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HomeMy WebLinkAboutOrdinances Book 7, Page 478, No Ordinance NumberNo.. it 'r Ordinance AN ORDINANCE PROVIDING FOR AN -ELECTION BY THE QUALIFIED ELECTORS OF THE CITY OF PADUCAH, KENTUCKY TO BE HELD ON THE REGULAR ELECTION DAY, NOVEIZER 4th, 1919, IN THE CITY OF PADUCAH, hENTUCKY, TO DETERMINE THE QUESTION TTETHER THE CITY OF PADUCAH SHALL ISSUE AID SELL BONDS OF SAID CITY TO THE EXTENT OF TWO HUNDRED AND FIFTY THOUSAND (1250,000) DOLLARS, FOR THE PURPOSE OF CONSTRUCTING AND MAINTAINING SEWERS IN THAT PART OF THE CITY OF PADUCAH KNOWN AS LIECHANICSBURG, BOUNDED BY ISLAND CREEK ON THE NORTH, HILL STREET ON THE SOUTH, TENNESSEE RIVER ON THE EAST, AND THE CITY LIEITS ON THE WEST, AND ALSO IN THAT PART OF THE CITY BOUNDED BY JONES STREET ON THE NORTH, ISLAND CREEK ON THE SOUTH, TENNESSEE RIVER ON THE EAST, AND THE CITY LL:RITS ON THE [TEST, EXCEPTING OUT OF SAID TERRITORY THAT PORTION SOUTH OF JONES STREET EMBRACED IN AND N0W TAKER CARE OF BY SEVER DISTRICTS ONE ARID TWO, AND ALSO IN SEWER DISTRICT NUMBER THREE, AS SHOWN ON THE PLAT FILED IN THE OFFICE OF THE OD24ISSIONER OF PUBLIC WORKS OF THE CITY OF PADUCAH, AND TO PROVIDE FOR THE PAYMENT OF INTEREST OIQ SAID BONDS AND TO CREATE A SINKING FUND FOR THE PAYI:EUT OF SAID BONDS AT _ATURITY. BE IT ORDAINED BY THE BOARD OF CO-?IISSIONERS OF THE CITY OF PADUCAH, KENTUCKY: Section 1. That there is hereby called an election in the city of Paducah, Kentucky, to be held on the 4th day of November 1919, between the same hours and by the same election officers conducting the regular election of state, county and city officers for the year 1919, for the purpose of submitting to the qualified electors of the City of Paducah, Kentucky the question of the issual of two hundred and fifty thousand QP250,000)dollars of bonds of the City of Paducah, Kentucky, for the purpose of constructing trunk line sanitary sewers as follows: in that part of the city of Paducah known as Mechanicsburg, bounded by Island Creek on the North, Hill street on the south, Tennessee River on the east, and the city limits on the west, and in that part of the city bounded by Jones street on the north, Island Creek on the south, Tennessee River on the east, and the City limits on the west, excepting out of said territory that portion south of Jones street embraced in and now taken care of by sewer districts one and two, and also in Sewer District Number three as shown on the plat filed in the office of the Commissioner of Public 1,7orks. Section 2. That the said bonds when so issued shall be payable to bearer in twenty-five (25) years from the date thereof, at the City depository in the city of Paducah, Kentucky. Section 3. That the said bonds shall draw interest at the rate of four and . one-half per centum Nj%) per annum, said interest to be due and payable semi-annually at the City depository in the City of Paducah, Kentucky. Section 4. That the City of Paducah, Kentucky shall levy a tax upon all of the assessable property within the city of Paducah, Kentucky each year during No._. ;r9_ Ordinance No._ the life of said bonds suffic-ient to raise the sum of not exceeding — eleven thousand two hundred and fifty (5$11,250) dollars, to pay the interest on said bonds during the life thereof; said amount to be adjusted each year to meet said interest. Section 5. That the City of Paducah, Kentucky shall levy a tax