HomeMy WebLinkAboutOrdinances Book 10, Page 1082, No Resolution NumberW
1082
A RE30LUTION AUTHORIZING TIIE I9AYOR TO INITIATE PROCEEDIIIGS
FOR ACQUIRING 13Y PURCHASE THE ELECTRIC UTILITY SYSTEM AND PROPER
OF TILE KENTUCKY UTILITIES COMPANY
BE I`_' RESOLVED BY THE BOARD OF COMMISSIONERS OF THE CITY
OF PADUCAH, KENTUCKY:
SECTION 1.
That the Mayor be and he is hereby authorized to give notice
to the Kentucky Utilities Company of the desire of the City of
Paducah to purchase said Company's electric system and properties
in the City of Paducah at a price to be agreed upon between the
parties, and to notify said Company that if a price shall not
be agreed upon within sixty (60) days after the receipt of said
notice, a Board of appraisers consisting of two (2) members will be
appointed, one by the Mayor with the approval of the Board of
Commissioners and the other by the Kentucky Utilities Company, such
appointments to be made within thirty (30) days after the e xpiratio
of said sixty (60) day period given the parties to agree upon the
value of said properties. The mayor is further authorized to notif
said Company that should the two members of said board of appraiser
so appointed by the City and the company, respectively, be unable
to agree upon a fair and reasonable price for said electric utiliti
system, a third member of said Board, to act as umpire, shall be
selected by them, and in the event said two appraisers cannot agree
upon the third member of said board, then upon application by eithe:
City or the Company, the then presiding Jidge of the United States
District Court for the Western District of Kentµcky shall name the
appraiser, and that the city shall expect full compliance with the
visions of the franchise under which said Board of Appraisers shall
make a survey of, appraise and submit to the City in writing its
valuation of said electric utility system, and also full compliance
with all applicable provisions of the statutes relating to the
acquisition of such properties by a citt of the second class.
SECTION 2.
This Itesolution shall be in full force and effect from and
after its adoption.
Passed by the Board of Commissioners, November 28th, 1944.
Recorded by Rudy Stewart, City Clerk, November 28th, 1944.
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