HomeMy WebLinkAboutMO # 014MUNICIPAL ORDER NO. 14
A MUNICIPAL ORDER AUTHORIZING THE CITY MANAGER TO NEGOTIATE
AN AGREEMENT WITH GROWTH, INC., TO PRE-SCREEN INDUSTRIAL REVENUE
BOND APPLICATIONS
WHEREAS, the Kentucky Revised Statutes have greatly expanded the
City's ability to issue industrial revenue bonds, and
WHEREAS, the Board of Commissioners lacks specific expertise in
making the necessary investigation of prospective industrial revenue bonds, and
WHEREAS, Growth, Inc., has expertise in the requirements of the com-
munity and the needs of potential developers in the application of industrial
revenue bonds.
NOW, THEREFORE, BE IT ORDERED BY THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. That the City Manager is hereby directed to negotiate with
Growth, Inc.
on the terms and conditions
of Growth, Inc.
to pre-screen applicants
for industrial
revenue bonds and make a
recommendation
to the Board of Com-
missioners on said applications.
SECTION 2. The City Manager is to include in his negotiations such
matters which include but are not limited to the following: reasonable application
fees, service fees, basic criteria for applicants to meet before filing request for
industrial revenue bonds.
SECTION 3. This order shall be in full force and effect immediately
upon its adoption.
Mayor
Passed by
the Board
of Commissioners October 14,
1980
Recorded
by Louise
McKinney, City Clerk, October
14, 1980.
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