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ORDINANCE NO. 95-12-5420
ATTEST:
14UC�'ller
Introduced by the Board of Commissioners December 5, 1995
Adopted by the Board of Commissioners December 12, 1995
Recorded by Lenita Smith, City Clerk, December 12, 1995
Published by The Paducah Sun December 16, 1995
ord/lease
5
AN ORDINANCE AUTHORIZING THE MAYOR TO EXECUTE A
RENEWAL LEASE AGREEMENT BETWEEN THE CITY OF PADUCAH AND FOREST
HILLS PUBLIC PROJECT CORPORATION
WHEREAS, on November 20, 1968, the City and Forest
Hills entered into a lease agreement wherein the City leased
and let unto Forest Hills certain real property and
improvements located in the City of Paducah, Kentucky, which
real property is generally referred to as Forest Hills Public
Project; and
WHEREAS, the term of said lease agreement was for a
period of time that the general obligation bond issue of the
City in the amount of $1,270,000, which general bond issue was
adopted by the City on February 21, 1968, remained unpaid; and
WHEREAS, said bond issue has been satisfied, and
according, the parties terminated said November 20, 1968, lease
agreement; and
WHEREAS, in light of the foregoing, the parties do
now desire to enter into a renewal lease agreement.
BE IT ORDAINED BY THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. That the Mayor is hereby authorized to
enter into a Renewal Lease Agreement between the City of
Paducah and Forest Hills Public Project Corporation for lease
to Forest Hills certain real property and improvements located
in the City of Paducah known as Forest Hills Public Project.
SECTION 2. This ordinance shall be read on two
separate days and will become effective upon summary
publication pursuant to KRS Chapter 424.
ATTEST:
14UC�'ller
Introduced by the Board of Commissioners December 5, 1995
Adopted by the Board of Commissioners December 12, 1995
Recorded by Lenita Smith, City Clerk, December 12, 1995
Published by The Paducah Sun December 16, 1995
ord/lease
5