Title
Ordinance of the Council of the Lexington-Fayette Urban County Government authorizing and approving the execution and delivery of a seventh 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 $32,000,000 in aggregate principal amount of Lexington-Fayette Urban County Airport Board General Airport Revenue and Revenue Refunding Bonds, 2019 Series A (Lexington-Fayette Urban County Government General Obligation) (Federally taxable) for the purposes of (I) financing the costs of the 2019 Project to be located at the Blue Grass Airport in Fayette County, Kentucky and (II) refunding all or a portion of certain outstanding prior bonds issued by the Board. [Dept. of Finance, O'Mara]
Summary
Authorization to approve the execution and delivery of a 7th supplemental lease agreement between the Lexington-Fayette Urban County Airport Board and LFUCG in connection with the issuance of the Lexington-Fayette Urban County Airport Board General Airport Revenue Refunding Bonds, 2019 Series A in an amount not to exceed $30,000,000. No budgetary impact. (L0980-19) (O'Mara)
Budgetary Implications: No. (The payments are financed with Airport Revenues.)
Advance Document Review:
Law: Yes, Completed by Dave Barberie, September 10, 2019
Risk Management: No
Fully Budgeted: N/A
Account Number: N/A
This Fiscal Year Impact: $0
Annual Impact: $0
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 (a) $6,770,000 General Airport Revenue Refunding Bonds, 2012 Series A (Lexington-Fayette Urban County Government General Obligation) (AMT); (b) $11,230,000 General Airport Revenue Refunding Bonds, 2012 Series B (Lexington-Fayett...
Click here for full text