HomeMy WebLinkAbout80-7-1956722
ORDINANCE NO. 80-7-1956
AN ORDINANCE AUTHORIZING` THE MAYOR TO EXECUTE A- MEMORANDUM
OF AGREEMENT REGARDING ISSUANCE OF' INDUSTRIAL BUILDING "REVENUE BONDS
WHEREAS, MRJ & 'B Corporation 'is desirous 'of constructing a convention`
center -hotel complex, in an area known as Barkley Park, within the City of Paducah,
Kentucky, and
WHEREAS, Robert E. Green, a duly authorized officer of MRJ & B Corporation,
has notified the: City of Paducah that obtaining conventional financing could adversely
affect the development of the entire project, and
WHEREAS,. the Kentucky Revised Statutes, Sections 1U3.200 to 103.285 pro=
vide for the issuance of revenue bonds -,for the development of this type of project.
NOW, THEREFORE, BE IT ORDAINED BYTHE CITY OF PADUCAH, KENTUCKY:
SECTION 1. That "the Mayor of`the City of Paducah is hereby authorized
and instructed to enter into a Memorandum of Agreement regarding issuance of
Industrial Building Revenue Bonds", which"` is attached hereto and ..
made' _a_part of this
ordinance as if set out in full.
SECTION 2`. This ordinance shall be read` at two meetings and become
effective upon publication. "
Mayor
Introduced by' the Board of Commissioners July 29, 1980
Passed by the Board of Commissioners July 30, 1980
Recorded by Louise McKinney, City Clerk, July 30, 1980
Published by The Paducah Sun August 1, 1980.