HomeMy WebLinkAboutOrdinances Book 10, Page 219, No Resolution NumberPago 219
A RESOLUTIONAUTHORIZING THE CITY 11"Ai1AGER TO SELL TO THE
HIGHEST BIDDER AT PUBLIC AUCTION ALL REAL ESTATE WHICH THE CITY OF
PADUCAH HAS PURCHASED OR I.:AY HIMEAFTER PURCHASE AT SALES HELD BY T:?E
AASTER COTI]AISSIONER FOP, TIIE SATISFACTION OF LIENS FOR TAXES, AND
PRESC.iIBING THE TERMS UMER ','MICH SAID PROPERly SHALL BE SOLD �
BE IT RES-. L?'ED BY THE BOARD 0 COt, tcI5SI0D?ERS OF THE
CITY OF PADUCCI, KE:?TUCI{Y:
SECTION 1.
That the City S.:anager be, and he is hereby directed to sell
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to the highest bidder at public auction, the real estate which the
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city has purchased or may hereafter purchase at tax sal es held by t<e
taster Commissioner of the :,_cCracken Circuit Court. Provided,
however, that as to the real estate which has heretofore been
offered for sale and the bids therefor have been rejected, the
City ,7anager may submit to the Board of Commissioners any offer
in excess of the amount of such bid, together with his
recommendation,a nd if the amount offered is deemed fair and
reasonable, the sale of such property may be made by the
acceptance of such offer and the adoption of an ordinance
authorizing the sale of the real estate for which the offer if
made.
SECTION 2.
Before proceeding -itr the sale of any property which has
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not heretofore been cCfered for sale, the City ,'anager shall
advertise the time, terms and place thereof by posting ytp
at the City Hall door, and also on the lot to be sold, a
-.-mitten notice of such sale for at least ten days preceding
the date of sale. The City Fanager shall, in addition thereto,
advertise the time, 'terms and place of sale by inserting; notice
thereof in newspaper, together with a description of the property
to be sold, for at least three days next preceeding the date of sale.
SECTION 3.
The purchase price for the above described real estate
may be paid in cash but the purchaser may, at his option, pay one-
third of the purchase price in cash at the time of the execution and
delivery of a deed to him, and tl e remainder shall be paid in two
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equal monthly installments due one and two months from the date of
the execttion of the deed, with interest thereon at 6 until paid,
and in vhich event a lieh shall be retained in the deed as security,
for payment of the balance of the purchase price.
Page 220
SECTION 4.
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The accentance of any and all bids shall be subject to
the approval of the hoard of Co:nriissioners, and no sale- shall be
effective u::lcss cr until it is confirmed by said Hoard.
SECTION 5.
This resclution shall be in full force and effect from
and after its adoption.
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.:"ayor
Passed b. the Pos.rd of Commiss_oners, Larch 26, 1940.
Recorded by Rudy Stewart, City Clerk, :,.arch 27, 1940.
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