HomeMy WebLinkAboutOrdinances Book 8, Page 455, No Resolution NumberIIOJI55 .
A RESOLUTION AUTHORIZING AND DIRECTING THE MiiYOR AND THE
CI'PY TREASURER OF THE CITY OF Pil WCAH, KENTUCKY, TO BORROIN AMOUNTS
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AGGREGATING TIIE SUid OF x;100,000.00, AS THE SAI;1E MAY BE REgUIRED TO
IMET THE NEEDS OF SAID CITY, FROM ANY BANK OR BANKS IPJ SAID CITY,
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AND TO EXECUTE NOTE OR NOTES THEREFOR ON BEIIALF OF SAID CITY.
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BE IT RESOLVED BY THE GENERAL COUNCIL OF THE CITY OF
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�! PADUCeH, KENTUCKY:
SECTION 1.
That the P.1ayor and City Treasurer of the City of Paducah
are hereby authorized and directed to borrow, for and on behalf of
said City, from any Bank or Banks therein, amounts necessary to meet
the needs of said City and aggregating approximately ?100,000.00,
such loan or loans to bear interest not in excess of 6% per annum,
and which shall be placed to the credit of said -City.
SECTION 2.
Said Mayor and City Treasurer are further authorized to
it
execute note or notes for said loans, and to sign the name of said
City by said Mayor and Treasurer respectively, payable on or before
Nobember 1st, 1925, with interest; and for the payment of said note
or notes there is hereby pledged all revenues to be collected by saic
City from taxes for the fiscal half year ending November lst, 1925.
SECTION 3.
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This resolution shall be effective from its passage,
approval and publication.
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