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HomeMy WebLinkAboutOrdinances Book 10, Page 1226, No Ordinance Number1226 AN (R DINANCE ORDERING AN ELECTION BY THE QUALIFIED VOTERS OF THE CITY OF PADUCAH, EENTJCKY, TO BE HELD OM THE; REGULAR ELECTIW DAY, NOVEMBER 6th, 1945, IN THE CITY OF PADUCAH, KENTUCKY, 'T0, DETERMINE THE QUESTION :1HETHER THE CITY OF PADUCAH SHALL ISSUE AND SELL BONDS OF SAID CITY TO THE EXTENT OF NOT EXCEEDING ONE HUNDRED THOUSAND ($100,000.00) DOLLARS. BEARING INTEREST AT THE RATE OF ONE & THREE-FOURTHS (1-3/4a) PERCENT PiiR ANNUN,, PAYABLE SET,:I-ANNLA LY, FOR THE PURPOSE OF Pt(OVIDING FUNDS FOR THE ACQUISITION AND ESTABLI H- MENT OF A MUNICIPAL GARBAGE COLIECTION AND DISPOSAL SYSTEM IN SAID CITY, PURCHASING TRUCKS AND OPHER 1140TOR-OPERAT'—D EQUIP;DENT AND fiACHINERY NECESSARY FOR GARBAGE AND REFUSE COLIECTION AND DISPOSAL ACQUIRING BY LEASE, PURCHASE OR 01HERWISE, 'VITHIN THE CITY LIMITS OR ELSENHERE, THE. REAL ESTATE, RIGHTS OF WAY, INCINERATORS AND BUILDINGS REQUIRED TOR THE DISPOSAL THEREOF, AND REAL ESTATE, GARAGES OR OTHER HOUSING FACILITIES FOR THE STORAGE, MAINTENANCE AND REPAIR OF TRUCKS, MACHINERY AND EQUIPMENT, AND REAL ESTATE, OFFICES OR OTHER BUILDINGS FOR THE ADb..INISTRA TION OF SAID GARBAGE COLLECTION AND DISPOSAL SYSTEM, AND FOR ATTY 0•IHER PURPOSE INDIDENTAL TO AND NECESSARY FOR THE ACQUISITION? AND ESTABLISHt.iENT OF SAID SYSTEM; PRESCRIBING THE IERI.'S ANID CONDITIONS UPON ';IHICH SAID BONDS SHALL BE ISSUED AND SOLD; PROVIDING FOR THE 3LYMENT OF THE PRINCIPE AND INTEREST ON SAID BONDS, AND PROVIDING FOR THE Cr:"EATION OF A SINKING FUND FOR TfF— PAYMENT OF,SAID BONDS AS AND 7.HEN THEY MATURE; AND PROVIDING THAT 7dECOST OF MAINTAINING AND OFERATING SAID GARBAGE COLLECTION AND DISPOSAL SYSTF!,' SHALL BE PAID BY THE USERS_ THEREOF WHEREAS, in order to protect the health of the inhabitants of the City of Paducah, Kentucky, by providing an adequate method c collecting and disposing of deleterious articles of food, garbage and refuse, it is deemed advisable that the City of Paducah submit to the voters the question whether bonds shall be issued to provid� the funds necessary for the acquisition and establtfishment of a municipal garbage collection and disposal system; NON THEREFORE, BE IT ORDAINED BY THE BOARD OF COI:I?LKSSI OF THE CITY OF PADUCAH, KENTUCKY: SECTION 1. There is hereby called an election ih the City of Paducah, Kentucky, under and pursuant to the provisions of KRS 66.050 to be on the 6th day of November, 1945, between the hours and by the sam, election officers conducting the regular election for State, Count; held and City Officials for said year, for the purpose of submitting to the qualified voters of said City of Paducah, Kentucky, the question of the issuance of not exceeding One Hundred Thousand ($"100,000.00) Dollars of bonds of the City of Paducah for the purpose of providing funds for 1227 the acquisition and establishment of a mulicipal garbage collection and disposal system in said city, purchasing trucks and any Ether motor - operated equipment and machinery necesary for garbage and refuse collection and disposal, acquiring by lease, pfarchase or otherwise within the City of Paducah or elsewhere, the real estate, rl3hts of way, incinerators and buildin-s required for the