PADUCAH, Ky. (KFVS) - The Paducah, Kentucky Board of Commissioners has approved an amendment to the current tax structure to help pay for a community aquatic center.
The amendment will raise the insurance premium tax from six percent to seven percent. This one percent increase to generate approximately $700,000 in annual revenue.
This money will go towards the debt service associated with the 2020A bond for the indoor recreation and aquatic facility’s construction.
A second ordinance passed was a general obligation bond totaling $22 million for the indoor recreation and aquatic center for construction and equipping the facility. This is a 20-year bond.
According to Pamela Spencer, public information officer for the City of Paducah, the conceptual design is underway for the aquatic center.
She said it’s still in the planning phase.
Commissioner Richard Abraham was the lone “no" vote on both measures.