Title
An Ordinance of the Lexington-Fayette Urban County Government authorizing the issuance of its various purpose General Obligation Bonds, Series 2023A, in one or more subseries, in an aggregate principal amount of $38,500,000 (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 2023A Bonds; authorizing designated Officers to execute and deliver the Series 2023A Bonds; authorizing and directing the filing of notice with the State Local Debt Officer; providing for the payment and security of the series 2023A bonds; maintaining a Sinking Fund; creating a Bond Payment Fund for the Series 2023A bonds; authorizing acceptance of the bid(s) of the Bond Purchaser of the Series 2023A bonds; and repealing inconsistent Ordinances. [Dept. of Finance, Hensley]
Summary
Authorization to approve the Sale and Issuance of the Lexington-Fayette Urban County Government Various Purpose General Obligation, Series 2023A in an aggregate principal amount not to exceed $38,500,000 (which May be increased by 10%). Funds are Budgeted. (L0655-23) (Hensley)
Budgetary Implications: Yes
Advance Document Review:
Law: Yes, Completed by David Barberie, June 14, 2023
Risk Management: No
Fully Budgeted: Yes
Account Number: 1101-141401-1680-78402
This Fiscal Year Impact: $4,664,000 in Debt Service
Annual Impact: $3,200,000 yearly Debt Service for 10 years
Project:
Activity:
Budget Reference:
Current Balance:
Body
WHEREOF, the Lexington-Fayette Urban County Government has caused this Series 2023A Bond to be signed either manually or by facsimile in its name by its Mayor and duly attested either manually or by facsimile by its Urban County Council Clerk and an impression or facsimile of the Lexington-Fayette Urban County Government's seal to be imprinted hereon, as of the date set forth above.
LEXINGTON-FAYETTE URBAN COUNTY GOVERNMENT
By:
Linda Gorton
Mayor
(SEAL)
Attest:
By:
Abigail Allan
Clerk of the Urban County Council
CERTIFICATE OF AUTHENTICATION
This is to certify that this Series 2023A Bond is one of the Series 2023A Bonds described hereinabove.
_______________________________________ __________________,
___________, ____________
By:
Name:
Title:
Date of Authentication: _____________
Unless this certificate is presented by an authorized representative of The Depository Trust Company to the Issuer or its agent for registration of transfer, exchange or payment, and any certificate issued is registered in the name of CEDE & Co or such other name as requested by an authorized representative of The Depository Trust Company and any payment is made to CEDE & Co, ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL since the registered owner hereof, CEDE & Co, has an interest herein.
CERTIFICATE
It is hereby certified that the following is a correct and complete copy of the text of the legal opinion of Dinsmore & Shohl LLP, Attorneys, Lexington, Kentucky, regarding the issue of which the within Series 2023A Bond is one, the original of which opinion was manually executed, dated and issued as of the date of delivery of and payment for said issue and a copy of which is on file with the undersigned.
Urban County Council Clerk
[INSERT FORM OF APPROVING OPINION]
ASSIGNMENT
FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto:
(please print or typewrite social security number or other identifying number and name and address of transferee)
the within Series 2023A Bond and does hereby irrevocably constitute and appoint ________________________________________ or its successor as Paying Agent and Registrar to transfer the said Series 2023A Bond on the books kept for registration thereof with full power of substitution in the premises.
Dated: _________
Notice: The signature to this assignment must correspond with the name of the registered owner as it appears upon the face of the within Series 2023A Bond in every particular, without alteration or enlargement or any change whatever.