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Paducah approves $27.82M general-obligation bond for riverfront and sports park
Summary
The commission adopted an ordinance authorizing up to $27.82 million in general-obligation bonds (adjustable by +/- $2.785M) to fund riverfront infrastructure and the city's portion of a municipal sports park; the bonds pledge the city's full faith and credit and include a tax levy provision.
The Paducah Board of Commissioners on Jan. 13 adopted an ordinance authorizing the issuance of City of Paducah general obligation bonds, series 2025A, in an approximate principal amount of $27,820,000 (subject to an increase of up to $2,785,000 or decrease by any amount).
The ordinance directs that bond proceeds may be used to finance riverfront infrastructure improvements (including a riverboat excursion pier and plaza, improvements to transient boat dock facilities, intersection improvements and a multimodal pathway) and to finance a new municipal sports park complex. The ordinance also authorizes payment of issuance costs and any credit enhancements.
Nut graf: The bonds pledge the full faith, credit and taxing power of the city and include a…
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