HomeMy WebLinkAbout04/05/78No. 330
Proceedings of Board of Com miss;oners City of Paducah
April 5, 1978
At a Called meeting of the Board of Commissioners held in the Commission
Chamber in the City Hall, Paducah, Kentucky, -at 8: 00 p.m. on April 5, 1978, Mayor
Murphy presided and upon call of the Roll the following answered to their names: Com-
missioners Coleman, Grumley, Meeks, Puryear and Mayor Murphy (5) .
Mayor Murphy offered motion, seconded by Commissioner Puryear, that the
Executed Copies of the Notices of Called Meeting to be held at 8: 00 p.m. on _ April 5,
1978, be received and filed. Adopted on call of the Roll, Yeas, Commissioners Coleman,
Grumley, Meeks, Puryear and, Mayor Murphy (5)t.
Commissioner Grumley offered motion, seconded by Commissioner Puryear, that
an ordinance entitled:
" AN .ORDINANCE OF THE CITY OF PADUCAH, KENTUCKY AUTHORIZING AND
PROVIDING FOR THE ISSUANCE OF $1,275,000 PRINCIPAL AMOUNT (WHICH MAY BE
INCREASED OR REDUCED BY UP TO $25, 000 TO AS MUCH AS $1,300, 000 OR TO AS
LITTLE AS $1,250,000) OF CITY OF PADUCAH, WATER WORKS REFUNDING REVENUE
BONDS, SERIES OF 1978, DATED APRIL 1, 1978, FOR THE PURPOSE OF REFUNDING
THROUGH ESCROW FOR RETIREMENT AT MATURITY (WITHOUT REDEMPTION IN ADVANCE
OF MATURITY) , THE OUTSTANDING CITY OF PADUCAH (A) WATER WORKS IMPROVE-
MENT AND REFUNDING REVENUE BONDS, SERIES 1965, AND (B) WATER WORKS
REVENUE BONDS, SERIES OF 1972, IN ORDER TO CANCEL CERTAIN RESTRICTIVE
PROVISIONS OF THE EXISTING BOND ORDINANCES AUTHORIZING SAID RESPECTIVE
BONDS AND TO PROVIDE GREATER FLEXIBILITY TO THE CITY IN FINANCING FUTURE
EXTENSIONS, ADDITIONS AND IMPROVEMENTS TO ITS WATER WORKS SYSTEM; PRO-
VIDING FOR THE INVESTMENT OF THE PROCEEDS OF SAID BONDS OF 1978 TO PROVIDE
FOR THE PAYMENT OF THE PRINCIPAL OF AND INTEREST ON SAID BONDS OF 1965
AND 1972, AS SAME MATURE IN ACCORDANCE WITH THE TERMS THEREOF; SETTING
FORTH THE TERMS AND CONDITIONS ON WHICH SAID BONDS OF 1978 AND ADDITIONAL
BONDS RANKING ON A PARITY THEREWITH ARE TO BE AND MAY BE ISSUED AND
OUTSTANDING; PROVIDING FOR THE CREATION OF CERTAIN FUNDS AND THE TRANSFERS
OF CERTAIN AMOUNTS FROM CERTAIN EXISTING FUNDS; PROVIDING FOR THE PAYMENT
OF THE PRINCIPAL OF AND INTEREST ON SAID BONDS OF 1978; PROVIDING FOR THE
RIGHTS OF THE HOLDERS OF SAID BONDS OF 1978 AND THE ENFORCEMENT THEREOF;
AND PROVIDING FOR AN ADVERTISED PUBLIC COMPETITIVE SALE OF SAID BONDS
OF 1978!' be adopted, this being the second and final reading.
Adopted on call of the Roll, Yeas, Commissioners Coleman, Grumley, Meeks, Puryear and
Mayor Murphy (5) .
Commissioner Meeks offered motion, seconded by Commissioner Puryear, as follows:
File notices of Called Meeting
Water Works Bond Issue
Proceedings of
Publication of Bond Ordinance,
Water Works
Executive Session 1�
Proposed ordinance read -
not introduced
Board of Commissioners
No. 331
Chy of Paducah April 5, 1978
I hereby move that the City Clerk be instructed and directed to cause
publication to be made as required by law, one time -in the PADUCAH SUN DEMOCRAT,
one time in THE COURIER -JOURNAL, a newspaper published in the City of Louisville,
Kentucky, and of general circulation throughout the State of Kentucky, and one time
in THE BOND BUYER, a periodical of general circulation among bond issue purchasers,
of a "Notice of Bond Sale" calling for the receipt of -bids for the purchase of $1,275,000
of City of Paducah Water Works Refunding Revenue Bonds, Series of 1978, dated April 1,
1978, in the form attached hereto; that such Notice provide that such bids .shall be
received by the City Clerk until April 17, 1978, at 10: 30 A.M., C .S .T . , immediately
opened by the City Clerk after the expiration of the deadline for the receipt of bids,
and then referred to this Board of Commissioners at 5:30 P.M., C .S .T . , on the same
date, for action on such bids; that the time for such receipt, opening and reference
to this Board may be changed to such other date and hour (s) as may be fixed by the
Mayor; that the Board of Commissioners approve the form of the "Official Terms and
Conditions of Sale of Bonds" in the form attached hereto, to be distributed to -any
interested bidders, in connection with the sale of said Bonds; and that only those bids
be considered for the purchase of said Bonds that are submitted on "Bid Forms" supplied
by the City Clerk, a copy of which Bid Form is .- attached hereto.
Adopted on call of the Roll, Yeas, Commissioners Coleman, Grumley, Meeks, Puryear and
Mayor Murphy (5) .
Commissioner Coleman offered motion, seconded by Commissioner Grumley, that
the Board of Commissioners go into Executive Session for the purpose of collective
bargaining negotiations between the City of Paducah and Local 1586, -AFSCME . Adopted
on call of the Roll, Yeas, Commissioners Coleman, Grumley, Meeks, . Puryear and Mayor
Murphy (5) .
Upon conclusion of the Executive Session, the Board reconvened in regular
session and the Mayor announced that the Board had discussed all aspects of the present
collective bargaining contract between the City of Paducah and Local 1586, AFSCME .
The Mayor then stated that he had proposed an ordinance which he did not intend to
introduce at this meeting, but that he did wish to review to those assembled, Thereupon
the Mayor reviewed the contents of the proposed ordinance and entertained discussions and
questions from those in the aduience .
Upon motion the meeting adjourned.
APPROVED:1��,�Ld.
City Clerk
1
Mayor