HomeMy WebLinkAboutOrdinance Book 18, Page 629, No Resolution Number6p,
A RESOLUTION PROVIDING FOR THE ESTABLISHMENT OF A BANK ACCOUNT
TO BE KNOWN AS "CITY OF PADUCAH, DEBT SERVICE RESERVE FUND"
BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE CITY OF
PADUCAH,KENTUCKY:
SECTION 1. There is hereby established a bank account to be known as
"City of Paducah, Debt Service Reserve Fund", and The Paducah Bank & Trust Company,
Paducah, Kentucky, is designated as the depository for said account; the purpose of
said account shall be for the accumulation of a reserve for the payment of principal and
interest on bonds pursuant to the terms and provisions of the 1974 City of Paducah
Sewer System Revenue Bond Ordinance.
SECTION 2. The City Manager and the City Treasurer of the City of Paducah,
Kentucky, are hereby authorized and approved as joint signatories for the aforesaid
account.
SECTION 3. This resolution shall be in full force and effect from and
after its adoption.
Mayor
Passed by the Board of Commissioners July 2, 1974
Recorded by Sarah Thurman, City Clerk, July 2, 1974.