HomeMy WebLinkAboutMO #2982MUNICIPAL ORDER NO. 2982
A MUNICIPAL ORDER AUTHORIZING THE MAYOR TO EXECUTE
A CONTRACT WITH SPROCKET, INC. IN A TOTAL AMOUNT NOT
TO EXCEED $100,000 WITH $75,000 BEING ALLOCATED TO
PROVIDE SMALL BUSINESS DEVELOPMENT AND
ENTREPRENEURIAL PROGRAMS AND UP TO $25,000 BEING
ALLOCATED FOR REIMBURSEMENT OF A FINANCIAL AUDIT
BE IT ORDERED BY THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. That the Mayor is hereby authorized to execute a contract
with Sprocket, Inc.in an amount not to exceed $100,000 payable as follows:
• Sprocket will receive the amount of $75,000 payable in equal quarterly
installments of $18,750, with the first installment being due no later than fifteen
days after the full execution of the Contract, and upon receipt of an invoice and
subsequent payments being due December 31, 2024, March 31, 2025, and
June 30, 2025. This contract shall expire June 30, 2025.
• The City will reimburse Sprocket for the actual cost of a financial audit in an
amount not to exceed $25,000 after being presented with an Invoice.
SECTION 2. This expenditure shall be charged to the Investment Fund,
Account No. 24000401-580810
SECTION 3. This Municipal Order shall be effective from and after the
date of its adoption.
LkPAI__�
George Bray, Mayor
ATTEST:
indsay Paris ity Clerk
Adopted by the Board of Commissioners, November 12, 2024
Recorded by Lindsay Parish, City Clerk, November 12, 2024
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