Lexington-Fayette Urban County Government - File #: 0965-19

• File #: 0965-19
• Version: 1
• Name: Issuance and Sale of the FY20 GO 2019A Various Purpose Project Bonds
• Type: Ordinance
• Status: Approved
• File created: 9/9/2019
• In control: Urban County Council
• On agenda: 10/10/2019
• Final action: 10/10/2019
• Enactment date: 10/10/2019
• Enactment #: O-073-2019
• Title: An Ordinance of the Lexington-Fayette Urban County Government authorizing the issuance of its Various Purpose General Obligation Bonds, Series 2019, in one or more subseries, in an aggregate principal amount of $20,000,000 (which amount may be increased by an amount of up to ten percent (10%) or decreased by an unlimited amount); approving a form of Series 2019 Bonds; authorizing designated officers to execute and deliver the Series 2019 Bonds; authorizing and directing the filing of notice with the State Local Debt Officer; providing for the Payment and security of the Series 2019 Bonds; creating a Sinking Fund; creating a Bond Payment Fund for the Series 2019 Bonds; authorizing acceptance of the bid(s) of the bond purchaser of the Series 2019 Bonds; and repealing inconsistent Ordinances. [Dept. of Finance, O'Mara]

Date	Ver.	Action By	Action	Result
10/10/2019	1	Urban County Council	Approved	Pass
9/26/2019	1	Urban County Council	Received First Reading
9/17/2019	1	Urban County Council Work Session

Title
An Ordinance of the Lexington-Fayette Urban County Government authorizing the issuance of its Various Purpose General Obligation Bonds, Series 2019, in one or more subseries, in an aggregate principal amount of $20,000,000 (which amount may be increased by an amount of up to ten percent (10%) or decreased by an unlimited amount); approving a form of Series 2019 Bonds; authorizing designated officers to execute and deliver the Series 2019 Bonds; authorizing and directing the filing of notice with the State Local Debt Officer; providing for the Payment and security of the Series 2019 Bonds; creating a Sinking Fund; creating a Bond Payment Fund for the Series 2019 Bonds; authorizing acceptance of the bid(s) of the bond purchaser of the Series 2019 Bonds; and repealing inconsistent Ordinances. [Dept. of Finance, O'Mara]

Summary
Authorization to approve the Sale and Issuance of the Lexington-Fayette Urban County Government Various Purpose General Obligation Bonds, Series 2019A in an aggregate Principle amount not to exceed $20,000,000 (which may increase by 10%). These bond proceeds will be for projects approved during the FY 2020 budget and for issuance costs. Funds are budgeted. (L-0965-19)(O'Mara)
Budgetary Implications: Yes
Advance Document Review:
Law: Yes, Completed by Dave Barberie, 09/09/2019
Risk Management: No
Fully Budgeted: Yes
Account Number: 1101-141401-1898-78401
This Fiscal Year Impact: $146,016
Annual Impact:
Project:
Activity:
Budget Reference:
Current Balance: $340,000.00
Body
WHEREAS, the Lexington-Fayette Urban County Government has previously determined the necessity of financing the acquisition of various projects for departments within the Lexington-Fayette Urban County Government, including, but not limited to, (i) repairs and upgrades and equipping of fire stations, safety operations, new firetrucks and other fire safety related projects, new police equipment, new police cars, road resurfacing, road maintenance, road ...