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HomeMy WebLinkAboutOrdinances and Municipal Laws, Page 186186 REVISED ORDINANCES OF PADUCAH. I. C.Franc hise River Front. Refunding Bonds, . Sec. 7. Said company shall at all times keep in good repair the gravel portion of said street, alley and cross- ings occupied by its tracks and switches. Sec. 8. Said company shall indemnify and save harm- less the city of Paducah against all damages which may be legally recovered against the said city by any person or corporation on account of said grant of right of way, or by reason of the construction or operation of said rail- road thereof. Sec. 9. This ordinance shall take effect from its pass- age and approval by the mayor. Adopted April 17, 1899• W. H. PATTERSON, C. C. P. Approved April s„ 18gg. JAS. M. LANG, Mayor. Refunding N. O. & O. R. R. Bonds. An ordinance providing for the calling for payment of $45,000 of the city of Paducah bonds, dated July 1st, 1883, is- sued for the purpose of refunding bonds theretofore issued by the city to the New Orleans and Ohio Railroad company. Whereasl, heretofore, and on the first day of July, 1883, pursuant to city ordinance duly and regularly adopted on the t6th day of April, 1883, city bonds in the amount of $45,000, hearing interest at the rate of six per centum, were legally issued for the purpose of funding or paying off forty-five I;onds of one thousand dollars each, falling due on said first day of July, r883, theretofore issued to the New Orleans and Ohio Railway company, and Whereas, in and by said ordinance of April t6, 1883, and by the terms of said bonds, the right was reserved to the ,'ty to pay off any or all of said bonds after the expiration Ili fifteen years—their date—t4lat is to say, at any time on or after the 1st day of July, 1898, by giving notice of intention I n J i 1 ' A V , i REVISED ORDINANCES OF PADU CAH. 18? Refunding Bonds. to redeem same in some newspaper published in Paducah, Kentucky, and Whereas, the right of redemption has accrued by lapse of time, and it is deemed advantageous to renew said bonds at a lower rate of interest, to-wit, at the rate of four and one- quarter per centum per annum. Now, therefore„ pursuant to said power of redemption, and in the exercise thereof, Be it ordained by the common council of the city of Pa- ducah, Kentucky, as follows: Sec. r. That the city bonds in the amount of $45,000, r! ated July ist, 1883, iss;ied under ordinance of April 16, 1883, for the purpose of paying off $45,000 of city bonds thereto- fore issued to th-- New Orleans and Ohio Railway company, / j be redeemed and paid by the city on the 25th day of August, 0%8, at the office of the city treasurer in said city of Paducah, McCracken county, Kentucky. Sec. 2. That notice of redemption of said bonds be given by publication thereof in Register, a newspaper pub- lished in the city of Paducah, Kentucky, by publication for at x least thirty days prior to said 25th day of August, 1898. That said notice be published in the following form: Notice of Redemption of City of Paducah Bonds. Notice is hereby given that the total issue of city of Pa- ducah bonds, amounting to the sum of $45,000, dated July Ist, 1883, and issued under city ordinance of April 16th, 1883, which bear interest at the rate. of Ax per cent per annum, will be redeemed and paid on the 25th day of August, 1898, on presentation of said bonds, and all un-matured interest cou- pons, at the office of the treasurer of the city of Paducah, Mc- Cracken county, Kentucky, on said day. If the above-de- _ scribed bonds are not presented for payment at the time and place herein fixed within thirty days from the publication of this notice, then the interest on said bonds shall cease and terminate. Dated 21st day of July, 18o8. ' By order of the common council. W. H. PATTERSON, Clerk. 1 JAS. M. LANG, Mayor. 1188 REVISED ORDINANCES OF PADUCAH. Refunding Bonds. Sec. 3• The provision of all ordinances inconsistent here- with are hereby repealed, and this ordinance shall take effect immediately upon its passage and approval. Passed the loth day of July, x898. W. H. PATTERSON, C. C. P. Approved the 21st day of July, 1898. JAS. M. LANG, Mayor. Refunding Bonds. An ordinance to authorize the issue of bonds by the city of Paducah, Kentucky, in the aggregate amount of $45,0000, for the purpose of renewing certain city bonds heretofore is- sued on the 1sr of July, 1883. Whereas, heretofore, and on. the 1st day of July, 1883, pursuant to the city ordinance duly and regularly adopted on the 16th day of April, 1883, city bonds in the amount of $45,000, bearing interest at the rate of 6 per cent per an- num, were Legally issued for the purpose of funding or paying off forty-five bonds of $1,000.00 each, falling due on said 1st day of July, 1883, theretofore issued to the New Or- leans and Ohio Railroad Company, and; whereas, in and by said ordinance of April 16th, 1883, and by the terms of said bonds the right was reserved to the city to pay off any or all of said bonds after expiration of fifteen years from their date, that is to say, at any time on or after the tst day Of July, 1898, by giving notice of intention to redeem in some newspaper published in Paducah for at least thirty daysy and, whereas, said bonds of July 1st, 1883, are the present valid outstanding bonds of the ciay, which it is deemed advantageous to renew at a lower rate of interest, to -wit: Ar the rate of four and one-quarter pet'cenrum per atmum, and, whereas, in the exercise of said power of renewal notice of intention to redeem the entire issue of the aforesaid bonds on the 25th day of August, 1898, has been ordered to be given by publication as provided by law; 4 4 0