HomeMy WebLinkAbout2015-10-8309192240
ORDINANCE NO. 2015-10-8309
AN ORDINANCE AUTHORIZING AND APPROVING THE
PURCHASE OF A CERTAIN TRACT OF REAL ESTATE
GENERALLY LOCATED AT 619 6' STREET, PADUCAH,
McCRACKEN COUNTY, KENTUCKY, FROM PADUCAH
& LOUISVILLE RAILWAY, INC., 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 619 a Street, Paducah, McCracken County, Kentucky 42001, which is more particularly depicted
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, Paducah & Louisville Railway, Inc., a Kentucky corporation, ("Seller")
for the purchase price of TWO HUNDRED NINETY-FIVE THOUSAND AND 00/100 DOLLARS
($295,000.00), 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 TWO HUNDRED NINETY-FIVE THOUSAND AND
00/100 DOLLARS ($295,000.00) 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 TWO HUNDRED NINETY-FIVE THOUSAND AND 00/100 DOLLARS
($295,000.00) 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 the City
Manager and Corporation Counsel. 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 City Manager, on behalf of the City
of Paducah, Kentucky, is authorized to execute the real estate purchase agreement and the Mayor,
on behalf of the City of Paducah, Kentucky, is hereby authorized to execute the warranty deed
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and any other documents necessary to accomplish and consummate the purchase and acquisition
of the Property from Seller in accordance with this Ordinance.
SECTION 3. The Finance Director is hereby authorized to make said expenditure
approved in Section 1 from general fund 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.
YOR
ATTEST:
i, Wil 4
Ken Zme] M IN
Introduced by the Board of Commissioners, October 6, 2015.
Adopted by the Board of Commissioners, October 13, 2015.
Recorded by Tammara S. Sanderson, City Clerk, October 13, 2015
Published by The Paducah Sun, October 17, 2015.
\ord\prop pur-619 S 6t` — p & 1 railway
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EXHIBIT "A"
Being Tract A, containing of 4.831 acres, as set forth on the Waiver of
Subdivision Plat for P & L Railway 619 6`h Street property, of record in Plat
Section "M", page 318, McCracken County Court Clerk's Office, as
surveyed by Civil Design Group, Inc., a. Clay Robinson, PLS 3219 on
November 8, 2009.
Being part of the same property conveyed to Paducah & Louisville Railway,
Inc., a Kentucky corporation, from VMV Enterprises, Inc., a Kentucky
corporation, by deed dated August 27, 1986, of record in Deed Book 717,
page 403, in the McCracken County Court Clerk's office, and from Illinois
Central Gulf Railroad Company, a Delaware corporation, Mississippi Valley
Corporation, a Delaware corporation, and Citizens Bank and Trust Company
of Paducah, Trustee, by deed dated August 27, 1986, of record in Deed
Book 691, page 342, in the aforesaid clerk's office. Illinois Central Gulf
Railroad Company having acquired the property from Illinois Central
Railroad Company, an Illinois corporation, by deed dated August 10, 1972,
of record in Deed Book 543, page 519, in the aforesaid clerk's office.
Illinois Central Railroad Company having acquired the property from
Chicago, St. Louis and New Orleans Railroad Company, by deed dated July
23, 1951, of record in Deed Book 306, page 301, in the aforesaid clerk's
office. Chicago, St. Louis & New Orleans Railroad Company having
acquired the property from Paducah Union Depot Company, by deed dated
March 21, 1913, of record in Deed Book 100, page 205, in the aforesaid
clerk's office.
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