upon all of the assessable property in the city of Paducah each and every year dux ing the life of said bonds, sufficient to raise the sum of not exceeding ten thousand (5-10,000) dollars each year, to create a sinking fund for the payment of said bonds at the maturity thereof. Section 6. That the said bonds when so issued shall be in the name of the City o£ Paducah, Kentucky and shall be in denominations of five hundred (5-500) dollars each, and for the payment of which, at the maturity thereof, the City of Paducah pledges its good faith and credit. Section 7. That said bonds shall not be issued unless two-thirds of all the qualified electors of the said city voting on said question shall have voted in favor of incurring such indebtedness and the issual and sale of m said bonds as herein provided, and the result of said'election shall be certified to according to jai Section 8. L. certified copy of this ordinance shall be filed with the County Court Clerk of T,,cCrac ken County not less than thirty days before November 4th, 1919, and a copy of this ordinance shall be published in the official newspaper of the City of Paducah for at least two weeks just -preceding the election to be held on November 4th, 1919. Section 9. That the Clerk will have printed upon the ballots to be delivered to the qualified electors in each precinct in the city of Paducah, Kentucky, at the November election, November 4th, 1919, the following question; '_ARE YOU IN FAVOR OF THE CITY OF PADUCAH ISSUING AND SELLING TWO HUNDRED AND FIFTY THOUSAND DOLLARS (y-250,000) OF BONDS OF THE CITY OF PADUCAH, FOR THE PURPOSE OF CONSTRUCTING TRUNK LINE SANITARY SEdERS IN THAT PART OF THE CITY OF PADUCAH KNO';JN AS LIECHA.NICSBURG, BOUNDED BY ISLAND CREEK Oil THE NORTH, PSILL STREET ON THE SOUTH, TENNESSEE RIVER ON THE EAST, Alm THE CITY LIT;IITS ON THE WEST, AND IN THAT PART OF THE CITY BOUNDED BY JONES STREET ON THE NORTH, ISLAND CREK ON TEE SOUTH, TENNESSEE RIVER ON THE EAST, AILD THE CITY LIbIITS ON THE WEST,kCEPTING OUT OF SAID TERRITORY THAT PORTION SOUTH OF JONES STREET E12RACED IPI APD NOW TAI�IQ CARE OF BY SEWER DISTRICTS ONE AND TWO, AND ALSO IN SEWER DISTRICT NIL,!BER THREE AS SHOWN ON THE . PLAT FILED IN THE OFFICE OF THE COTZ,IISSIONER OF PUBLIC viORKS OF THE CITY OF PADUCAH, PAYABLE IN TWENTY-FIVE YEARS FROM TEE DATE THEREOF AND BILARIIIG FOUR AND ONE-HALF PER CENTUT•:I INTERr;ST PER ANNIE,% AND FOR THE PAYi:.MNT OF WHICH INTEREST TEE SMI OP NOT EXCEEDING ELEVEN THOUSAND 1970 HUNDRED AND FIFTY (,;;11,250) 111111111111111M MGzti No.-YP4 Ordinance No. ___ ___ . __ - DOLLARS WILL BE RAISED BY GEISERAL TAXATION OF ALL OF THE TAXABLE PROPERTY IN THE CITY OF PADUCAH'EACH YEAR, SAID AMOUNT TO BE ADJUSTED EACH YEAR TO IEET SAID INTEREST, AND FOR THE CREATION OF A SINXING I'UID TO RETIRE SAID BONDS AT THE 1:4ATURITY THEREOF, A SUM NOT TO EXCEED TEN THOUSAND DOLLARS ($10,000) SHALL BE RAISED BY GENERAL TAXATION OF ALL OF THE PROPERTY IN THE, CITY OF PADUCAH EACH YEAR DURING THE LIFE OF SAID BONDS?'' Section 10. This ordinance shall take effect from and after its passage and record. Passed by the Board of Commissioners September 29, 1919. Recorded. by Henry Bailey, City Clerk Sept. 30, 1919. Published in News -Democrat, official newspaper, U._'� WV PX d8-� "Ia 3/ --ajr =.Ls PFvOVED KA -1a 3lZ Official returns of vote on above bond issue at election held on Nov. 4, 1919 : Yes, 12?0; No, 581. Carried.