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1188 - REVISED ORDINANCF,S OF PADUCAH.
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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with are hereby repealed, and this ordinance shall take effect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 20th day of July, 1898,
W. H. PATTERSON, C. C. P.
Approved the 21st day of July, 1898,
JAS. M. LANG, Mayor.
,
Refunding Bonds.
An ordinance to aurhorize 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 1st of July, 1883,
Whereas, heretofore, and on. the 1st day of Jury, 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 regally 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 1st 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 city, which it is deemed
advantageous to renew at a lower rate of interest, to -wit: At
the rate of four and one-quarter pet'cenrum per annum, 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;
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REVISED ORDINANiCES OF PADUCAIL
Refunding Bonds..
Now, therefore, for the purpose of providing funds for
the Qayment of the aforesaid city bonds of July 1st, 1883, is-
sued to refund the bonds theretofore issued to the New Or-
leans and Ohio Railroad company.
Be it ordained by the common council of the city of Pa-
ducah, Kentucky, pursuant to section 3284, chapter 89, of the
Revised Statutes of Kentucky, as follows:
Sec. 1. That city bonds be issued in the amount of $45,
000, bearing interest at the rate of four and one-quarter per
centum per annum, payable semi-annually; said bonds to be
i!r dated when issued; to be coupon form, in the denomination of
$1,000 each, principal and interest to be payable at the office
of the United States Mortgage and Trust company, in the
city of New York, and that all of said bonds sliall mature
thirty years from their date; that said bonds shall be signed
on behalf of the city by the mayor, under the corporate seal
of the city, and attested by the city clerk. That the coupons
annexed to the said bonds shall be signed by the city clerk;
provided, however,,the fac simile of the signature of said
clerk may be printed or lithographed in said coupons in lieu
of manual signature.
Sec, 2. That 'said bonds shall be issued in the following
form :
No. , ..... United States of America. $1,000.'
State of Kentucky. City of Paducah.
Renewal Bond.
Know all men by these presents, that the city of Padn-
cah, county of McCracken, in the stat-- of Kentucky, a munici-
pal corporation duly ere ated, drganized and e�ist:`ng under and
by virtue of the laws of said state, hereby acknowledges it-
self indebted, and promises to pay to bearer the sum of
$1,000 in lawful money of the United States of America, on
the first day of August, 1928, at the office of the United
States Mortgage and Trust company in the city of New York.
borough of Manhatttan, with interest thereon at the rate of
four and one-quarter per centum per annum, payable semi-
annually at the office of the said,United States Mortgage and
Trust company, on, the 1st days of February and August in
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190 REVISED ORbINAKC) S OF PADUCAH:
'Refunding. Bonds. 1
each and every year on surrender of the annexed coupons as
they may severally become 'due. This bond is oneof
a se-
ries of bonds numbered from one to forty-five; both inclusive,
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all of even date herewith and of like tenor and amount, issued
by the city 'Paducah,
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of ir renewal of certain outstanding val-
id bonds in the amount of $45,000, which bear interest at the
b,
rate of. six per cent per am mm, issued by the said city on the
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rsr day of July, 1883. These bonds are issued under,
pursuant
to and in full compliance with section z .
3284, chapter Sq, of the
Revised Statutes of Kentucky. IC is hereby ctrtiGed and're-
cited that said bonds are issued and all proceedings relating
thereto have been had in.sttict compliance
with and conform-
ity to said Statutes and the laws and Constitution
of the
State of Kentucky. And that the total indebtedness of said
city, including this issuance of bonds is not in excess of any
constitutional or statutory limit of indebtedness and that
prior to the issuance of this bond and other bonds of this
issue, provisions were• duly made as required by law and
said Constitution
for the. collection of an annual tax suf-
ficient to pay the interest on said bonds
and. to create a
sinking fund for the payment of the principal thereof,
within 3o years from the time of their issuance for the
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payment of said bonds and coupons, according to the tenor -
thereof, the full faith and credit
of the City of Paducah is _
hereby iOrevocably pledged.
