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MUNICIPAL ORDER NO. 1089
A MUNICIPAL ORDER OF THE CITY OF PADUCAH, KENTUCKY
APPROVING AND AUTHORIZING A SECOND SUPPLEMENTAL
ASSISTANCE AGREEMENT BETWEEN THE CITY OF PADUCAH,
KENTUCKY AND THE KENTUCKY INFRASTRUCTURE AUTHORITY
WHEREAS, the City Council (the "Governing Authority") of the City of Paducah,
Kentucky (the "Governmental Agency") previously determined that it was in the public interest
to acquire and construct certain infrastructure improvements for the benefit of the residents of the
Governmental Agency (the "Project") and
WHEREAS, the Governmental Agency made an application to the Kentucky
Infrastructure Authority (the "Authority") for the purpose of providing monies to permanently
finance the costs of the Project; and
WHEREAS, in order to obtain such monies, the Authority sold its revenue bonds (the
"Prior Bonds") and used a portion of the proceeds thereof to permanently finance the loan to the
Governmental Agency evidenced by the Assistance Agreement dated as of October 1, 1991
between the Governmental Agency and the Authority; and
WHEREAS, the conditions of the municipal bond market are more favorable than at the
time the Authority sold the Prior Bonds to finance such loan, and as a result thereof the Authority
proposes to issue refunding bonds which will refinance such loan; and
WHEREAS, in connection with the refinancing of the loan it is necessary and desirable
that the Governmental Agency enter into a Second Supplemental Assistance Agreement with the
Authority to revise the repayment schedule contained in the Assistance Agreement to reflect the
p lower costs of the financing; and
NOW, THEREFORE, BE IT ORDERED BY THE GOVERNING AUTHORITY OF
THE CITY OF PADUCAH, KENTUCKY AS FOLLOWS:
SECTION 1. That the Governing Authority hereby approves and authorizes the Second
Supplemental Assistance Agreement between the Governmental Agency and the Authority
substantially in the form on file with the Governmental Agency for the purpose of amending the
repayment schedule with respect to the loan for the Project.
SECTION 2. That Mayor and City Clerk of the Governmental Agency be and hereby are
authorized, directed and empowered to execute necessary documents or agreements, and to
otherwise act on behalf of the Governmental Agency to effect such refinancing.
law.
SECTION 3. That this Municipal Order shall take effect upon adoption as provided by
ADOPTED on �, 2004.
Un
Attest:
Title: City Clerk
Recorded by Tammara S. Brock, City Clerk, July 27, 2004
456
CERTIFICATE
I, the undersigned, hereby certify that I am the duly qualified and acting City Clerk of the
City of Paducah, Kentucky; that the foregoing is a full, true and correct copy of a Municipal
Order adopted by the Governing Authority of said City at a meeting duly held on
_, 2004; that said official action appears as a matter of public record in the official records or
journal of the Governing Authority; that said meeting was held in accordance with all applicable
requirements of Kentucky law, including KRS 61.810, 61.815, 61.820 and 61.825; that a quorum
was present at said meeting; that said official action has not been modified, amended, revoked or
repealed and is now in full force and effect.
IN TESTIMONY WHEREOF, witness my signature this _ day of , 2004.
City Clerk
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