HomeMy WebLinkAboutOrdinances Book 8, Page 311, No Resolution Number.z
No. 311.
A RE9JLTUION AUTHORIZING AND DIRECTING THE CITY TREASURER
AND MAYOR OF THE CITY OF PADUCAH, KENTUCKY, TO BORR0W THE SUT,1 OF
$75,000.00 IN SUCH AMOUNTS AS MAY BE REgUIHED, FROM ANY BANK OR BAIIK:
IN SAID CITY, AND TO EXECUTE NOTE OR NOTES TIiEREFOR IN BEHALF OF SAII
CITY.
BE IT RESOLVED BY TIIE GENERAL COUNCIL OF THE CITY OF
II PADUCAH, KENTUCKY:
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SECTION 1.
That the 'jity Treasurer and Mayor of said City are hereby)
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authorized and directed to borrow on behalf, and for the use and
benefit of the City of Paducah, Ky., from any bank or banks in said
City, the total sum of $75,000.00 in such amounts and for such time
not to exceed four months as may be required to meet the needs of
said City, such loan or loans to bear interest not in excess of 6%
per annum, which sum shall be placed to the credit of the General
Fund of said City.
SECTION 2.
Said Treasurer and Mayor are further authorized to execute
note or notes therefor, and sign the name of said City by said
Treasurer and Mayor respectively, payable on or before July lst, 1925,
with interest as aforesaid; and for the payment of said note or
notes there is hereby pledged all revenue to be collected by said Cit I
from taxes for the Fiscal half of year ending June the 30th, 1925.
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SECTION 3.
This resolution shall be effective after its passage, _
approval and publication.
MENT
ADOPTED At, .x._192 �
City Clerk
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ADOPTED
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