HomeMy WebLinkAboutOrdinances Book 9, Page 349, No Ordinance NumberPage 349
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AN OFDINANCE AUTHORIZING AND EMPO!'IERING TIT CITY OF PADUCAH
TO BORRO1,7 UPOTI THT CREDIT AND RESOURCES OF THE CITY THE SUM OF THREE
HUNI,RED TPN & 12/100 ($310.12) DOLLARS.
';;RiERF_AS, in two certain actions in McCracken Circuit Court
against the City of Paducah in favor of George 1.7. Katterjohn & Sori, one
against Dessie Smith and the City of Paducah, and another against A!ary
Vogt and the City of Paducah, there Gere rendered judgments against the
City.of Paducah as follows, to -wit: In the case of Dessie Smith, One
Hundred Seventy-one & 41/100 (ti�".171.41) Dollars to George '.'I.Katterjohn &
Son, and Twenty-three & 50/100 (;.23.50) Dollars to Yancy & Johnson,
making a total of One T'undred Ninety-four & 91/100 (}194.91) Dollars;
and in the case of Mary Vogt, One Hundred Fifteen & 21/100 ($115.21)
Dollars, and there being no funds appropriated or available out of the
current income and taxes of the City to pay the same during the present
year, said tax bills ::hich were the basis of said actions having been
incurred in a previous year, and it being further provided by Section 3130
Kentucky Statutes, that in.such contingency an emergency exists and the
City may torrow upon the credit and resources of the City such sums as
may be necessary to satisfy said judgments, and it appearing from said
judgments that it is necess=ry to immediately provide the sum of Three
Hundred Ten & 12/100 ($310.12) Dollars with %!.,hick to pay said judgments,
PIO:", THFR" FORE,
Br IT ORDP,INF.D BY TAT' FOARr 01' 00"�"I` FION"RS OF THE
CITY OF PADUCAH, KFNTTTCKY:
SECTION 1.
That the City of Paducah is hereiy authorized and empowered
to borrow from any benk or trust company in said City of Paducah the
sum of Three IIundred Ten & 12/100 ($310.12) Dollars for the purpose of
satisfying the judgments and interest in the cases of George l11. Katter-
jchn & Son vs Dessie Smith, One Hundred Seventy-one & 41/100 ($171.41)
Dollars to George 17. K^tterjohn E: Son, and Yancy & Johnson Twenty-three
& 50/100 (.$23.50) Dollars, making a total of One Hundred 'linty -four
& 91/100 ($194.91) Dollars, and in the case of George W. Katterbohn & Son
vs i'ary Vogt, One Hundred Fifteen & 21/100 ($115.21) Dollars, and the
credit and resources of the city are hereby pledged as security for such
loan or loans or any renewals thereof, and the Mayor and Cormniss•ioner of
Public Finance are authorized to execute such note or notes as mny be
necessary to effect such lo,:n and any renewal thereof upon such time and
terms ns may be necessary, but said original note or notes sha11 mature
on or before the first day of January, 1930.
SECRION 2.
On account of the fact that it is necessary to raise the
money at once in order to preserve and protect the cre0it and resources
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Page 350
pf the City of Paducah, an emergency is hereby declared to exist and
his ordinance shall take effect and be in force from and after its
passage.
Signed
Mayor ��—
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Passed by the hoard of Co-Tissioners June 24th, 1929 --
Recorded by Nunt Crossland, Clerk June 25th, 1929
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