HomeMy WebLinkAbout2004-4-6785ORDINANCE NO. 2004-4-6785
AN ORDINANCE AUTHORIZING AND APPROVING THE
ACCEPTANCE OF THE TRANSFER OF TRACTS "D" AND
"E" IN THE INDUSTRIAL PARK WEST BY DEED FROM THE
PADUCAH-MCCRACKEN COUNTY INDUSTRIAL
DEVELOPMENT AUTHORITY, FOR NOMINAL
1 CONSIDERATION, TO THE CITY OF PADUCAH,
KENTUCKY, AND THE COUNTY OF MCCRACKEN,
KENTUCKY, WITH RESPECT TO A PUBLIC PROJECT, AND
AUTHORIZING THE EXECUTION OF THE DEED OF
CONVEYANCE
WHEREAS, the City of Paducah, Kentucky (the "City") has previously determined, and
hereby further determines, that is a public purpose to reduce unemployment in the City, to
increase the City's tax base, to foster economic development within the City and to promote the
development of a skilled workforce, all to the benefit of the citizens and residents of the City;
and
WHEREAS, the City has further determined that it is necessary and desirable to
accomplish such public purposes that the City proceed at this time with the acquisition,
construction and installation of an approximately 100,000 square foot facility (the "Project"),
which Project is to be jointly owned by the City and the County of McCracken, Kentucky (the
"County") and is to be financed in part on an interim basis through the issuance of the City's
General Obligation Bond (the "Bonds"); and
WHEREAS, in order to provide for the issuance of the Bonds and to secure same it is
�- necessary and desirable that the City now authorize the acceptance of the transfer of Tracts "D"
and "E" in the Industrial Park West by deed from the Paducah -McCracken County Industrial
Development Authority (the "Authority"), for nominal consideration, to the City and the County,
with respect to the Project.
NOW THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE
CITY OF PADUCAH, KENTUCKY, AS FOLLOWS:
Section 1. Recitals and Authorization. The City hereby approves the Deed of
Conveyance from the Authority to the City and the County (the "Deed") in substantially the form
attached hereto as Exhibit A and made part hereof. It is hereby found and determined that the
Project identified in the Deed is public property to be used for public purposes. It is further
determined that it is necessary and desirable and in the best interests of the City to enter into the
Deed for the purposes therein specified, and the execution of the Deed is hereby authorized and
approved. The Mayor of the City is hereby authorized to execute the Deed, together with such
other agreements, instruments or certifications which may be necessary to accomplish the
transaction contemplated by the Deed with such changes in the Deed not inconsistent with this
Ordinance and not substantially adverse to the City as may be approved by the official executing
the same on behalf of the City. The approval of such changes by said official, and that such are
not substantially adverse to the City, shall be conclusively evidenced by the execution of such
Deed by such official.
Section 2. Severability. 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 3. Compliance With Open Meetings Laws. 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 4. Conflicts. 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 5. Emergency. Pursuant to KRS 83A.060, the City Commission suspends the
requirement of a second reading and publication of this Ordinance. As grounds therefore, the
City Commission does hereby declare an emergency to exist as to the execution of the Deed.
Specifically, any delay in the execution of the Deed could adversely impact the Project.
Section 6. Effective Date. This Ordinance shall become effective upon the first reading
of this Ordinance.
