Title
Ordinance of the Council of the Lexington-Fayette Urban County Government authorizing and approving the execution and delivery of a Fifth Supplemental Lease Agreement between the Lexington-Fayette Urban County Airport Board as the lessor and the Lexington-Fayette Urban County Government as the lessee relating to the issuance and sale of an amount not to exceed $65,000,000 in aggregate principal amount of Lexington-Fayette Urban County Airport Board General Airport Revenue and Revenue Refunding Bonds, 2016 Series (Lexington-Fayette Urban County Government General Obligation) for the purposes of (i) financing the costs of the 2016 project to be located at the Blue Grass Airport in Fayette County, Ky. and (ii) refunding all or a portion of certain outstanding prior bonds issued by the Board. [Dept. of Finance, O'Mara]
Summary
Authorization to Authorize the Ordinance for the supplemental lease Agreement between the Lexington-Fayette Urban County Government and the Lexington Fayette Urban County Airport Board relating to the issuance and sale not to exceed $65,000,000 in aggregate principal amount of the Lexington Fayette Urban County General Airport Revenue and refunding bonds Series 2016. (L0942-16) (O'Mara)
Budgetary Implications [select]: NO
Advance Document Review:
Law: { Select Yes, Completed by [Attorney Name, Date]}
Risk Management: {No}
Fully Budgeted N/A:
Account Number: N/A
This Fiscal Year Impact: N/A
Annual Impact: N/A
Project:
Activity:
Budget Reference:
Current Balance:
Body
WHEREAS, the Lexington-Fayette Urban County Airport Board (the "Board") has determined the need to (i) refund all or a portion of the remaining outstanding principal amount of its $31,880,000 General Airport Revenue Refunding Bonds, 2009 Series A (Lexington-Fayette Urban County Government General Obligation) (non-AMT) dated November 18, 2009, and currently outstanding in the principal amount of $27,080,000 (the "Prior Bonds"); and (ii) finance and acquire addit...
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