HomeMy WebLinkAboutOrdinances Book 15, Page 77, No Resolution Number77�
A RESOLUTION AUTHORIZING THE TRANSFER OF THE SUM OF $353,000.00
FROM THE PUBLIC WORKS CUMULATIVE RESERVE FUND ON DEPOSIT IN CITIZENS
BANK & TRUST COMPANY OF PADUCAH, KENTUCKY, TO AN ACCOUNT IN SAID BANK
TO BE KNOWN AS PADUCAH CITY HALL CONSTRUCTION ACCOUNT
WHEREAS, on December 27, 1960, by an ordinance adopted by the
Board of Commissioners of the City of Paducah, Kentucky, the Public
Works Cumulative Reserve Fund was established under the authority
granted by Sections 66.410 through 66.460 of Kentucky Revised Statutes,
and
WHEREAS, on May 31, 1963 an ordinance was adopted by said Board
of Commissioners authorizing (subject to the approval of Housing and
Home Finance Agency of the United States) the construction of a City
Hall building, and
WHEREAS, it is necessary that funds in said Public Works
Cumulative Reserve Fund be applied on the cost of said construction.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS
OF THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. That the City Manager and the City Treasurer be,
and they are hereby, authorized to transfer the sum of $353,000.00
from the Public Works Cumulative Reserve Fund on deposit in Citizens
Bank & Trust Company of Paducah, Kentucky, to a separate account to be
known as Paducah City Hall Construction Account.
SECTION 2. The City Manager and City Treasurer are authorized
to make disbursements from said Paducah City Hall Construction Account
by means of checks in payment of construction costs for the new City
Hall building authorized to be constructed by an ordinance adopted on
May 31, 1963. Funds in said account shall be used for no other purpose
and after completion of said City Hall building and the payment of all
costs in connection therewith, any money remaining in said Paducah City
Hall Construction Account shall be transferred back to the Public Works
Cumulative Reserve Fund.
SECTION 3. This Resolution shall be in full force and effect
from and after its adoption.
,i
Mayor
Passed by the Board of Commissioners June 11, 1963
Recorded by Sarah Thurman, City Clerk, June 11, 1963.