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ORDINANCE NO. 91-3-4578
AN ORDINANCE AUTHORIZING THE MAYOR AND CITY CLERK
TO ENTER INTO A CONTRACT SMITH DEVELOPMENT, INC. IN THE
AMOUNT OF $250,000.00 TO ACQUIRE PROPERTY LOCATED BETWEEN
FIRST AND SECOND STREETS AND BROADWAY AND JEFFERSON IN THE
CITY OF PADUCAH, McCRACKEN COUNTY, KENTUCKY w
BE IT ORDAINED BY THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. The Mayor and City Clerk are hereby
authorized to enter into a contract with Smith Development,
Inc. in the amount of Two Hundred Fifty Thousand Dollars
($250,000.00) with Smith Development, Inc. for the
acquisition of property located between First and Second
Streets and Broadway and Jefferson in the City of Paducah,
McCracken County, Kentucky, in accordance with a Letter of
Intent dated January 23, 1991, a copy of which is attached
hereto and incorporated by reference as if fully set out
herein.
SECTION 2. This property is more particularly
described as follows:
PARCEL A
Parcel A being a portion of Block 5 Old Town
Subdivision more particularly described as
follows:
Beginning at a point in the south corner of Block
5, said point being the intersection of the east
right of way line of Second Street and the north
right of way line of Broadway; thence in a
northerly direction along the east right of way+
line of Second Street a distance of 259.58 feet -
to a point; thence in an easterly direction
perpendicular to the east right of way line of
Second Street a distance of 98 feet to a point;
thence in a southerly direction perpendicular to
the aforementioned line a distance of 13.25 feet
to a point; thence in an easterly direction
perpendicular to the aforementioned line a
distance of 75.25 feet to a point, said point
located in the west right of way line of a 16 foot
alley; thence along the west side of said west
right of way line a distance of 249.08 feet to a
point, said point located in the north right of
way line of Broadway; thence in a westerly
direction along said north right of way line of
Broadway a distance of 173.25 feet to the point of
beginning.
PARCEL B
Parcel B being a portion of Block 5 Old Town
Subdivision more particularly described as
follows:
Beginning at a point in the east corner of Block
5, said point located at the intersection of the
west right of way line of First Street and the
north right of way line of Broadway; thence in a
westerly direction along said north right of way
line of Broadway a distance of 173.25 feet to a
point,'said point located in the east right of way
101
line of a 16 foot alley; thence along said east
right of way line a distance of 198.25 feet - to a
point; thence in an easterly direction
perpendicular to the aforementioned alley a
distance of 173.25 feet to a point, said point
located in the west right of way line of First
Street; thence in a southerly direction along said
west right of way line of First Street to the
point of beginning.
SECTION 3.
The account number for this
expenditure shall be determined by the City Manager.
SECTION 4.
This ordinance shall be read on two
separate days and will become effective upon publication of
title and a certified summary thereof.
GERRY B. MONTGOMERY
Mayor
Introduced by the Board of Commissioners March 5, 1991
Adopted by the Board of Commissioners March 12, 1991
Recorded by Lenita Smith, City Clerk, March 12, 1991
Published by The Paducah Sun March 18, 1991.
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