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HomeMy WebLinkAboutOrdinances and Municipal Laws, Page 115J t REVISED ORDINA\CES OF PADUCAH. I City Hall Bonds. City HaU Bonds. An ordinance authorizing the issue of 5 per cent bonds of the city of Paducah for the purpose of building a city ball, and to be known as city hall bonds; it being in pur- suance of section 72 of the revised charter of the city of Paducah, approved February 11, 1371. Be it ordained by the mayor and council of the city of Paducah, Ky.; 1. That the city of Paduc-ah, Ky., may issue her bonds or certificates of loan,to be signed by the mayor and clerk of the council and attested by the seal of the city, and to b. known as city hall bonds; the coupons attached to said bonds to be signed by said council clerk, not exceeding twenty thousand dollars ($2o,600), as follows: Fifty bonds of tate denomination of one hundred dollars each, payable not more than twenty (20) years after the date thereof, and at any time after the expiration of five (5) years from the date of said bonds, at the option of the council of Paducah. Said bonds shat; bear interest per annum at the rate of five (5) per cent from date of issue, payable semi-annually at the office of the treasurer of the city of Paducah upon the pre- sentation of the coupons for interest. 2. That if the council of the city of Paducah shall de- sire to pay any or all of said bonds after the expiration of five (,) years from the date of the issue of same, it may be done by giving notice in some newspaper published in the city of Paducah for at least thirty. (30) days of the number of said bonds they propose to pay, the bonds to be pdid to be determined by lot. If said bonds so called in for payment are not presented to the treasurer of said city at his office for payment within thirty (30) days from the publication of said notice, then the interest on said bonds so called shall cease. 3• All the real and personal• property in Paducah sub- ject to taxation shall be taxed each year in such an amount 115 E U 116 REVISED ORDINANCES OF PADUCAH. all City Hall Bonds. as may be necessary to pay the interest accruing on said bonds and the principal thereof, when the same may be- come due. or at any time after the expiration of five years. if said council shall elect to pay any or all of said bonds; and the collection of the tax so levied shall, be enforced as 1 in similar cases, as now provided and directed by law.. q. That the clerk of the city council and the city audi- for shall keep a true and correct record of the bonds issued under thio ordinance, date, number and amount thereof, to whom issued, and the price for which the same was sold. 5. That the mayor under the direction of the council is hereby empowered to have said bonds prepared and printed., and to negotiate same, and otherwise carry this ordinance. into effect. 6. Said bonds, when issued, shall be exempt from city taxation of every kind. , 7. Thi; ordinance shall take effect from and after its passage. 3 3 City Hall Bonds. An ordinance authorizing the issuing of 6 per cent bonds. of the city of Paducah, Ky., fir the purpose of building or payine for the city hall of Paducah, now in course of erec- tion, it being in pursuance of section 72 of the revised charter of the city of Paducah, approved February 1t, t871. Be it ordained by the mayor and council of the city of Paducah, Ky.: t. That the city of Paducah may issue her bonds or, certificates of loan not exceeding twelve thousand dollar% ($12,000) to be signed by the mayor and clerk of the city council and attested by the seal of the city. The coupons attached to said bonds to be signed by said council clerk. Said bonds are issued for the purpo•:e of paying for the city hall of Paducah, Ky. Said bonds shall be in sums of REVISED ORDINANCES Or PADUCA.H. City Hall Bonds. one thousand, five hundred and one hundred dollars, payable twenty years after the date thereof, and at any time after the expiration of five (5) years from the date of said bonds,at the i option of the city council, the same or any part of them may be ' paid off by giving notice in s: me newspaper published in the city of Paducah for at least thirty days of the number of said bonds they propose to pay. The bonds to be paid to be determined by lot. If said bond; so called in for pay- ment are not presented to the treasurer of said city at his oflicefor paymentwithin thirty days from the publication ' of said notice, then the interest on said bonds shall cease. 2. Said bonds shall bear aix (6) per cent interest per annum from the date of same, payable semi-annually at the office of the treasurer of said city of Paducah upon the prcrenta:ion of the coupons for interest. j: 3. All the real estate and personal property in the city of Paducah subject to taxation shall be taxed each year in } such an amount as may be necessary to pay the interest accruing on said bonds and the principal thereof when the same may become due or at any time after the expiration of five years if said council shall elect to pay any or all of said bonds. q. Persons neglecting or refusing to pay taxes assessed for the purpose herein named shall be proceeded against as in similar cases, as now provided by law, 5. That the mayor, in conjunction with the finance committee, are hereby empowered as a committee to have said bonds prepared and printed and to negotiate the same And, dtj erwise carry this ordinance into effect. 6. That the council clerk and city auditor under, the control and supervision of the committee authorized in sec- tion g shall keep.a true and correct record of the bonds is- stied under Phis ordinance; date; number, to whom issued tnd the price for which the same were sold. l 117 , 118 REVISED ORDINANCES OF PADUCA'11. City Hall `Bunds: . ' Funding Bonds. 7. Said bonds when issued shall be exempt from city "'taxation of all kind ' " 8. The bonds to be issued in pu•suar-ce of this ..ordi- nance, viz.:. $12,000 are to be in lieu of and substituted for $12,000 of five per cent bonds, provided for in ordinance No. ix, authorizing the issue of $20,000 of bonds to build a city hall and $12,000 of said $po,000 bonds which have not been disposed of are withdrawn and are to be burned in the Pres- ence of the city council.* g. This ordinance shall take effect from and after its �lssage. Adopted April t6, 1883. HENRY H. HOUSTON, C. C. P. Approved April 18, 1883. ' } CHAS. REED, May,.r. Funding Bonds. An ordinance authorizing the issuing of six per cent bonds of the city. of Paducah, for. the purpose of paying off bonds of said city falling due July 1, 1883, the same having . 'been .done in pursxance of section 72 of the revised charter of the city of Paducah, approved February 1t, 1871 - Be it ordained by the mayor and council of the city of Paducah, Ky.: t. That the city may issue her bonds, or certificates of loan, not exceeding forty-five'thousand dollars ($.15,000), GO be signed by the mayor and clerk of the city council, 'and attested by the seal of the said city, the coupons attached L) said bonds to be signed by said coancil clerk. Said bonds ar, issued for the purpose of funding or paying off forty- five bonds of one thousand dollars etch, falling due July t. -,f M3, which were issued by said city of Paducah to the Now Orleans and Ohio Railroad Company. Said bond shall be sums of one thousand dollars each, payable thirty i 1. . j Y I'• i