HomeMy WebLinkAboutOrdinances Book 8, Page 449, No Resolution Numbers
A RESOLUTION AUTHORIZING AND DIRECTING THE CITY TREASURER
AND MAYOR OF THE CITY OF P 1DUCAII, KENTUCKY, TO BORROW! TRE SUM OF
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$25,000.00 IN SUCH AMOUNTS AS MAY BE RE(ZUIRED, FROM ANY BANK OR BANKS
IN SAID CITY, AND TO EXECUTE NOTE OR NOTES THEREFOR IN 13EIIALF OF SAID
CITY.
BE IT RESOLVnD BY THE GENERAL COUNCIL OF THE CITY OF
P11DUCAH, KENTUCKY:
SECTION 1.
That the City Treasurer and Mayor of said City are hereby
authorized and directed to borrow on behalf, and for the use and
benefit of the City of Paducah, Kentucky, from any bank or banks in
said City, the total sum of $25,000.00 in such amounts and for such
timenotto exceed four months as may be required to meet the needs
of said City, such loan or loans to bear interest not in excess df
6% per annum, which sum shall be placed to the credit of the General
Fund of said City,
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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,1
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
City from taxes for the Fiscal half of year ending June the 30th, 1925.
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.~ CION 3.
This resolution shall be effective after its passage,
approval and publication.
CMAWMAN
Prcsrd�,r Bowra I Guncil—
P.cdd<nl Baard nj Fleerm�es,