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HomeMy WebLinkAboutOrdinances Book 12, Page 634, No Ordinance Number634 / AN ORDINANCE PROVIDING FOR THE EXECUTION OF A DEED BY THE CITY OF PADUCAH, KENTUCKY, TO PROPERTY LOCATED NEAR THE PADUCAH-LONE OAK ROAD SITUATED NEAR THE WATER RESERVOIR, AND PROVIDING THAT SAID DEED BE HELD IN ESCROW BY THE CITIZENS SAVINGS BANK OF PADUCAH, KENTUCKY, ACCORDING TO THE TERMS AND CONDITIONS OF AN AGREEMENT; AND PROVIDING THAT THE PURCHASE MONEY TO BE PAID FOR SAID CONVEYANCE BE PAID TO THE PADUCAH WATER WORKS FOR USE AS PART OF ITS OPERATING FUNDS; AND AUTHORIZING ROBERT CHERRY, THE MAYOR, AND SARAH THURMAN, THE CITY CLERK, TO EXECUTE AND DELIVER SAID DEED OF CONVEYANCE FOR AND ON BEHALF OF THE CITY OF PADUCAH; AND AUTHORIZING SAID MAYOR TO EXECUTE AN ESCROW AGREEMENT.FOR AND ON BEHALF OF THE CITY OF PADUCAH. BE IT ORDAINED BY THE BOARD OF COMMISSIONERS OF THE CITY BF PADUCAH, KENTUCKY: Section 1. Whereas the City of Paducah did,.on the 30th day of November, 1935, purchase 33 acres of land from James P. Smith, executor, et al, for the use and benefit of the Paducah Water Works, with money derived from the operating revenues of said Paducah Water Works, said purchase being evidenced by the deed from James P. Smith, executor, at al, to the City of Paducah, dated November 30 1935, recorded in the office of the Clerk of the McCracken County Court in Deed Book 190 at page 50; whereas no part of the purchase money for said land was derived from the sale of water works bonds; whereas a water works reservoir has been constructed on part of said 33 acre tract of land; whereas a large portion of said 33 -acre tract has lain vacant and idle, and is not needed at the present or at any foreseeable future date for water works purposes; and whereas it will serve the best interest of the Paducah Water Works to sell and convey the unused and unusable portion of said 33 -acre tract of land so that the proceeds from such sale may be returned to the operating funds of said water works, all of which fact are attested by a letter from the Treasurer of the Paducah Water Works addressed to the Mayor and Board of Commissioners of the City of Paducah, which was this day received and filed; and whereas a sales agreement was duly made on February 13, 19 2, by and between the Paducah Water Works and J. W. Pilley and J. H. Haralson, partners doing business under the firm name of Pilley-Haralson, Builders, providin for the sale of part of the unused portion of said 33 -acre tract of land in consideration of the payment by said purchasers to said Paducah water Works of the sum of $19,610.00, and further providing that a deed of conveyance for said land be placed in escrow with the Citizens Savings Bank at Paducah, Kentucky, pending the delivery of said purchase money and subject to all of the terms of said agreement; and whereas said agreement was received, filed and approved by the Boar of Commissioners of the City of Paducah on Februqry 19, 1952; now therefore, this ordinance is enacted for the purpose of carrying into effect the provisions of said agreement. b35. `- Section 2. That the City of Paducah execute a deed of conveyance to J. W. Pilley and J. H. Haralson, partners doing business under the firm name of Pilley- Haralson, Builders, of Memphis, Tennessee, as grantees, conveying to'them all right, title and interest of said city in certain property consisting of two (2) tracts as hereinafter described, and that the ,City of Paducah deliver said deed i escrow to the Citizens Savings Bank according to the terms of said sales agreement referred to in Section 1 hereof; and Robert Cherry, Mayor of the City of Paducah, and Sarah Thurman, its clerk, are hereby authorized and empowered, for and on behalf of said city, to execute and deliver said deed to the aforesaid escrow agent, with covenant of special warranty, and subject to any defects, encroachment or other state of fact which an accurate survey would disclose; said two (2) certain lots or parcels of land, being situated in McCracken County, Kentucky, are bounded and described as follows: Tract No. 1• Beginning at a concrete fence post where the eastern right-of-way line of the Paducah Water Works Reservoir Road would intersect the north line of a tract of ground owned by the Paducah Water Works; thence north 69 deg 17 min east 1040.92 feet to the northeast corner of the Paducah Water Worksproperty; thence south 26 deg 32 min east 783.68 feet to the south east corner of the Paducah Water Works property; thence south 65 deg 38 min west 1022.9 feet; thence at an interior angle of 93 deg 04 min in a northerly direction and along a line 95 feet at right angles from and parallel with the existing west curb of the Paducah Water Works Reservoir Road, if said curb were ex- tended, a distance of 850.59 feet to the point of beginning. Tract No. 2. Beginning at a concrete fence post at the north west corner of the tract above conveyed; thence in a southerly direction along the west line of the tract above conveyed a distance of 850.59 feet to the southwest corner of the tract above conveyed; thence ih a westerly direction with an interior angle of 86 deg 50 min and along the south line of the Paducah Water Works property a distance of 95.14 feet; thence in a northerly direction at an interior angle of 93 deg 04 min and along a line 95 feet from and at right angles to the first described line, said line being also the extension of the west curb of the Reservoir Road a distance of 837 feet; thence at an inter- ior angle of 94 deg 41 min a distance of 95.32 feet to the point of beginning. Section 3. Robert Cherry, as Mayor of the City of Paducah, is hereby directed to execute an appropriate escrow agreement with said Citizens Savings Bank and said purchasers, which said agreement shall conform in all its terms with the provisions of this ordinance and the provisions of said sales agreement dated February 13, 1952, made by and between the Paducah Water Works and J. W. Pilley and J. H. Haralson as partners. Section 4. The purchase money for said land, $19,610.00, shall be paid 636 by said escrow agent to the City of Paducah for the use of the Paducah Water Works as part of its operating.funds. SECTION 5. All ordin= es and parts of ordinances in conflict herewith are, to the extent of such conflict, hereby repealed. SECTION 6. This ordinance shall be in full force and effect from and after its adoption. d , i %� v a or Passed by the Board of Commissioners March 4, 1952 Recorded by Sarah Thurman, City Clerk, March 4, 1952.