Title
An Ordinance of Lexington-Fayette Urban County Government (I) authorizing the Issuance and Sale of Sewer System Revenue and Revenue Refunding Bonds, Series 2019, in one or more subseries, in an aggregate principal amount of $65,000,000 (which amount May be increased by an amount of up to ten percent (10%) or decreased by an unlimited amount), for the purpose of financing certain improvements to the sewer system, (II) authorizing the Issuance and Sale of Sewer System Revenue Refunding Bonds, Series 2019 for the purpose of currently refunding a loan with the Ky. Infrastructure Authority pursuant to an Assistance Agreement by and between the Ky. Infrastructure Authority and the Lexington-Fayette Urban County Government dated as of April 1, 2010, (III) funding the reserve account, (if any), and (IV) paying the costs of issuance of the Series 2019 Bonds; approving a form of the Series 2019 Bonds; authorizing the execution of a second Supplemental Trust Agreement (to secure such Series 2019 Bonds); authorizing the preparation and distribution of a Preliminary and Final Official Statement; authorizing the execution of a Certificate of Award for the acceptance of the bid of the purchaser(s) for the purchase of the Series 2019 Bonds; and authorizing the execution of additional documents, agreements and certificates necessary to effectuate the issuance of the Series 2019 Bonds. [Div. of Finance, O'Mara]
Summary
Authorization to approve the Ordinance for the Sale and Issuance of the Lexington-Fayette Urban County Government Sewer System Revenue and Refunding Bonds 2019A in an aggregate principle amount of $65,000,000 (which May increase by an amount of up to 10%). [L0974-19] (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: 4002-141401-1869-78401
This Fiscal Year Impact: $2,904,082.78
Annual Impact: $4,334,650 annually for 20 years
Project:
Ac...
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