ATTEST:
MMwJ&CA'
Tammara S. Brock, City Clerk
Introduced and adopted by the Board of Commissioners, April 5, 2004
Recorded by Tammara S. Brock, City Clerk, April 5, 2004
Published by The Paducah Sun, April 12, 2004
\ord\Infiniti-Transfer Deed
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DEED OF CONVEYANCE
THIS DEED made and entered into this the 26th day of March, 2004, by and
between PADUCAH-MCCRACKEN COUNTY INDUSTRIAL DEVELOPMENT
AUTHORITY, a body politic and corporate established in accordance with the laws of the
( 1
w." Commonwealth of Kentucky, of P O Box 1155, Paducah, KY 42002-1155, (hereinafter called
"Grantor") and CITY OF PADUCAH, KENTUCKY, a body politic and corporate, of P O Box
2267, Paducah, KY 42002-2267, and COUNTY OF MCCRACKEN, KENTUCKY, a body
politic and corporate, of 301 South 6th Street, Paducah, KY 42003, (hereinafter collectively called
"Grantees");
WITNESSETH:
THAT FOR AND IN CONSIDERATION of the sum of $1.00, cash in hand paid
by the Grantees to the Grantor, the receipt of which is hereby acknowledged, and the issuance of
general obligation bonds under either Chapter 58 or Chapter 66 of the Kentucky Revised Statutes
for the construction of a public project, Grantor sold and does by these presents grant, bargain,
sell, alien and convey an undivided one-half (1/2) interest unto each of the Grantees, their
successors and assigns forever, together with all the improvements, appurtenances and rights
thereunto belonging, the following described property, lying and being in McCracken County,
Kentucky, and more particularly described as follows:
BEING TRACT "D", CONSISTING OF 12 ACRES, AND
TRACT "E"; CONSISTING OF 7.2207 ACRES, IN THE
INDUSTRIAL PARK WEST AS SET FORTH ON THE
WAIVER OF SUBDIVISION OF THE INDUSTRIAL PARK
WEST TO CREATE NEW TRACT "D", AND TRACT "E" OF
THE PADUCAH-MCCRACKEN COUNTY INDUSTRIAL
DEVELOPMENT AUTHORITY PROPERTY OF RECORD IN
PLAT SECTION "L", PAGE 1166, MCCRACKEN COUNTY
COURT CLERK'S OFFICE.
BEING A PART OF THE SAME PROPERTY CONVEYED TO
PADUCAH-MCCRACKEN COUNTY INDUSTRIAL
DEVELOPMENT AUTHORITY BY DEEDS DATED JULY 2,
1997, OF RECORD IN DEED BOOK 875, PAGE 32, DATED
APRIL 25, 1997, OF RECORD 1IN DEED BOOK 871, PAGE 672,
AND DATED JULY 2, 1997, OF RECORD IN DEED BOOK
875, PAGE 28, MCCRACKEN COUNTY COURT CLERK'S
OFFICE.
TO HAVE AND TO HOLD the same, together with all improvements thereon
and all rights and appurtenances thereunto pertaining unto Grantees, their successors and assigns
FIN
forever, with Covenant of General Warranty, except easements, covenants and restrictions of
record.
Grantor and Grantees hereby swear and affirm, under penalty of perjury, that the
foregoing transfer of real property is made by gift, nominal consideration, or no consideration
and, further, that the estimated fair cash value for the property hereby transferred is: $700,000.00.
[This section intentionally left blank.]
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IN WITNESS WHEREOF, the Grantor and Grantee have hereunto set their hands.
PADUCAH-MCCRACKEN COUNTY
INDUSTRIAL DEVELOPMENT
AUTHORITY
By
Title
STATE OF KENTUCKY )
COUNTY OF MCCRACKEN)
The foregoing instrument was sworn and acknowledged before me this day
of March, 2004, by , (title) of the
Paducah -McCracken County Industrial Development Authority, on behalf of said body, Grantor.
My commission expires
CITY OF PADUCAH, KENTUCKY
By
Title
NOTARY PUBLIC, STATE AT LARGE
COUNTY OF MCCRACKEN, KENTUCKY
By
Title
STATE OF KENTUCKY )
COUNTY OF MCCRACKEN)
The foregoing instrument was sworn and acknowledged before me this day
of March, 2004, by (title) of City of
Paducah, Kentucky, on behalf of said body, Grantees.
My commission expires
NOTARY PUBLIC, STATE AT LARGE
82
W
STATE OF KENTUCKY
COUNTY OF MCCRACKEN
The foregoing instrument was sworn and acknowledged before me this day of
March, 2004, by (title) of
County of McCracken, Kentucky, on behalf of said body, Grantees.
My commission expires
THIS INSTRUMENT WAS PREPARED BY
THE UNDERSIGNED WITHOUT THE BENEFIT
OF A TITLE EXAMINATION AND BASED
UPON INFORMATION SUPPLIED BY THE GRANTOR.
THE UNDERSIGNED ASSUMES NO RESPONSIBILITY
FOR ITS ACCURACY.
This instrument prepared by:
DENTON & KEULER
P. O. Box 929
Paducah, KY 42002-0929
52302.wpd
NOTARY PUBLIC, STATE AT LARGE
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