HomeMy WebLinkAboutOrdinances and Municipal Laws, Page 144144 REVISED ORDINANCES OF PADUCAH.
Funded Bonds. Taking Up Bonds.
6. That the finance committee, in conjunction with the
mayor, are hereby appointed to have said bonds printed,
and have this ordinance carried into effect.
Taking Up Bonds.
An ordinance in relation to the proposition submitted
by the council to the qualified voters of tite city of Paducah
on the 4th day of November, 1858, for the purpose of tak-
ing up bonds, etc.
Be it ordained by the mayor and the common council of
the city of Paducah, Ky.:
Whereas, the New Orlcans and Ohio Railroad company
are the holders of one hundred and fifty (iso) of the one
thousand dollar ($i,000) ccupon bonds of the town of Padu-
call, due and .payable July 1st, 1883, issued oy said town as
,part pay to said railroad company for four thousand shares
subscribed by said town in the capital stock of said New Or-
leuis and Ohio Railroad company, and it being impossible
to negotiate said bonds except at a very great sacrifice, and
that inflicting upon the citizens a heavy liss, and being de-
mroui that said railroad company may make said bonds
available for the completion of said road, and the New Or-
leans and Ohio Railroad company having proposed to the
mayor and councilmen of the city of Paducah, that skid city
should redeem or pay said one hundred and fifty bands by
in issue of bonds of said city for a like amount, payable as
follows: One-sixth patt of wbich shalt be due and 'payable
on the first day of January, i86o; one-sixth part of which
shall I • due and payable on the first day of January, 1861;
one-sixth part due and payable on the ,first day of January,
TF,62; me -sixth part due and payable on the first day of
January, 1863, and one-sixth part due and payable onthefirst
day of January, 1864, anal one-sixth part due and payable on
the first day of January. 1865.
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REVISED ORDINANCES OF PADUCAH.
Taking Up Bonds.
2. And that said bonds shall be of the denomination of
one thousand dollars ($1,000) each, with coupons for interest
at the rate of six per cent per annum, payable at the Metro-
politan National Bank in the city of New York, on the
first day of J,nuary of each year. And,
Whereas, the city of Paducah, by its charter, is bound
t,• make provision for the payment of sa;d bonds issued and
1. aid by the town of Paducah to said tailroad company.
3• Be it therefore enactad by the mayor and common
council of the city of Paducah, that one hundred and fifty
thousand dollars ($r5o,000) six per cent bonds of the de-
nomination of one thousand dollars ($1,000) each, of the city
f Paducah, with coupons attached for the payment of the
interest at the Metropolitan Bank, in the city of New York,
.on the first day of January in each year, shall be issued by
::yid city and paid over to the New Orleans and Ohio Rail-
road company, in payment of like amount of bonds of the
town of Paducah held by said railroad company as aforesaid,
and that said bonds of the city of Paducah shall be made
Payable when due at the Metropolitan Bank in the city of
New York.
4• And that one-sixth of said bonds shall be due and pay-
able on the first day of January, 1860, and one-sixth on the
first day of January, 1861; and one-sixth payable on the first
day of January, 1862; and one-sixth payable on the first day
Of January, 186;,; and ones;xth payable oil the first-day of
January, 1864; one-sixth payable on the first day of January,
1865.
5• Be it further ordained that the mayor and c-rtmcil of
the city of Paducah, that all real estate, slates and rersounl
property in said city shall be taxed each year in such amounts
a; may he necessary tc Ply the interest and principal of each
Of said bonds, to be pai d by the city as the same may become
due and payable, and the tax shall be levied by the mayor
and ccunci! ea; -h year upon all the real estate, Flaves and
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146 REVISED ORDINANCES OF PADUCAH.
Taking Up Bonds. Right of Way.
personal property in said city, upon the value of tl-e same
as made out and returred by the city arses; •r each year.
(. Be it further ordained, that per: -ns refusing to pay
the taxes levied shall b: proceeded against as in similar cases
where they fail or refuse to pay railroad taxes as now pro-
vided 'oy law.
q. Be it further enacted that before this ordinance shall go
int(, cRect, it shall be submitted on Thursday, the 4th day of
November, 1958, to the popular vote of rhe qualified voters
of said city, qualified to vote for mayor and councilmen, and
saic vote shall be taken at the arpointed voting places in
rhe different wards; and if, in such vote, a majority of the
votes cast shall be in favor of this ordinance, then the
same shall go into effect.
S. If, on such vote, a majority of the votes cast shall be
ag,inst this ordina-ice ti•:n the same shall be mill and of
no effect, and if this ordinance shall be alopred as aforesaid
by the popular vote, the m-tyor shall cause the provisions of
the same as to the issue of said bonds to be forthwith
carried into effect.
q. Be it kvther ordained that the mayor and council
shall appoint ?edges and other officers for holding hie elec-
do r on this ordinance on raid fourth o-* Novembe-, 1858, at
the aforesaid voting places in said city; and the judges and
clerks at the different voting places shall return the poll
boos to dee clerk of the city on the day next after said vot-
ing. This ordinance shall be published 'n the tri -weekly
Herald up to the day of von ng, and said officers holding the
election shall be sworn as an other cases of *DLit g in said
city.
Right of Way.
An ordinance granting the right of way to the Psduc•rh
and, Gulf railroad to the river.
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