disposal thereof, real estate, garages, buildings or other housing facilities for the storage, maintenance and repair of trucks, machinery and equipment, real estate, offices or other buildings for the administration of said garbage collection and disposal system, and for any other purpose incidental to and necessary for the acquisition and establishment of said system for the use, benefit and protection of the inhabitants of said city. Said bonds shall not be issued sold until exact plans and specifications for purchasing and estab- lishing said system have been approved by the Board of Commissioner and the cost thereof has been ascertained. SECTION 2. Said bonds in the aggregate principal amount of One Hundred Thousand (:'100,000.00) yollars, known as vunicipal Garbage Collection and disposal Bonds, shall bear interest from date of is: at the rate of One & Three-fourths (1-3/4) percent per annum, payable semi-annually, and be in the denomination of One Thousand (:1,000.00) Lollars each. whey shall be serial bonds and issued s that five (5) of said bonds amounting to rive 'Thousand ($5,000.00) Dollars shall mature after the first year, from the date thereof, f (5) of said bonds in the amount of rive Thousand ($,000.00) Dolls shall mature annually thereafter so that the whole of said issue shall be retired within twenty- (20) years, and the interest and principn shall be payable at the office of the City 'Treasurer in the City of Paducah. SECTION 3. T! -e City of Paducah, Kentucky, shall reserve the right to redeem and pay off said bonds on any interest or maturity date at 103 during the first three years, at 102 during the next three years, at 101 during the next three years, and at 100 thereafter in Inver numerical order. SECTION 4. During the life of said bonds the City of Paducah shall annually levy and collect a tax upon all taxable )roperty within City to raise or produce the sum which will pay the interest and reitire the bonds as and when they mature, and to create a sinking fund for) the payment of the principal within a period of not more than twenty (q0) 1228 years. Pte annual tax shall be levied and collected at the same as other taxes, and shall be in addition to all other taxes. The proceeds of said tax, when collected, shall be kept in the city t as a separate fund, to be inviolably appropriated to the principa and interest of said indebtedness. SECTION 5. The c ost of maintaining and operating said municipal garbage collection and disposal system shall be paid by the users thereof and the charges for services, the schedule of rates, the manner of operating said system, and the rules and regulations governing the users thereof shall be fixed and prescribed by ordinance. im e ry � SECTION 6. Said bonds shall not be issued unless two-thirds of the votes cast on the question are in favor of incurring said indebtedness and the issuance and sale of said bonds as herein provided, and dLe result of said election shall be certified according to law. SECTION 7. A certified copy of this ordinance shall be filed with the County C;:•urt Clerk of McCracken County, Kentucky, at least thirty (30) nays prior to the next regular election to be held on November 6ti, 1945, and this ordinance shall be advertised in the Sun -Democrat, the official