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ORDINANCE NO. 87-4-2988
AN ORDINANCE APPROVING THE.EXECUTION OF A LEASE BETWEEN THE
CITY OF PADUCAH AND ZACHARY TAYLOR COMPANY FOR RIVERFRONT PROPERTY
BETWEEN BROADWAY AND JEFFERSON
BE IT ORDAINED BY THE CITY OF PADUCAH, KENTUCKY: I T",
SECTION 1. That the Mayor is authorized to execute a lease
between the City of Paducah, Lessor, and Zachary Taylor Company,
Lessee, for 300 feet, more or -less, of Riverfront property between
Broadway and Jefferson Streets under the following conditions:
1. The term of this lease shall be ten (10) years.
2. The lease amount shall be $1,600 per year for the first
five (5) years and $2,500 per year for the remaining
five (5) years.
3. The use of the leased property would be restricted to
the development of a cruise boat/wharf boat and/or
restaurant and associated activites.
4. No.bulk.storage of combustibles.will be allowed.
5. Lessee must obtain all necessary permits or approvals
from the U.S. Corps of Engineers, and any other state or
federal:agencies that are deemed necessary. -
6. : The Corporation Counsel shall approve the form of the
lease. All other provisions that he finds necessary for
inclusion are hereby approved.
SECTION 2. This ordinance shall be read on two separate days
and will become effective upon publication of title and a certified
summary thereof.
JOE VITERISI
Mayor
Introduced by the Board of Commissioners March 2.4, 1987
Adopted by the Board of Commissioners April 14, 1987
Recorded by Lenita Smith, City Clerk, April 14, 1987
Published by The Paducah Sun April 20, 1987.