City in my possession and under my control. Witness my hand as of December /8, 2023. ORD\ Paducah 2020A - Amending Ordinance (22500356.1) -3- � CZa mdsay Pari City Clerk