HomeMy WebLinkAboutOrdinances Book 10, Page 1198, No Ordinance NumberAI'T ORDINA'.CE PROVIDING FOR THE EXECUTION OF A ALIT-CIA.1"-,:
D ED BY 'Lir•. CITY 01' PADUCATT, Kc:NRTCKY TY' THE FADUCAII AIRPORT
COn'OaATION TO THE 50 ACRE 'MRACT OF LAND LOCATED ON ME 07LEI.:AN
ROAD NEAR PnDUCAH, KENTUCKY, K" 0:7V AS TT. -.Tr OLD AIRPORT PROPERTY,
AND AUTHORIZING THE T,.AYOR A:dD NE CITE CLERK I10 EXECUTE FOR
AND ON BEHALF OF THE CITY OF PADUCAH A QUIT -CLAN: DEED TO.
SAID PROPERTY
INFEREAS, Under tae provisions of a Contract, Lease and
Option, dated October 11, 1941, the Paducah 0.irport Corporation
leased the hereinafter described reale s to to to the City of
Paducah and the County of McCracken for a period of one (1)
year in consideration of the payment of the total rental of
Ten I'housand (';10,00. 0) -collars, the sum of Five Thousand
(1'5,000.00) Lollars to be paid by the City of Paducah, the sum
of Five Thousand (';5,OJJ.00) ijollars to be paid by the County
of I.cCracken, and the instrument ufder -which said propertyr;ras
rented containing a provision for renewal of said lease from
year to year for a period of five (5) years, the renewal to
become effective upon the payment of the a.anual rental amounting
to len Tlousand (;1J,000.00) Dollars; and,
wHERLAS, there was included in said contract, lease
and option a provision under which the raducah Airport Corporation
became obligated to convey said property to the City of Paaucah
on November 15, 1946, after said city had paid the total rents
amountin.to 9,wenty-five rnousand (?';25,000.00) Dollars; and,
1,1MEREAS, the Paducah Airport Corporation, at the request
of the City of Paducah, Kentucky, has heretofore soli and conveyed
the hereinafter described real estate to 'ary N. Howell, but
through mistake and overs117ht the right which the City of
Paducah acquired for repurchasin- said property under the afore-
said contract, lease and option was not relinquished at the
time of the delivery of a deed to the said nary I. Howell.
N0,7 THEREFORE, BE IT ORDAINED B THh BOARD OF
CO•::2ISSIONERS OF TEL CIM OF PADUCHH.
SECTION I.
Tnat the City of Paaucah, Kentucky execute and deliver
to the Paducah Airport Corporation a suit -Claim deed releasing
said Corporation from its obli3ation to perform the provisions
of the aforesaid contract by conveying said property to the
City of ?aducah after all of the lease payments due thereunder
have been made, a.,d that said Cit., release, remise and quitclaim
unto the Paducah Airport Corporation, its successors and assi;ns
all riht, title and interest in and to the fifty (5)) acre
tract of land located on the Coleman Road, formerly known as
the Old Airport property and th3 Mayor and the City ^,lerk are
hereby authorized to execute for and on behalf of the ^ity of
Paducah a quit-claim deed for the pur>ose of carryin this
ordinance into effect-.
SECTION 11
This ordinance shall be in full force and effect from
and after its adoption.
i
Mayor Pro
Commissio
Passed by the Loard of Commissioners, August 7, 1945
Recorded by hudy Stewart, City Clerk, Aagust 7, 1945,