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ORDINANCE #93 - _Lo -502c[
AN ORDINANCE APPROVING AN AMENDED
GRANT AGREEMENT BETWEEN KENTUCKY
STATE PROPERTY AND BUILDINGS COMMISSION
AND CABINET FOR ECONOMIC DEVELOPMENT
AND THE G.P.E.D.C., INC. FOR GRANT
PROCEEDS UP TO $2,200,000.00 FOR THE
DEVELOPMENT OF THE PADUCAH INFORMATION
AGE PARK
WHEREAS, G. P. E. D.C., Inc . has applied for a grant from the
Commonwealth of Kentucky in the amount of $2, 200, 000.00 for the purpose
of procuring sufficient funds to construct necessary facilities at the
Paducah Information Age Park; and
WHEREAS, it continues to be the belief of the City of Paducah
that the Paducah Information Age Park is extremely beneficial to the City of
Paducah, and additionally, that said grant would be extremely beneficial to
the implementation of the development at the Paducah Information Age
Park; and
WHEREAS; on June 53, 1993, the City did pass an Ordinance
authorizing the Mayor to execute a grant agreement which had been
requested by the Commonwealth of Kentucky, and in accordance with said
( authorization, the Mayor did execute the grant agreement for and on behalf
of the City; and
WHEREAS, following the aforesaid Ordinance and execution of
the agreement, the Commonwealth of Kentucky has requested that various
amendments be made to the grant agreement which was heretofore
authorized and executed; and
WHEREAS, the amendments to the grant agreement do not
essentially change the character of the terms and provisions of the
previous grant agreement heretofore executed by the Mayor;
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF
COMMISSIONERS OF THE CITY OF PADUCAH, AS FOLLOWS:
SECTION 1.. The City of Paducah, Kentucky, does hereby
approve and agree to execute the amended grant agreement to be executed
by and between Kentucky State Property and Buildings Commission, the
Cabinet for Economic Development, and G. P. E. D. C. , Inc. and that the
City of Paducah does hereby specifically approve and consent to such
grant.
SECTION 2. The Mayor of the City is hereby authorized and
directed to execute, and the City Clerk is hereby authorized and directed
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to attest under the seal of the City, the amended grant agreement which
amended grant agreement is attached hereto.
SECTION 3. Pursuant to KRS 83A.060, the City Commission
suspends the requirement of the second reading of this Ordinance. As
grounds therefore, the City Commission does hereby declare an emergency
to exist as to the execution of the amended grant agreement. Specifically,
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any delay in the execution of the aforesaid amended grant agreement could
adversely impact the continued development of the Paducah Information
Age Park. It is necessary that funding be immediately procured from the
Commonwealth of Kentucky, Cabinet for Economic Development so as to pay
costs and expenses which have been incurred and which continue to be
incurred in regard to the development of the project.
SECTION 4. This Ordinance shall become effective upon the
first reading of this Ordinance and publication of same.
Y. MAYOR
Introduced by the Board of Commissioners 5�l cm
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Adopted by the Board of Commissioners �,.�4z 5, /993
Recorded by City Clerk
Published by The Paducah Sun / /, /C7 93