HomeMy WebLinkAboutOrdinances Book 7, Page 93, No Resolution NumberNo. `? -7 1
Ordinance No.
A RESOLUTION DIRECTING _111D i1UTHORIZI11G TILE✓ 1._liYOR OF THE
CITY OF PADUCAH TO E=,CUTE NOTES OF THE CITY OF 21:DUCi-.H FOR THE SUI-.
OF ONE HUNDRED THOUS: -IID DOLL.RS, ril,D PLEDGIIIG 111TICIP.-.TED REVENUE OF
THE CITY FOR THE LAST H,d,F OF 1915 TO Pi'Y Si IE.
WHEREAS, the City of Paducah anticipates that it will need
to borrow the sum of One Hundred Thousand (:;100,000.00) Dollars to
pay the current expenses of said City for the last half of 1915, and,
FdHERE-S, the revenue of said City will not be available
within sufficient time to meet said obligations,
BE IT RESOLVED BY THE BOARD OF COI,LIISSIONERS OF THE
CITY OF PADUC.rH, KENTUCKY :-
Section 1. That the Miayor is hereby directed and authorized to
execute revenue notes for and in behalf of the City of Paducah, dated
July 10, 1915, due and payable at the =National City Bank of New.York,
on January 10, 1916, in the aggregate sum of One Hundred Thousand
(5..100,000.00) Dollars, with interest thereon at the rate of six per
cent (6u) per annwn from maturity until paid, and to secure the
payment of which - when so executed by the Mayor - the said City of
_Paducah hereby pledges a sufficient portion of the anticipated
revenue of the City of Paducah for the last half of 1915 to pay said
notes, together with any interest and costs attached thereto.
Section 2. This Resolution shall take effect from and after its
passage.
PASSED BY THE BOARD OF C012TISSIONERS JULY 6, 1915.
RECORDED BY 1,110RICE I.1cINTYRE, CITY CLERK, JULY 7, 1915.
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