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ORDINANCE NO. 99-4-6014
AN ORDINANCE PROVIDING AUTHORITY TO THE MAYOR TO EXECUTE ON
BEHALF OF THE CITY A DEED AND OTHER NECESSARY DOCUMENTS TO
FACILITATE THE PURCHASE OF THE PROPERTY LOCATED AT 425-431
BROADWAY FROM JUNE R. KEILER, TRUSTEE UNDER AGREEMENTS DATED
AUGUST 25, 1959, FOR THE USE AND BENEFIT OF JOHN WILLIAM KEILER, III,
AND JAMES STEPHEN KEILER, JOHN WILLIAM KEILER, III, JAMES STEPHEN
KEILER AND WIFE, RHONDA KAYE KEILER, BYRON PRINZMETAL,
SUCCESSOR CO -TRUSTEE AND AS AGENT FOR THE SUCCESSOR
CO -TRUSTEES OF THE BLANCHE K. EARL REVOCABLE TRUST DATED
NOVEMBER 7, 1983, AND AKM 4-24-43 PARTNERSHIP.
WHEREAS, revitalization of the Downtown area of Paducah is important
to the City of Paducah, Kentucky; and,
WHEREAS, unoccupied buildings in the City of Paducah Downtown area
affect the City of Paducah, Kentucky and present an opportunity for Downtown
development; and,
WHEREAS, the City has entered into a Contract to Purchase the property
located at 425-431 Broadway;
WHEREAS, the City of Paducah, Kentucky, through its Board of
Commissioners, has determined that the purchase of this real property is in the public
interest and will assist with continued Downtown revitalization.
BE IT ORDAINED BY THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. That the Mayor, on behalf of the City of Paducah, Kentucky,
is hereby authorized to execute a Deed and any other documents necessary for the purchase
of the property located at 425-431 Broadway from June R. Keiler, Trustee under
agreements dated August 25, 1959, for the use and benefit of John William Keiler, III, and
James Stephen Keiler, John William Keiler, III, James Stephen Keiler and wife, Rhonda
Kaye Keiler, Byron Prinzmetal, Sucessor Co -Trustee and as Agent for the Successor
Co -Trustees of the Blanche K. Earl Revocable Trust Dated November 7, 1983, and AKM
4-24-43 Partnership.
SECTION 2. That time is of the essence in preserving the sale of the
property to Duke & Long Distributing Company, Inc., a ready, willing and able Purchaser,
which will enhance the economic development of the Downtown area of Paducah, and in
order to complete the project proposed by Duke & Long during the current construction
season, an emergency is hereby declared to exist and this ordinance shall become effective
immediately with one reading.
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170
ATTEST:
Lenita Smith, Ci y Clerk
Introduced and adopted by the Board of Commissioners April 5, 1999
Recorded by Lenita Smith, City Clerk, April 5, 1999
Published by The Paducah Sun April 9, 1999
I hereby certify that the above is a true and correct copy of an ordinance
adopted by the City of Paducah on April 5, 1999.
wi nword/realest/penney
Lenita Smith, City Clerk
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