HomeMy WebLinkAbout76-6-1288185
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ORDINANCE NO. 76-6-1288
AN ORDINANCE EXEMPTING PRECISION MACHINE SHOP , LTD . FROM THE
PAYMENT OF CERTAIN CITY TAXES FOR A PERIOD OF FIVE YEARS
WHEREAS,'it is provided by Section 92.300'(1) that the legislative body
of any city of the second to sixth class may, by ordinance, exempt manufacturing
establishments from city taxation for a period not exceeding five years as an
inducement to their location in the city, and
WHEREAS , Precision Machine Shop, Ltd". has requested such exemption for
the purpose of establishing a manufacturing establishm'~ent in the City~of Paducah,
Kentucky , and
WHEREAS , the Board of Commissioners of the City of Paducah; Kentucky,
desires to grant 'such exemption as an inducement for said manufacturing establishment
to be located in the city .
NOW THEREFORE , BE IT ORDAINED BY THE BOARD OF COMMISSIONERS OF
THE CITY OF- PADUCAH ,KENTUCKY:
SECTION 1. That the real estate to be purchased: by Precision Machine Shop . Ltd .
for a manufacturing site, together with all of it's associated manufacturing equipment
subject to city taxation, be exempted from such city taxation as provided for by
Section 92.300(1) for a period of five years, beginning with the taxes assessed as of
January 1, next following the date of purchase of said real estate and equipment, as an
inducement for said establishment to be located within the corporate limits of the City of
Paducah, Kentucky. The aforesaid real estate is commonly known as 1231 South Third
Street (Hougland Marine Service), Paducah, Kentucky.
SECTION 2. If at any time said Precision Machine Shop , Ltd . should cease
operating said manufacturing establishment, except periods of non-manufacturing
activities caused by accidents, mishaps, breakdowns, strikes or other unavoidable
occurrences or casualties , the exemption granted herein shall be immediately cancelled
and held for naught.
SECTION 3. This ordinance shall be in full force and effect from and after
the date of its adoption .
~~~, ~
Mayor . . .
Passed by the Board of Commissioners June 22 1976
'Recorded by Sarah Thurman; City Clerk, June 22, 1976-.