HomeMy WebLinkAboutMO #2945MUNICIPAL ORDER NO. 2945
A MUNICIPAL ORDER APPROVING THE ACCEPTANCE OF A $365,000
SUBDIVISION PERFORMANCE AND WARRANTY SURETY BOND WITH
TRAILS END DEVELOPMENT, LLC FOR TRAILS END SUBDIVISION, AND
AUTHORIZING THE MAYOR TO EXECUTE SAID ACCEPTANCE AND ALL
DOCUMENTS RELATED TO SAME
WHEREAS, the Paducah Planning Commission recommended by Resolution dated
September 7, 2023, the adoption of an Ordinance approving the revised final plat of subdivision of
property located at 125 Ridgeview Street; and
WHERAS, On October 24, 2023, the Paducah City Commission adopted Ordinance
2023-10-8793, approving the final report of the Paducah Planning Commission on the proposed
final subdivision of property of Walker Properties of Western Kentucky, LLC., located at 125
Ridgeview Street, accepting the dedication of right of way of Ridgeview Street, Joey Way, and
Petter Avenue, accepting public utility easements, authorizing the Mayor to subscribe a Certificate
of Approval on the plat, and authorizing the Mayor to execute the Subdivision Performance and
Warranty Surety Bond for $365,000.00; and
WHEREAS, The City and Walker Properties of Western Kentucky, LLC entered into
a Subdivision Performance and Warranty Bond Agreement on August 24, 2024. The City accepted
a $365,000.00 Subdivision Performance and Warranty Surety Bond based on the subdivision's
public infrastructure costs; and
WHEREAS, since executing the said agreement, Walker Properties of Western
Kentucky, LLC has sold the development to Trails End Development, LLC., as evidenced by the
deed filed in Deed Book 503, Page 704. The existing Subdivision Performance and Warranty Surety
Bond with Walker Properties of Western Kentucky, LLC., has been terminated and the Commission
wishes to enter into a new Bond for $365,000.00 with Trails End Development, LLC.
KENTUCKY:
NOW, THEREFORE, BE IT ORDERED BY THE CITY OF PADUCAH,
SECTION 1. Recitals. That the City of Paducah hereby approves the acceptance of a
$365,000 Subdivision Performance and Warranty Surety Bond with Trails End Development, LLC,
for Trails End Subdivision. The Mayor of the City of Paducah is hereby authorized to execute the
Bond together with such other agreements, instruments or certifications which may be necessary.
SECTION 2. Severability. If any section, paragraph or provision of this Municipal Order
shall be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such
section, paragraph or provision shall not affect any of the remaining parts of this Municipal Order.
SECTION 3. Compliance with Open Meetings Laws. The City Commission hereby finds
and determines that all formal actions relative to the adoption of this Municipal Order were taken in
an open meeting of this City Commission and that all deliberations of the City Commission and of its
committees, if any which resulted in formal action, were in meetings open to the public in full
compliance with applicable legal requirements.
SECTION 4. Effective Date. This Order shall be in full fore and effect from and after the
date of its adoption. (:j L hi�
George Bray, Mayor
ATTEST:
UpU-A a A a S umo L
Claudia S. Meeks, Assistant City Clerk
Adopted by the Board of Commissioners, August 13, 2024
Recorded by Claudia S. Meeks, Assistant City Clerk, August 13, 2024
MO\Performance and Surety Bond Trails End Development LLC — Trails End Subdivision