Title
Ordinance of the Lexington-Fayette Urban County Government directing the Lexington-Fayette Urban County Government Public Facilities Corp. to take certain formal actions as the agency and instrumentality and as the constituted authority of the Lexington-Fayette Urban County Government; specifically directing the issuance of, authorizing and approving the Corporation's Mortgage Revenue Refunding Bonds (Court Facilities Project), Series 2016. [Dept. of Finance, O'Mara]
Summary
Authorize the Ordinance & Resolution for the advertisement, issuance and sale of the Lexington-Fayette Urban County Government Public Facilities Corporation Mortgage Revenue Refunding Bonds(Court Facilities Project), Series 2016E. It is therefore advantageous and in the best interests of the Lexington-Fayette Urban County Government to proceed with the issuance of its Public Facilities Corporation Mortgage Revenue Refunding Bonds(Court Facilities Project), Series 2016E to realize interest savings in the issuance of the new bonds. There is no impact for FY 2017. There will be a cost of $420,475 in future fiscal years. (L0925-16)(O'Mara)
Budgetary Implication: No FY 2017
Advance Document Review:
Law: Yes, Completed, BOND COUNSEL
Risk Management:
Fully Budgeted: NA
Account Number:
This Fiscal Year Impact: $
Annual Impact: $
Project:
Activity:
Budget Reference:
Current Balance:
Body
WHEREAS, the Lexington-Fayette Urban County Government Public Facilities Corporation (the "Corporation"), a nonprofit, no-stock corporation, has been duly organized and created pursuant to the provisions of Kentucky law to act as the agency and instrumentality of the Lexington-Fayette Urban County Government (the "Urban County Government") in the planning, development, acquisition, construction, renovation, equipping and financing of public projects, as provided by Section 58.180 of the Kentucky Revised Statutes; and
WHEREAS, the Corporation has previously issued its Lexington-Fayette Urban Coun...
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