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MUNICIPAL ORDER NO.�
A MUNICIPAL ORDER OF THE CITY OF PADUCAH, KENTUCKY AUTHORIZING
AND APPROVING THE EXECUTION OF A FIRST SUPPLEMENTAL FIXED RATE
LEASE PURCHASE AGREEMENT AND AN ESCROW TRUST AGREEMENT WITH
RESPECT TO THE DEFEASANCE OF A LEASE RELATING TO $4,955,000 CITY
OF DANVILLE, KENTUCKY MULTI -CITY LEASE REVENUE BONDS (CITY OF
PADUCAH, KENTUCKY PUBLIC PROPERTIES PROJECT), FIXED RATE SERIES
1991-C; AND AUTHORIZING OTHER ACTIONS IN CONNECTION THEREWITH
WHEREAS, the City of Danville, Kentucky ("Danville") heretofore issued its Multi -City Lease
Revenue Bonds (City of Paducah, Kentucky Public Properties Project), Fixed Rate Series 1991-C (the
"Bonds"), the proceeds of which were loaned to the City of Paducah, Kentucky (the "City") pursuant to
a Fixed Rate Lease Purchase Agreement dated as of July 10, 1991 (the "Lease") between the City, as
lessee, and Kentucky Municipal Finance Corporation, as lessor (the Lessor") in order to finance various
municipal construction projects (collectively, the "Project"); and
WHEREAS, the City has determined that it is in the best interests of the City that the City defease
the Lease, thereby reducing the City's outstanding obligations; and
WHEREAS, in order to accomplish the defeasance of the Lease it is necessary that the City enter
into a First Supplemental Fixed Rate Lease Purchase Agreement (the "Supplemental Lease") with the
Lessor and an Escrow Trust Agreement (the "Escrow Agreement") with the Lessor and PNC Bank,
Kentucky, Inc., as escrow trustee (the 'Escrow Trustee").
NOW, THEREFORE, BE IT ORDERED BY THE CITY OF PADUCAH, KENTUCKY AS
FOLLOWS:
Section 1. Affirmation of Recitals. It is hereby found, determined and declared that the recitals
set forth in the preambles to this Municipal Order, which are hereby incorporated in this Section by
reference, are true and correct.
Section 2. Authorization of Supplemental Lease and Escrow Agreement. The Mayor, City Clerk
and other appropriate officers of the City are hereby authorized to execute, acknowledge and deliver on
behalf of the City the Supplemental Lease and Escrow Agreement, in substantially the forms as presented
to this Board of Commissioners, with such changes therein not inconsistent with this Municipal Order and
not materially adverse to the City as may be approved by the officers executing the same on behalf of the
City.
Section 3. Further Acts and Deeds. The Mayor, City Clerk and other appropriate officers of the
City are hereby authorized and directed to proceed with the Lessor and the Escrow Trustee in structuring
the defeasance of the Lease, and the Mayor, City Clerk and other appropriate officers of the City are
hereby authorized to execute, acknowledge and deliver on behalf of the City any and all contracts,
agreements, instruments, certificates, affidavits and other documents and to do and cause to be done any
and all other acts and things necessary or proper for implementing and effectuating the transactions
authorized by this Municipal Order.
Section 4. Severahility. If any section, paragraph, clause or provision of this Municipal Order
shall be held invalid, the invalidity of such section, paragraph, clause or provision shall not affect any of
the remaining provisions.
Section 5. Con icts. All resolutions, orders or parts thereof in conflict with the provisions of
this Municipal Order are, to the extent of such conflict, hereby repealed.
Section 6. Effective Date. This Municipal Order shall be in full force and effect from and after
its adoption and approval as provided by law.
This Municipal Order was introduced, seconded and adopted at a du convened meeting of the
Board of Commissioners of the City of Paducah, Kentucky, held on the /4 day of January, 1997.
ATTEST: Albert J es, Mayor
enita mith, City Clerk
Adopted by the Board of Commissioners on 9'7 7
Recorded by Lenita Smith, City Clerk on / ,�
CERTIFICATION
The undersigned, City Clerk of the City of Paducah, Kentucky, does hereby certify that the
foregoing is a true copy of a Municipal Order duly adopted by the Board of Commissioners of the City
of Paducah, Kentucky, signed by the Mayor at a duly convened meeting properly held on the Z^ay
of January, 1997, that all actions taken in connection with such Municipal Order were in compliance with
the requirements of KRS 61.810, 61.815, 61.820 and 61.825 and that said Municipal Order is now in full
force and effect, as shown by the official records in my custody and under my control.
(SEAL)
WITNESS my hand and the seal of the City of Paducah, this /47�-day of January, 1997.
Lenita Smith, City Clerk
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