HomeMy WebLinkAbout98-6-5877616V
ORDINANCE NO. 98-6- 5877
AN ORDINANCE OF THE BOARD OF COMMISSIONERS OF THE CITY OF
PADUCAH, KENTUCKY, AUTHORIZING THE MAYOR AND CITY CLERK
TO EXECUTE A DEED TO THE BOARD OF EDUCATION OF THE
PADUCAH INDEPENDENT SCHOOL DISTRICT AND THE PADUCAH
INDEPENDENT SCHOOL DISTRICT FINANCE CORPORATION
RECONVEYING CERTAIN PROPERTIES FROM THE CITY THROUGH THE
BOARD OF THE CORPORATION ORIGINALLY CONVEYED TO THE CITY
IN CONNECTION WITH SCHOOL BUILDING REVENUE BOND ISSUES.
WHEREAS, pursuant to an Ordinance adopted on December 13,
1937, and the provisions of KRS 162.120 through 162.290, the City
of Paducah, Kentucky ("City"), acted as the issuing agency for the
Board of Education of the Paducah Independent School District
("Board") in connection with issues of School Building Revenue Bonds
previously issued by the City on behalf of the Board to finance
school building improvements; and
WHEREAS, in order to issue said Bonds, the City of Paducah
acquired property from the Board of Education of the City of
Paducah, more specifically described in deed dated December 2, 1937,
and recorded in Deed Book 193 , page 442 , in the McCracken
County Clerk's office, more commonly known as the "Walter Jetton
School" (hereinafter "properties") ; and
WHEREAS, the bond issues have been retired and the property
described in the aforementioned deed should be reconveyed to the
Board of Education of the City of Paducah;
NOW, THEREFORE, BE IT AND IT IS HEREBY ORDAINED BY THE BOARD
OF COMMISSIONERS OF THE CITY OF PADUCAH, KENTUCKY, AS FOLLOWS:
1. That the Mayor and City Clerk shall be and they are
hereby authorized to execute a Deed conveying to the
Board and the Corporation those properties previously
conveyed to the City in connection with the Bonds. Said
reconveyance shall be made in accordance with the
provisions of KRS 162.120 through 162.290 and the
respective bond ordinances pursuant to which the Bonds
were authorized.
2. Upon the conveyance of the properties described in said
Deed from the City through the Board to the Corporation,
all of the City's rights, title and interest in and to
the properties so conveyed shall cease, as shall all of
the City's duties and obligations with regard to said
properties.
3. That all ordinances, resolutions or orders in conflict
with the provisions hereof shall be repealed, and this
Resolution shall take effect and be in force immediately.
Introduced and given first reading on the 16th day of
.Time , 1998.
Given second reading and passed and adopted on the 23rd day
of Jme 1998.
CITY OF PADUCAH, KENTUCKY
Mayor
ATTEST:
it Clerk
Recorded by Lenita Smith, Cit. Clerk, June 23, 1998
Published by The Paducah Sun p
124530.1