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HomeMy WebLinkAbout99-4-6016ORDINANCE NO. 99-4-6016 AN ORDINANCE PROVIDING AUTHORITY TO THE MAYOR TO EXECUTE ON BEHALF OF THE CITY A DEED AND OTHER NECESSARY DOCUMENTS TO FACILITATE THE PURCHASE OF THE PROPERTY LOCATED AT 129 N. 4 TH STREET FROM FALCONITE-HIPP, LLC. WHEREAS, revitalization of the Downtown area of Paducah is important to the City of Paducah, Kentucky; and, WHEREAS, unoccupied buildings in the City of Paducah Downtown area affect the City of Paducah, Kentucky and present an opportunity for Downtown development; and, WHEREAS, the City has entered into a Contract to Purchase the property located at 129 N. 4th Street; WHEREAS, the City of Paducah, Kentucky, through its Board of Commissioners, has determined that the purchase of this real property is in the public interest and will assist with continued Downtown revitalization. BE IT ORDAINED BY THE CITY OF PADUCAH, KENTUCKY: SECTION 1. That the Mayor, on behalf of the City of Paducah, Kentucky, is hereby authorized to execute a Deed and any other document necessary for the purchase (' ° of the property located at 129 N. 4th Street from Falconite-Hipp, LLC. �� ✓ SECTION 2. That time is of the essence in preserving the sale of the property to Duke & Long Distributing Company, Inc., a ready, willing and able Purchaser, which will enhance the economic development of the Downtown area of Paducah, and in order to complete the project proposed by Duke & Long during the current construction season, an emergency is hereby declared to exist and this ordinance shall become effective immediately with one reading. May r ATTEST: City derk 173 174 Introduced and adopted by the Board of Commissioners April 5, 1999 Recorded by Lenita Smith, City Clerk, April 5, 1999 Published by The Paducah Sun April 9, 1999 I hereby certify that the above is a true and correct copy of an ordinance adopted by the City of Paducah on April 5, 1999. winword/realest/penny Len* a Smith, qty Clerk