Lexington-Fayette Urban County Government - File #: 0793-18

• File #: 0793-18
• Version: 1
• Name: 2018A Bond Ordinance
• Type: Ordinance
• Status: Approved
• File created: 7/30/2018
• In control: Urban County Council
• On agenda: 8/30/2018
• Final action: 8/30/2018
• Enactment date: 8/30/2018
• Enactment #: O-055-2018
• Title: An Ordinance of the Lexington-Fayette Urban County Government authorizing the issuance of its various purpose General Obligation Bonds, Series 2018A, in one or more subseries, in an aggregate principal amount of $46,000,000 (which amount may be increased by an amount of up to ten percent (10%)); approving a form of Series 2018A bonds; authorizing designated officers to execute and deliver the Series 2018A Bonds; authorizing and directing the filing of notice with the state local debt officer; providing for the payment and security of the series 2018A bonds; creating a sinking fund; creating a bond payment fund for the Series 2018A Bonds; authorizing acceptance of the bid(s) of the bond purchaser of the Series 2018A Bonds; and repealing inconsistent ordinances. [Dept. of Finance, O'Mara]

Date	Ver.	Action By	Action	Result
8/30/2018	1	Urban County Council	Approved	Pass
8/16/2018	1	Urban County Council	Received First Reading
8/14/2018	1	Urban County Council Work Session	Approved and Referred to Docket	Pass

Title
An Ordinance of the Lexington-Fayette Urban County Government authorizing the issuance of its various purpose General Obligation Bonds, Series 2018A, in one or more subseries, in an aggregate principal amount of $46,000,000 (which amount may be increased by an amount of up to ten percent (10%)); approving a form of Series 2018A bonds; authorizing designated officers to execute and deliver the Series 2018A Bonds; authorizing and directing the filing of notice with the state local debt officer; providing for the payment and security of the series 2018A bonds; creating a sinking fund; creating a bond payment fund for the Series 2018A Bonds; authorizing acceptance of the bid(s) of the bond purchaser of the Series 2018A Bonds; and repealing inconsistent ordinances. [Dept. of Finance, O'Mara]
Summary
Authorization for the Sale and Issuance of the Lexington-Fayette Urban County Government Various Purpose General Obligation, series 2018A in an aggregate Principle amount not to exceed $46,000,000(which May be increased by 10%). This Ordinance will permit the sale of the 2018A Various Purpose Bonds of which the bond proceeds will fund the construction, installation, renovations, repairs and upgrades and equipping of Fire stations, safety operations and other safety related projects, new Firetrucks, new Police equipment, new Police cars, Rd. resurfacing, Rd. maintenance, Rd. upgrades, streetscapes and sidewalk improvements, pedestrian safety improvements, renovations, repairs and upgrades related to public buildings, renovations, repairs and upgrades related to park projects, providing financial assistance to the Lexington Center Corporation for the expansion and replacement of the Lexington Convention Center and various other improvements within Dept.s of the Lexington-Fayette Urban County Government. The fiscal year impact is estimated to be $901,923 in FY 2019. The annual impact will be $4,178,000 for twenty years. (0793-18)(O'Mara)

Budgetary Implications [sel...