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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