HomeMy WebLinkAboutPWW KIA Loan (Reidland) RESOLUTION
RESOLUTION OF THE CITY OF PADUCAH, KENTUCKY
APPROVING AND AUTHORIZING AN ASSISTANCE AGREEMENT DATED
AS OF MARCH 1, 2010 BETWEEN THE CITY OF PADUCAH, KENTUCKY AND THE
KENTUCKY INFRASTRUCTURE AUTHORITY
WHEREAS, the City Commission "Governing Authority of the City of
Paducah, Kentucky "Governmental Agency has previously determined that it is in the
public interest to acquire and construct certain facilities and improvements to the
Governmental Agency's Water System (the "Project and
WHEREAS, the Governmental Agency has made application to
the Kentucky Infrastructure Authority (the "Authority for the purpose of providing
monies to acquire and construct the Project; and
WHEREAS, in order to obtain such monies, the Governmental Agency
is required to enter into an assistance agreement dated as of March 1, 2010 (the
"Assistance Agreement with the Authority.
NOW, THEREFORE, BE IT RESOLVED by the City Commission
of the City of Paducah, Kentucky, as follows:
SECTION 1. That the Governing Authority hereby approves and
authorizes the Assistance Agreement between the Governmental Agency and the
Authority substantially in the form on file with the Governmental Agency for the purpose
of providing the necessary financing to the Governmental Agency for the acquisition and
construction of the Project.
SECTION 2. That the Mayor and City Clerk of the Governmental Agency
be and hereby are authorized, directed and empowered to execute necessary documents or
agreements, and to otherwise act on behalf of the Governmental Agency to effect such
financing.
SECTION 3. That this resolution shall take effect at the earliest time
provided by law.
Mayor
ATTEST:
/311.0 ck
Tammara S. Brock, City Clerk
Adopted by the Board of Commissioners, March 9, 2010
Recorded by Tammara S. Brock, City Clerk, March 9, 2010
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