HomeMy WebLinkAbout2003-10-6708NEW
ORDINANCE NO. 2003-10-6708
AN ORDINANCE AUTHORIZING AND DIRECTING THE MAYOR
TO EXECUTE A MEMORANDUM OF UNDERSTANDING WITH AN ECONOMIC
DEVELOPMENT PROSPECT
BE IT ORDAINED BY THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. That the Mayor is hereby authorized and directed to execute
a Memorandum of Understanding offering location incentives to an economic
development prospect that will locate in Industrial Park West in the Industrial
Development Authority Speculative Building.
SECTION 2. That the Finance Director is hereby authorized to proceed
with an immediate expenditure in the amount of $140,000 from Commission
Contingency for the incentives.
SECTION 3. In order to seize the opportunity to get an immediate
commitment to Paducah -McCracken County by the prospect, an emergency is hereby
declared to exist and this ordinance shall become elective immediat ith o reading.
ayor
ATTEST:
6 Tammara S. Brock, City Clerk
Introduced and adopted by the Board of Commissioners, October 28, 2003
Recorded by Tammara S. Brock, City Clerk, October 28, 2003
Published by The Paducah Sun, November 5, 2003
\ord\memo of understanding — economic prospect
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