newspaper of the City of Paducah, by publishing in said newspaper a certified copy thereof for at least two weeks next preceeding the election to be held on said date. SECTION S. The County Court Clerk of McCracken County, Kentucky, shall cause the question of incurring the aforesaid indebtedness nd issuing said bonds to be printed upon the ballots to be used in �each precinct of the City of Paducah, Kentucky, and he shall cause to ave printed upon each ballot to be delivered to the voters in each prPcinct of said city at said November election, 1945, the following questlion;- "ARE YOU IN FAVOR OF THE CITY OF PADUCAH ISSUING AND SELLIIiG NOT EXCEEDING ONE HUNDRED TdOUSAND (?y 100,000.00) DOLLARS IN BONDS OF THE CITY OF PADUCAH, SAID BONDS TO SEAR INTEREST AT THE RATE OF ONE & THREE-FOURTHS (1-3/41) PER CENT PER ANNULI, PAYABLE SEMI-ANNUALLY, FOR THE PURPOSE OF PROVING FUNDS FOR THE ACQUISITION AND ESTABLISHMENT OF A MUNICIPA� GARBAGE COLLECTION AND DISPOSAL SYSTEPG BY PURCHASING THE LIOTOR- OPERATED TRUCKS, MACHINERY, AND EQUIPMENT NECESSARY FOR THE 1229 COLLECTION AND DISPOSAL OF GARBAGE AND REFUSE, AC6UIRING BY LEASE, PURCHASE OR OTHLRINISE, WITHIN THE CITY LIMITS OR • ELSEWHERE, THE REAL ESTATE, RIGHTS OF WAY, INCINERATORS AND BUILDINGS REQUIRED FOR THE DISPOSAL THERGuF, AND REAL ESTATE, GARAGES OR OTHER HOUSING FACILITIES FOR THE STORAGE, MAINTENANCE AND REPAIR OF TRUCKS, MACHINERY AND PQUIPMENT, AND REAL ESTATE, OFFICES AND OTHER BUILDINGS FOR USE IN THE ADP-11NISTRA TION 0'r' SAID GARBAGE COLLECTION AND DISPOSAL SYSTEM., AND FOR ANY OTHER PURPOSE INCIDENT TO AND NECESSARY FOR THE ACQUISITION OF SAID SYSTEM: PROVIDING THAT ?i1tEN SAID BONDS AnE SO ISSUED TdLY SHALL BE SERIAL BONDS IN DENOMINATIONS OF ONE `iOUSAND(1r1,000.00) DOILARS EACH, PAYABLE '.7ITHIN A PERIOD OF 7:4EiITY (20) YEARS FRAM DATE THEREOF, FIVE (5) OF 'iHICH SHALL MATURE ANNUALLY DURING SAID YE'RIOD; PROVIDING THAT THE CITY I -TAY REDEEM AND PAY OFF SAID BONDS AT 103 DURING THE FIRST THREE YEARS FROM DATE OF ISSUE, AT 102 DURING THE NEXT THREE YEARS, AT 101 DURING THE NEXT 7HRSE YEARS, AND AT 100 THEREAFTER; PROVIDING FOR THE LEVY OF A TAX UPON ALL TAXABLE PiD PERTY '.9;I'THIN THE CITY OF PADUCAH AT A RAT SUFrFICIENT TO PRODUCE THE REQUIRED AMOUNT OF MONEY TO PAY SAID INTEREST AND TO RETIRE SAID BONDS A.S AND WHEN THEY MATURE, SAID TAX LEVY TO BE I4ADE EACH AND BVERYiYEAR DURING THE LIFE OF SAID BONDS; AND PROVIDING TEAT THE COST OF MAINTAINTING AZ OPERATING SAID SYSTEM SHALL BE PAID BY THE USERS THEREOF, THE CHARGES FOR THE SERVICES, THE MANNER OF OiERATING SAID SYSTEa"., AND THE RULES AND RE'GULA'TIONS GOVERNING THE USERS THEREOF TO BE FIXIaL) AND PRESCRIBED BY ORDINANCE". SECTION 9. By reason of the limited time within xhich the aforesaid question may legally be certified to the Clerk of McCracken County Court for printing on the ballot at the november, 1945 regular election, am emergency is hereby declared to exist and in order to preserve tlkx and protect the public health, welfare and safety of the citizens and taxpayers of the City of Paducah, this ordinance shall be in full force and effect from and after its adoption. Introduced, September 28th, 1945 Passed by the Board of Commissioners, October 5th, 1945 . Recorded by Rudy Stewart, City Clerk, October 5th, 1945.