HomeMy WebLinkAbout99-4-6022ORDINANCE 99-4- 60 a -2,
AN ORDINANCE AUTHORIZING AND DIRECTING THE MAYOR
TO EXECUTE A CONTRACT WITH PADUCAH & LOUISVILLE RAILWAY, INC.
TO UPGRADE AND REHABILITATE SEGMENTS OF THE CITY LEAD
STREET/RAILWAY CROSSINGS
BE IT ORDAINED BY THE CITY OF PADUCAH, KENTUCKY:
?' SECTION 1. That the Mayor is hereby authorized and directed to execute
an agreement with Paducah & Louisville Railway, Inc. whereby the City of Paducah will
loan the principal sum of $602,000.00 to Paducah & Louisville Railway, Inc. on or before
May 1, 1999, for the purpose of financing the upgrade and rehabilitation of sections of
street/railway crossings along what is known as the "City Lead" within the corporate
limits of the City of Paducah.
Account.
SECTION 2. This expenditure shall be charged to the Debt Service
SECTION 3. This ordinance shall be read on two separate days and will
become effective upon summary publication pursuant to KRS Chapter 424.
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Introduced by the Board of Commissioners March 23, 1999
Adopted by the Board of Commissioners April 13, 1999
Recorded by Lenita Smith, City C erk, April 13, 1999
Published by The Paducah Sun 20
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