HomeMy WebLinkAboutMO # 1163MUNICIPAL ORDER NO. 1163
A MUNICIPAL ORDER AUTHORIZING THE CITY OF PADUCAH
TO TERMINATE THE RENAISSANCE KENTUCKY FUNDING AGREEMENT
NO. RK04-DR050 ENTERED INTO BY AND BETWEEN THE CITY OF PADUCAH
AND THE COMMONWEALTH OF KENTUCKY DEPARTMENT OF
GOVERNMENT, RENAISSANCE KENTUCKY, PURSUANT TO THE CITY OF
PADUCAH'S RIGHTS UNDER SECTION 8.4 OF SAID AGREEMENT
WHEREAS, the City of Paducah (hereinafter "City") has previously
applied for and received an allocation of Renaissance Kentucky 2003 Downtown
Revitalization Funds in the amount of $10,500.00 for facade improvements on the Weille
building located at 619 Broadway, Paducah, Kentucky;
WHEREAS, the above -referenced funding grant was memorialized in
Funding Agreement No. RK04-DRO50 (hereinafter "the Agreement") entered into by
and between the City and the Commonwealth of Kentucky, Department for Local
Government (hereinafter "DLG") on August 2, 2004;
WHEREAS, no reimbursable costs have been expended by the City
toward the completion of the Project, as defined under the Agreement, and no expenses
will be incurred during the next thirty (30) days, therefore, termination of the Agreement
_ is in the best interest of the City;
( WHEREAS, Section 8.4 of the Agreement provides that the Agreement
may be terminated by either party without cause upon thirty (30) days written notice to
the other party.
IT IS HEREBY ORDERED as follows:
SECTION 1. That the City hereby authorizes the invocation of its rights
under Section 8.4 of the Agreement, thereby authorizing the delivery of the necessary
written notice of termination in substantially the same form as attached hereto and made a
part hereof as Exhibit "A," and the subsequent termination of the Agreement. Further,
the Mayor is hereby authorized and directed to execute all documents necessary to
effectuate the termination of the Agreement.
SECTION 2. This Municipal Order shall be in full force and effect on and
after the date of its adoption.
ATTEST:
J,,.�.,
Susan McClellan, Assistant City Clerk
Adopted by the Board of Commissioners, October 19, 2005
Recorded by Susan McClellan, Assistant City Clerk, October 19, 2005
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