In witness whereof the said City of Paducah has
caused -
this bond to be signed by its Mayor, under its
corporate
seal, attested by its City Clerk, and the coupons hereto
`annexed
to be executed by the lithographed facsimile sig-
nature of said Clerk _this first day of August, one thou-
sand eight hundred and ninety-eight. `
Mayor of the City of Paducah, Kentucky.
Attest: W. 14. PATTERSON,
'-Clerk of the City of Paducah, Ky.
No., , . , , , Form of Coupon, $z1.7s. •
City of Paducah promises to pay to bearer at the of-
fice of the United States
Mortgage and Trust Company in
the city of New York, Borough of Manhattan,•
on the....
day of......, the sum of twenty-one ar"d twenty-five one -
hundredths dollars, being six
months interest then due on
its 'renewal bond No ...... dated 1888.
City Clerk. ..
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' REVISED ORDINANCES OF PADUCAH. 191
Refunding Bonds.
Sec. 3. The ,Mayor and City Clerk are hereby author-
ized and directed to procure said bonds to be lithographed
. , or engraved and to execute the same under the corporate
seal of the City of Paducah, and to deliver the same when
executed, or to cause the same to be delivered in the man-
ner hereinafter provided '
Sec. 4. In , order to provide for the payment of the in
terest on said bonds an annual taxof $1,912.50 is hereby
levied and assessed on all the taxable property of the City
of Paducah, subject to taxation, which tax. is hereby direct-
ed to be collected annually from year to year until the
payment of the principal of said bnds, and in order to pro- .
vide for the payment of the principal of said bonds at ma-
turity a sinking fund is hereby created to be provdded for by a 1
further annual tax Of $171 for the period of twenty years
next ensuing and then for the ten years next thereafter a
further annual tax $353.25 be levied by the Common
Council of the City of Paducah upon the taxable property
of said city subject to taxation. All of the aforesaid taxes
are directed to be collected in the amounts aforesaid from
year to year respectively, which taxes are deemed to be
sufficient to pay the interest on said bonds, and the prin-
cipal thereof at the time of their maturity. Which taxes
when collected shall be applied to the payment of said in-
terest and principal and to no other purpose whatsoever, j
Provided however thatso much ofthe proceeds of such
taxes as shall not be required to pay the interest on said
bonds may be invested from time to time in such manner
' as may be provided by law.
Sec. 5, The Mayor of the City of Paducah is hereby
authorized to sell said bonds at a price not less than par,
and .accrued interest and to deliver the same or cause
same to be delivered at some bank in the City of New
York, to be designated by him as the agent of the City,
for the purpose of effecting such delivery and of receiv-
ing the proceeds thereof.
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192 REVISED ORDINANCES OF PADUCAH.
Refunding Bonds. -
Sec. 6. The proceeds of the sale of said bonds shall
be deposited in the City National Bank of Paducah, Ky.
as a special fund for the payment of the bonds renewed
and said proceeds shall be applied exclusively to the pay-
ment of said renewed bonds.
Sec. 7. The provision of all ordinances inconsistent
herewith are hereby repealed and this ordinance shall
take effect immediately upon its passage and approval.
Passed the 29th day of July, 1898.
W. H. PATTERSON, C. C. P.
Approved the lsr day of July, r398.
JAS. 'M. LANG, Mayor.
An ordinance authorizing and directing the issuance
of refunding bonds of the city of Paducah; Kentucky, in
renewal of certain outstanding bonds.
