HomeMy WebLinkAboutOrdinance Book 18, Page 205, Ordinance Number 73-4-815ORDINANCE NO. 73-4-815
AN ORDINANCE AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE
AN OPTION TO THE PADUCAH McCRACKEN RIVERPORT AUTHORITY FOR THE PURCHASE
BY SAID AUTHORITY FROM THE CITY OF RIVERFRONT PROPERTY AT 2000 SOUTH 4TH
STREET IN THE CITY OF PADUCAH
BE IT ORDAINED BY THE BOARD OF CO1,1MISSIONERS OF THE CITY OF
PADUCAH, KENTUCKY
SECTION 1. That the Mayor and City Clerk be, and they are hereby,
authorized to execute an option to the Paducah McCracken Riverport Authority for
for the purchase by said Authority and the sale by the City of the City's Riverfront
property at 2000 South 4th Street. Said option price to be $1.00 a»d said purchase
price to be $1.00, for a term of one year from the date of this ordinance. Said option
and sale to be subject to the existing lease on the property, and the continued use by
the Floodwall Department of the City of Paducah for purpose of maintaining an
office and floodwall maintenance equipment. Said option to further provide that
any conveyance revert back to the City within five years should the said Authority
fail to establish a port facility on the property within said period of time.
SECTION 2. This ordinance shall be in full force and effect from
and after its adoption.
Mayor
Passed by the Board of Commissioners April 24, 1973
Recorded by Sarah Thurman, City Clerk, April 24, 1973.
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