HomeMy WebLinkAbout04/17/9155
T3nT T rl A T.T
At a Called Meeting of the Board of Commissioners
held in the Commission Chambers at City Hall at 4:30 p.m.,
Wednesday, April 17, 1991, Mayor Montgomery presided, and
upon call of the roll by the City Clerk, the following
answered to their names: Commissioners Grumley, Hornsby and
Mayor Montgomery (3).
NOTICES OF CALLED MEETING
Commissioner Grumley offered motion, seconded by
Commissioner Hornsby, that the executed copies of the Notice
of Called Meeting to be held at 4:30 p.m., Wednesday, April
17, 1991, be received and filed. Adopted on call of the
roll, yeas, Commissioners Grumley, Hornsby and Mayor
Montgomery (3).
R & F BIDS
Commissioner Hornsby offered motion, seconded by
Commissioner Grumley, that the following bids be received
and filed:
I. For City of Paducah, Kentucky Water Works
Revenue Refunding Bonds, Series 1991:
a) Kemper Securities Group, Inc.
b) William Hough & Co.
c) JJB Hilliard, W.L.Lyons, Inc. & Asso.
Adopted on call of the roll, yeas, Commissioners Grumley,
Hornsby and Mayor Montgomery (3).
WATER BOND MUNICIPAL ORDER
Commissioner Grumley offered motion, seconded by
Commissioner Hornsby, that a Municipal Order entitled,
"ORDER OF THE CITY COMMISSION OF THE CITY OF PADUCAH,
KENTUCKY, ACCEPTING THE SUCCESSFUL BID FOR THE PURCHASE OF
THE CITY OF PADUCAH, KENTUCKY WATER WORKS REVENUE REFUNDING
BONDS, SERIES 1991, DATED APRIL 1, 199111, be adopted.
Adopted on call of the roll, yeas, Commissioners Grumley,
Hornsby and Mayor Montgomery (3).
ORDINANCE - ADOPTION
WATER BOND, SERIES 1991
Commissioner Hornsby offered motion, seconded by
Commissioner Grumley, that the Board of Commissioners adopt
an ordinance entitled, "AN ORDINANCE OF THE CITY OF PADUCAH,
f
i
KENTUCKY, AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF
$10,755,000 PRINCIPAL AMOUNT (WHICH MAY BE INCREASED OR.
REDUCED BY AS MUCH AS 100) OF CITY OF PADUCAH, KENTUCKY,
WATER WORKS REVENUE REFUNDING BONDS, SERIES 1991, DATED
APRIL 1, 1991, FOR THE PURPOSE OF REFUNDING A PORTION OF THE
OUTSTANDING CITY OF PADUCAH WATER WORKS REVENUE REFUNDING
BONDS, SERIES 1985, DATED APRIL 1, 1985, AND PROVIDING FOR
THE PAYMENT OF THE PRINCIPAL OF AND INTEREST ON SAID SERIES
1991 BONDS; PROVIDING FOR THE RIGHTS OF THE OWNERS OF SAID
SERIES 1991 BONDS AND THE ENFORCEMENT THEREOF; AND PROVIDING
FOR AN ADVERTISED, PUBLIC, COMPETITIVE SALE OF SAID SERIES
BONDS". This ordinance is summarized as follows:
Authorizing and providing for the issuance of $10,755.000
principal amount of City of Paducah, Kentucky, Water Works
Revenue Refunding Bonds, Series 1991, dated April 1, 1991,
for the purpose of refunding a portion of the outstanding
City of Paducah Water Works Revenue Refunding Bonds, Series
1985, dated April 1, 1985, and providing for payment of the
principal of and interest on said Series 1991 Bonds;
providing for the rights of the owners of said Series 1991
Bonds and the enforcement thereof; and providing for an
advertised, public, competitive sale of said series bonds.
Adopted on call of the roll, yeas, Commissioners Grumley,
Hornsby and Mayor Montgomery (3).
Upon motion the meeting adjourned.
Adopted: April 23, 1991
City Clerk
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