HomeMy WebLinkAboutMO # 499ILt,. ,, . — —L i_ Y u al:J
206
MUNICIPAL ORDER NO. 499
A MUNICIPAL ORDER PLEDGING THE SUM OF $125,000.00
TO THE PADUCAH AIRPORT CORPORATION DURING THE 1989-90 FISCAL
YEAR
WHEREAS, the City of Paducah makes yearly''
contributions in the amount of $25,000.00 to the Paducah
Airport Corporation; and
WHEREAS, the Paducah Airport Corporation has need
for improvements that are necessary and essential to the
economic development to take place in this area; and
WHEREAS, the Paducah Airport Corporation has asked
the City of Paducah to pledge $125,000.00 toward said
improvements; and
WHEREAS, it is understood that this one-time
payment will replace the yearly contributions of $25,000.00
for the next five years.
BE IT ORDERED BY THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. The City of Paducah agrees to pledge
$125,000.00 for improvements that are necessary and
essential for the economic development of the Paducah
Airport and will pay said sum to'the Paducah Airport
Corporation during the fiscal year starting July 1, 1989.
through June 30, 1990.
SECTION 2. It is understood that this one-time
payment will replace the yearly contributions of the City of
Paducah in the amount of $25,000.00 for the next five years.
SECTION 3. This Order shall be in full force and
effect from and after the date of its adoption.
GERRY B. MONTGOMERY
Mayor
Adopted by the Board of Commissioners February 14, 1989
Recorded by Lenita Smith, City Clerk, February 14, 1989
\mo/airport.$