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ORDINANCE NO. 91-5-4606
AN ORDINANCE APPROVING AN AGREEMENT BETWEEN THE
CITY OF PADUCAH, KENTUCKY, AND PADUCAH AIRPORT CORPORATION
EXPRESSING THE INTENT AND MORAL OBLIGATION OF THE CITY OF
PADUCAH, KENTUCKY, TO ASSIST, UNDER CERTAIN CONDITIONS, IN
THE PAYMENT OF A $500,000.00 INDEBTEDNESS TO BE INCURRED BY
THE PADUCAH AIRPORT CORPORATION FOR IMPROVEMENTS AT BARKLEY
REGIONAL AIRPORT
BE IT ORDAINED BY THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. The City of Paducah, Kentucky, does
hereby approve and agree to execute an Agreement by and
between the City of Paducah, Kentucky, a municipal
corporation, and the Paducah Airport Corporation, a Kentucky
nonstock, nonprofit corporation, wherein the City of
Paducah, Kentucky, expresses its intent and moral obligation
to assist, under certain conditions, in the payment of a
$500,000.00 indebtedness to be incurred by the Paducah
Airport Corporation in order to finance the construction and
equipping of a building at Barkley Regional Airport.
SECTION 2. The Mayor of the City of Paducah is
hereby authorized and directed, and the City Clerk of the
City of Paducah is hereby authorized and directed to attest
under the seal of the City an agreement substantially in
the form attached hereto and approved by the Corporation.
Counsel for the City as to form and legality.
SECTION 3. This ordinance shall be read on two
separate days and will become effective upon publication of
title and a certified summary thereof.
AGER B. MONTGO RY
Mayor
Introduced by the Board of Commissioners May 3, 1991
Adopted by the Board of Commissioners May 14, 1991
Recorded by Lenita Smith, City Clerk, May 14, 1991
Published by The Paducah Sun May 20, 1991
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