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MUNICIPAL ORDER NO. 763
A MUNICIPAL ORDER AUTHORIZING GREATER PADUCAH ECONOMIC
DEVELOPMENT COUNCIL (G.P.E.D.C.) TO MARKET ON BEHALF OF THE CITY OF
PADUCAH THE SALE OR LEASE OF THE TECHNOLOGIES SERVICES GROUP
BUILDING LOCATED ON 2400 IRVIN COBB DRIVE IN PADUCAH, KENTUCKY
BE IT ORDERED BY THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. The City hereby authorizes G.P.E.D.C. to act as its agent for the
purposes of marketing the sale or lease of the Technologies Services Building located at 2400
Irvin Cobb Drive, Paducah, Kentucky. G.P.E.D.C. shall publicize at its own expense the
availability of the building which is owned by the City and shall screen all offers tendered to it by
interested persons or entities. G.P.E.D.C. shall then submit the offer which it considers most
favorable in the terms of job creation, economic development and price.
SECTION 2. Upon approval of the offer submitted to the City, the Mayor is
hereby authorized to execute all documents necessary to accept the offer and to fu fill the City's
obligations to G.P.E.D.C. which includes the reconveyance of the building to G.P.E.D.C. after the
satisfaction of the existing mortgage on the premises in favor of the Commonwealth of Kentucky.
SECTION 3. This order will be in full force and effect from and after the date of
its adoption.
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ATTEST:
Lenita Smith, City Clerk
Adopted by the Board of Commissioners, July 22, 1997
Recorded by Lenita Smith, City Clerk, July 22, 1997
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