Title
An Ordinance of Lexington-Fayette Urban County Government authorizing the issuance of Lexington-Fayette Urban County Government Various Purpose General Obligation refunding Bonds, Series 2024B, in one or more subseries, in an aggregate principal amount of $7,720,000, (which amount may be increased or decreased by an amount of up to ten percent (10%)) for the purpose of refunding all of the outstanding principal amount of Lexington-Fayette Urban County Government General Obligation Bonds Various Purpose General Obligation Refunding Bonds, Series 2014A; approving a form of bond; authorizing designated officers to execute and deliver the bonds; providing for the payment and security of the bonds; creating a bond payment fund and escrow funds; maintaining the heretofore established sinking fund; authorizing a Certificate of Award for the acceptance of the bid of the bond purchaser for the purchase of the Series 2024B Bonds; authorizing an Escrow Trust Agreement; and repealing inconsistent ordinances. [Dept. of Finance, Hensley]
Summary
Authorization to approve the Ordinance for the Sale and Issuance of the Lexington-Fayette Urban County Government General Obligation Refunding Bonds, Series 2024B in an aggregate principal amount not to exceed $7,720,000 (which may be increased by 10%), for the purpose of refunding all or a portion of the outstanding principal amount of the General Obligation Bond, Series 2014A. No budgetary impact in FY 2024. (L0216-24) (Hensley)
Budgetary Implications: Yes
Advance Document Review:
Law: Yes, Completed by David Barberie, Feb 12, 2024
Risk Management: No
Fully Budgeted: Yes
Account Number: 1101-141401-1728-78401
This Fiscal Year Impact: $0
Annual Impact: $3,000,000
Project:
Activity:
Budget Reference:
Current Balance:
Body
WHEREAS, the Lexington-Fayette Urban County Government, heretofore issued its $55,925,000 Various Purpose General Obligation Refunding Bonds, Series 2014A), currently outstanding in the princ...
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