Title
A Resolution of the Lexington-Fayette Urban County Government authorizing the advertisement for bids and the distribution of a Preliminary Official Statement for the purchase of the principal amount of its $3,600,000 Various Purpose General Obligation Notes, Series 2012C (which amount may be increased or decreased by an amount of up to ten percent (10%). [Dept. of Finance, Driskell]
Summary
Authorization to advertise for bids for the purchase of Series 2012C General Obligation Notes. (L872-12) (Driskell)
This is a request to advertise for bids for the purchase of Series 2012C General Obligation Notes for $3,600,000. Amounts may be increased or decreased by an amount up to ten percent (10%). Funds are budgeted.
Budgetary Implications: Yes
Advance Document Review: Law
Fully Budgeted: Yes
Account Number: 11101-141401-1680-78401
This Fiscal Year Impact: $ 700,000
Annual Impact:
Project:
Activity:
Budget Reference:
Current Balance: $4,100,000 for all new debt
Body
WHEREAS, the Lexington-Fayette Urban County Government has previously determined the necessity of financing the construction, acquisition and installation of various projects including but not limited to street and sidewalk improvements, safety equipment, various park and recreation improvements and other equipment and vehicles for the benefit of numerous departments of the Lexington-Fayette Urban County Government (collectively, the "Project"); and
WHEREAS, the Lexington-Fayette Urban County Government has determined to proceed with the advertisement of bids for the purchase of its Various Purpose General Obligation Notes, Series 2012C (the "Series 2012C Notes") in the principal amount of $3,600,000 (which amount may be increased or decreased by an amount of up to ten percent (10%)), in order to provide funds to (i) pay the costs of constructing, acquiring, installing and equipping the Project and (ii) pay the costs of issuing the Series 2012C Notes.
NOW THEREFORE, BE IT RESOLVED BY THE...
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