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HomeMy WebLinkAbout03/20/87No. 18 Proceedings of March 20, 1987 KTIL POOLED LEASING BOND ORD. (lst Reading) WORKSHOP City of Paducah Board of Conunissioners At a Called Meeting of the Board of Commissioners held in the Commissioner Chambers, at 1:00 p.m. on March 20, 1987, Mayor Viterisi presided and upon call of the roll, the following answered to their names: Commissioners Cole, Coleman, Ford, Grumley and Mayor Viterisi (5). Commissioner Cole offered motion, seconded by Commissioner Coleman, that the executed copies of the Notice of Called Meeting to be held at 1:00 p.m., Friday, March 20, 1987, be received and filed. Adopted on call of the roll, yeas, Commissioners Cole, Coleman, Ford, Grumley and Mayor Viterisi (5). Commissioner Cole offered motion, seconded by Commissioner Coleman, that the Board of Commissioners introduce an ordinance entitled, "AN ORDINANCE OF THE CITY OF PADUCAH APPROVING A POOLED LEASE FINANCING PROGRAM (THE 'PROGRAM') AUTHORIZING (i) THE EXECUTION OF AN AMENDED AND RESTATED INTERLOCAL COOPERATION AGREEMENT UNDER WHICH THE PROGRAM WILL BE ORGANIZED AND REVENUE BONDS FOR THE FINANCING THEREOF WILL BE ISSUED; AND (ii) THE ISSUANCE BY THE CITY OF DANVILLE, KENTUCKY, OF 'KENTUCKY MULTI -CITY LEASE REVENUE BONDS (KENTUCKY MUNICIPAL LEAGUE POOLED FINANCING PROGRAM) SERIES 1987A AND SERIES 1987B' TO FINANCE A CERTAIN PROJECT OR PROJECTS OF THE CITY DESCRIBED HEREIN AND APPROVING (iii) A FORM OF LEASE BETWEEN THE KENTUCKY MUNICIPAL FINANCE CORPORATION, AS LESSOR, AND THE CITY, AS LESSEE, FOR USE IN CONNECTION WITH A POOLED LEASE FINANCING PROGRAM, AND TAKING OTHER RELATED ACTION". This ordinance is summarized as follows: Authorizing the Mayor and City Clerk to execute the following documents: (1) Amended and Restated Interlocal Cooperation Agreement among the City and other cities of the Commonwealth; (2) Lease for financing or refinancing project; (3) All appropriate documents, agreements or instruments necessary to accomplish all transactions; (4) All contracts, agreements, instruments, certificates, affidavits and other documents for implementing and effectuating transactions authorized by this ordinance, Lease, and Restated Agreement; and repealing all resolutions, orders or parts thereof in conflict with the provisions of this Ordinance. Adopted on call of the roll, yeas, Commissioners Cole, Coleman, Ford, Grumley and Mayor Viterisi (5). ADOPTED: The Board the conducted a Workshop. The the conclusion of the Workshop, upon motion the meeting adjourned. t City Clerk Mayor