-Be it ordained by the Common Council of the city of
Paducah, as follows:
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Whereas the city of Paducah has now outstanding cer-
tain bonds to the amount of sixty-six thousand ($66,000)
dollars, issued under the date of Julry 1st, i88o, under and
pursuant to an act entitled "An act to amend the revised
charter of the city of Paducah." Approved April 8th,
E 1880. Said bonds bearing interest at the rate of six per
cent per annum, payable semi-annually, and becoming ab-
solutely due and payable twenty years from their date, but
being on their face subject to the right of the city to re-
deem and pay the same at any time after ten years from `
ti:eir date. And
Whereas, it is deemed advantageous fot'said
city to re-
fund said bonds at a lower rate of interest and issue new
. bunds in renewal thereof, and to this end said city has
mused a notice to be published pursuant to, the provisions
' REVISED ORDINANCES OF PADUCAPL 1!q�
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Refunding Bonds. 1
of said, act above referred'to notifying the holders of said 1
bonds to present the same for payment.
Now, therefore, be it ordained by ,the Common Coua-
cil of the city of 'Paducah. Kentucky:
t Section r. Negotiable coupon bonds of the city of Pa-
ducah, Ky., are herebyauthorized and directed to he issued
to the amount of $66,000, for the purpose of refunding
bonds to said amount hereinbefore described, said refund-
ing'bonds to bear interesf at the rate of four and one-half
(4%)' per cent per annum; payabbe semi-annually to be
evidenced by coupons attached thereto; said bonds to bear
date of July ist, 1996, to be of the denomination of one
thousand ($t,000) dollars each and to become due and pay-
able thirty years from the date thereof, being payable
principal and interest at the Mechanic's National Bank is
the city of New York state of New York. Said bonds shall
r be signed by the Mayor of the city of Paducah and the
seal of said city affixed thereto, attested by the Gity Clerk
and the coupons therdto annexed shall be signed by the
aCity Clerk, provided however, the fac-simile of the signs-
ture of said City Clerk may be printed or ligthographed on
said coupons in lieu of manual signature.
Sec. 2. Said bonds shall be substantially in the follow-
ing form:
United States of America,
State of Kentucky. City of Paducah Refunding Bond.
No .............
The city of Paducah, state of Kentucky, acknowhedgee
itself to be indebted and for value received promises to
pay to.......................or bearer the sum of One
Thousand ($r,000) dollars, on the first day of July, one
thousand nine hundred and twenty-six, at the Mechanic's
National Bank, in the city of New York, state of New
/ York, with interest thereon at the rate of four and one.
half (q%) per cent per annum, payable semi-annually at
said bank on the first days of January and July, in each ant;
1% REVISED ORDINANCES'OF PADUCAH.
Refunding Bonds. ,
every year, until the payment of said principal sum on pre-
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sentation and'surrender of the annexed coupons as they
severally become due.
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This bond is ane of a series of bonds issued in renew-
al of ,bonds of the city of Paducah to a like amount and
aggregating the 'sum of Sixty-six thousand ($66,000) dol-
Lars, issued by said city in July, t88o, and are issued under'
. and pursuant to the authority conferred on cities of the
third class by charter 89 article 14, of the revised statutes
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of Kentucky.
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It is hereby certified and recited that said bonds are
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issued and all proceedings relating thereto have . been had
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in strict compliance with and conformity to said statutes-and
the laws and constitution `of the state of Kentucky, and
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that the total indebtedness of said city, including this-is-
suance of bonds, is not in excess of any constitutional or stat-
f
utory limit of indebtedness, and 'thrt prior to the issuance
of this bond and other bonds of this issue, provision. was
My made
as required by law and constitution for the col-
lection of an annual tax- sufficient .to pay the interest o
said bonds and to create a sinking fund for the payment off
.� the principal thereof within thin the time of
their issuance. For the payment of said bonds and coupons
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according to the tenor thereof the full faith credit of
.and
the said city of Paducah is hereby irrevocably pledged.
In witness whereof the said city of Paduc hhas •
aus- .
ed this bond 'to be signed by its Mayor under its corporate -
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seal attested by its city clerk acrd the coupons hereto annex-
ed to be executed by the signature of said clerk this first
. t:ay of July A. D., 1896.
Attest: ..... IMayor
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... .....................City Clerk.
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(Coupcn.)
.............
