Title
An Ordinance of the Lexington-Fayette Urban County Government authorizing the issuance of Various Purpose General Obligation Notes, Series 2012C in the aggregate principal amount of $3,600,000 (which amount may be increased or decreased by an amount of up to ten percent (10%)) for the purpose of financing various projects of the Lexington-Fayette Urban County Government; approving the form of the Series 2012C Notes; authorizing designated officers to execute and deliver the Series 2012C Notes; authorizing and directing the filing of notice with the State Local Debt Officer; providing for the payment and security of the Series 2012C Notes; creating Note Payment Fund; maintaining the heretofore established sinking fund; authorizing a Certificate of Award for the acceptance of the bid of the note purchaser for the purchase of the Series 2012C Notes; and repealing inconsistent ordinances. [Dept. of Finance, Driskell]
Summary
Authorization to issue Series 2012C General Obligation Notes for capital projects as approved in the FY2013 budget. (L873-12) (Driskell)
This is a request to issue Series 2012C General Obligation Notes in the principal amount of $3,600,000 for capital projects as approved in the FY2013 budget. 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 Urba...
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