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ORDINANCE 93- /a- 6-04S7 -
AN ORDINANCE AMENDING ORDINANCE 93-7-4974, ACCEPTING
THE PROPOSAL OF KENTUCKY LEAGUE OF CITIES TO FINANCE THE
ACQUISITION OF SEVEN FIRE TRUCKS, AND AUTHORIZING THE MAYOR TO
EXECUTE ALL REVISED DOCUMENTS RELATING TO SAME
BE IT ORDAINED BY THE CITY OF PADUCAH, KENTUCKY:
This ordinance is hereby amended to read as follows:
"SECTION 1. That the City of Paducah accepts the
proposal of Kentucky League of Cities in the amount of
$1j202 $$X100 $1,293,695.00, which includes $23,708.00 for
Kentucky League of Cities issuance costs. Quarterly payback
will be for a term of ten (10) years with maximum total
interest of approximately $293,000.00 for the duration of the
loan. The Kentucky League of Cities total borrowing cost shall
not exceed the sum of $293,000.00. This sum is for financing
the acquisition of seven (7) new fire trucks to be used by the
Fire Department, said proposal being in substantial compliance
with the specifications authorized by the Board of Commis-
sioners, and as contained in the bid proposal of Kentucky
League of Cities, of June 14, 1993. Financing for this loan
shall be at a $174 4.65 annual percentage rate. I/WWWRi/CSX
UA/04toill
"SECTION 2. That the Mayor is authorized to execute
an amended contract and all related documents with Kentucky
League of Cities for the purchase of seven new fire trucks
authorized in Section 1 above, according to the specifications,
bid proposal and all contract documents heretofore approved and
incorporated in the bid proposal."
SECTION 3. This ordinance shall be read on two
separate days and will become effective upon summary
publication pursuant to KRS Chapter 424.
JA
Ma or
ATTEST:
J
"'Clty Clerk
Introduced by the Board of Commissioners November 23, 1993
Adopted by the Board of Commissioners 7, 1993
Recorded by Lenita Smith, City lerk, , 1993
Published by The Paducah Sun �� �l, / C193.
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