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The city of Paduc'th, Kentucky, promises to
,.ay
1 Parer at the Mechanic's National Bank, in the city of New.
York, on the first day of (January or July), t8...., tine sum
ui twenty-two dollars and fifty cents ($22.50), being six
,nrhs interest due that day on , its Refunding Bond
?Cumber
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...4..... dated July tat, 1896.
..... ............ ......... Clerk Clcrk.
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REVISED ORDINANCES OF PADUCAH. t9S
Refunding Bonds. _
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See. 3. The Mayor and the City Clerk are hereby au- .
thorized and directed to procure said bonds to be litho-
graphed or engraved, and execute the same under the cor-
porate seal of the city of Paducah and to deliver the same
when executed or cause the same to be delivered in the
manner hereinafter provided.
Sec. 4• In order to provide for the payment of the
interest on said bonds an annual tax of twenty-nine hun-
dred and seventy ($2970) dollars is hereby levied and as-
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sessed on all the .taxable property of the city of Paducah
subject to 'taxation, which tax is directed to be collected
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annually from year to year until the payment of the prin-
cipal of said bonds and in order to provide for the paymant
of the principal of said bonds at maturity.
A further annual tax of three hundred and thirty dol-
hrs for the period of twenty-five years next ensuing, and
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then for the five years- next thereafter a further annual tax
of eleven thousand five hundred and fifty dollars be levied
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by the Common Council of the city of Paducah upon the
taxable property of said. city subject to taxation to create
a sinking fund to provide for and for the purpose of pay-
ing the 'principal of said bonds at their maturity all of the
aforesaid taxes are directed to be collected in amounts -.
assessed to be sufficient to pay the interest on said bonds~ and
aforesaid .from year to year respectively, which taxes are
assessed to be sufficient to pay interest on said bonds, and•
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the principal thereof at the time of their maturity, and
which taxes, when collected, shall be applied to the pay-
ment of said interest and principal and to no other pur-
pose whatever, provided, however, that so much of the pro-
ceeds of said taxes as shall not be required to pay the in-
terest on said bonds may be invested from time to time
in such manner as may be provided by law or the ordi
nance of the city not inconsistent therewith.
Sec. 5. The mayor of the city of Paducah is hereby
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authorized to sell said bonds at a price not less than par
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Iffii' 9 M' i. �I Yl ] .f • ••^. W, wEv}t�hy!(v' Yom'/I?/ +_ . 'j
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REVISED ORDINANCES OF PADUCAH.
Refunding Bonds. People'f Independent Telephone Franchise.
and accrued interest and to deliver the same or cause the
same to be delivered at, some bank in the city of New
York, to be designated by the Mayor, as the agent of the
city, for the purpose of effecting such delivery and receiv-
ing the proceeds thereof for and on behalf of the city of
Paducah. And said proceeds shall be applied to the pay-
ment of the indebtedness proposed to be refunded herein be-
fore referred to, provided, however, that he. may exchange
said bonds at not less than par and accrued interest for a
like amount of the old bonds hereinbefore referred to at
par and accrued interest.
Sec. 6. The provisions of all ordinances inconsistent
herewith are hereby repealed and this ordinance shall take
effect immediately upon its passage and approval.
Passed the loth day of June, x896.
Approved the 22nd day of June, x896. 1
Adopted June 20th, 1896..
ARTHUR COLE, C. C.. P.
Approved June 221td, 1896.
D. A. YEISER, Mayor.
Sale People's Independent Telephone Franchise•
An ordinance to provide for the sale of the franeltise,
or privilege to construct, establish, maintain and operate a
telephone system and central (commonly called exchange)
in the city of Paducah.
Be it ordained by the Mayor and Common Council of
the city of Paducah, Ky.:
Section 1, That there shall be sold to the highest bid-
der, for cash, for a term of twenty years, franchise, or priv-
ilege, one or more, within the discretion of th• Mayor of
the said 'city of Paducah, Ky., to construct, establish.
taaintain and operate a telephone system, for public and
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