HomeMy WebLinkAbout2015-06-8252188483
ORDINANCE NO. 2015 — 6 -8252
AN ORDINANCE AUTHORIZING AND APPROVING THE
PURCHASE OF A CERTAIN TRACT OF REAL ESTATE
GENERALLY LOCATED AT 1414 BROADWAY,
PADUCAH, MCCRACKEN COUNTY, KENTUCKY, FROM
POWELL PROPERTIES I LTD, ITS SUCCESSORS AND
ASSIGNS, FOR A PUBLIC PURPOSE
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WHEREAS, the Board of Commissioners of the City of Paducah has determined that it is
necessary, appropriate, or in the best interest of the City to purchase a certain tract of real estate generally
located at 1414 Broadway, Paducah, McCracken County, Kentucky 42001, which is more particularly
described on Exhibit A attached hereto (the "Property"); and
WHEREAS, the City of Paducah has reached an agreement for the purchase of the
Property with the owner thereof, Powell Properties I LTD, its successors and assigns, ("Seller") for the
purchase price of TWENTY FOUR THOUSAND AND 00/100 DOLLARS ($24,000.00), which agreement is
to be memorialized by a written real estate purchase agreement to be entered into by and between the
parties; and
WHEREAS, the Board of Commissioners of the City of Paducah concur and find that
the purchase of the Property for the purchase price of TWENTY FOUR THOUSAND AND 00/100
DOLLARS ($24,000.00) is in the best interest of the City.
BE IT ORDAINED BY THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. The Board of Commissioners of the City of Paducah hereby
approves and consents to the purchase and acquisition of the Property from Seller for the
purchase price of TWENTY FOUR THOUSAND AND 00/100 DOLLARS ($24,000.00) and further
approves of the negotiation and execution of a real estate purchase agreement between the City
and Seller upon such terms and conditions approved by Police Chief Brandon Barnhill and
Corporate Counsel for the City of Paducah. It is hereby found and determined that the acquisition
is public property to be used for the public purposes of the City.
SECTION 2. It is further determined that the Mayor, on behalf of the City of
Paducah, Kentucky, is authorized to execute the real estate purchase agreement and to execute
the warranty deed and any other documents necessary to accomplish and consummate the
purchase and acquisition of the Property from Seller in accordance with this Ordinance.
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SECTION 3. The Finance Director is hereby authorized to make said expenditure
approved in Section 1 from non -rolling stock/property acquisition account #040-161-521-4207 of the
City of Paducah, Kentucky.
SECTION 4. Corporate Counsel is hereby authorized to conduct such due
diligence and investigation as it deems necessary and in the best interest of the City. Further,
Corporate Counsel is authorized to prepare the real estate purchase agreement, warranty deed,
closing statement and any other documents necessary to accomplish and consummate the
purchase and acquisition of the Property from Seller in accordance with this Ordinance.
SECTION 5. If any section, paragraph or provision of this Ordinance shall be held to be
invalid or unenforceable for any reason, the invalidity or unenforceability of such section, paragraph or
provision shall not affect any of the remaining provisions of this Ordinance.
SECTION 6. This City Commission hereby finds and determines that all formal actions
relative to the adoption of this Ordinance were taken in an open meeting of this City Commission, and
that all deliberations of this City Commission and of its committees, if any, which resulted in formal
action, were in meetings open to the public, in full compliance with applicable legal requirements.
SECTION 7. All ordinances, resolutions, orders or parts thereof in conflict with the
provisions of this Ordinance are, to the extent of such conflict, hereby repealed and the provisions of this
Ordinance shall prevail and be given effect.
SECTION 8. This ordinance shall be read on two separate days and will become
effective upon summary publication pursuant to KRS Chapter 424.
is
ATTEST:
Introduced by the Board of Commissioners, May 26, 2015.
Adopted by the Board of Commissioners, June 2, 2015.
Recorded by City Clerk, June 2, 2015.
Published by The Paducah Sun, June 6, 2015.
\ord\property-1414 broadway-police dept
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EXHIBIT "A"
BEGINNING ON THE SOUTH SIDE OF BROADWAY AT THE
INTERSECTION OF THE SOUTH LINE OF BROADWAY WITH THE
EAST LINE OF A 30 -FOOT PUBLIC ALLEY (MORE SPECIFICALLY, A
25 -FOOT ALLEY AND A 5 -FOOT LANDSCAPE STRIP OF SEARS,
✓ ROEBUCK AND CO.); THENCE SOUTHWARDLY WITH THE EAST
LINE OF THE LANDSCAPE STRIP 173.25 FEET TO A POINT; THENCE
AT RIGHT ANGLES TOWARD THE RIVER 54 FEET TO THE WEST
LINE OF THE LOT CONVEYED TO JOE MARSHALL BY DEED
RECORDED IN DEED BOOK 440, PAGE 320, MCCRACKEN COUNTY
COURT CLERKS' OFFICE; THENCE IN A NORTHERLY DIRECTION
WITH THE WEST LINE OF MARSHALL'S LOT 173.25 FEET TO
BROADWAY 54 FEET TO THE POINT OF BEGINNING.
BEING A PART OF THE SAME PROPERTY CONVEYED TO POWELL
PROPERTIES I, LTD, A KENTUCKY LIMITED LIABILITY COMPANY,
BY DEED DATED OCTOBER 18, 1995, OF RECORD IN DEED BOOK
840, PAGE 519, MCCRACKEN COUNTY COURT CLERK' S OFFICE.
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