Title
A Resolution approving and authorizing an Assistance Agreement between the Lexington-Fayette Urban County Government and the Ky. Infrastructure Authority to provide $13,674,302 of loan funds for the Bundle 2 - Trunk Sewer Replacement and Wet Weather Equalization Tank Projects. [Div. of Water Quality, Martin]
Summary
Authorization to execute an Assistance Agreement with Kentucky Infrastructure Authority for a low-interest (1.75%) loan related to the Bundle 2 - Trunk Sewer Replacement and Wet Weather Equalization Tank Projects. (L0114-14) (Martin)
This is a request to execute an Assistance Agreement with Kentucky Infrastructure Authority for a low-interest (1.75%) loan in the amount of $13,674,302 related to the Bundle 2 - Trunk Sewer Replacement and Wet Weather Equalization Tank Projects.
Budgetary Implications: NO
Advance Document Review: Law/Risk Management
Fully Budgeted:
Account Number:
This Fiscal Year Impact: $0.00
Annual Impact: $0.00
Project:
Activity:
Budget Reference:
Current Balance: $ N/A
Body
WHEREAS, the Urban County Council ("Governing Authority") of the Lexington-Fayette Urban County Government, ("Governmental Agency") has previously determined that it is in the public interest to acquire and construct certain facilities and improvements to the Governmental Agency's Wastewater System (the "Project" or "Projects") and
WHEREAS, the Governmental Agency has made application to the Kentucky Infrastructure Authority (the "Authority") for the purpose of providing monies to construct the Project or Projects; and
WHEREAS, in order to obtain such monies, the Governmental Agency is required to enter into an Assistance Agreement with the Authority;
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE LEXINGTON-FAYETTE URBAN COUNTY GOVERNMENT:
Section 1 - That the Governing Authority hereby approves and authorizes the Assistance Agreement between the Governmental Agency and the Authority, attached h...
Click here for full text