Lexington-Fayette Urban County Government - File #: 0930-13

• File #: 0930-13
• Version: 1
• Name: General Obligation Bonds - Series 2013C
• Type: Ordinance
• Status: Approved
• File created: 8/22/2013
• In control: Urban County Council
• On agenda: 9/12/2013
• Final action: 9/12/2013
• Enactment date: 9/12/2013
• Enactment #: O-107-2013
• Title: An Ordinance of the Lexington-Fayette Urban County Government authorizing the issuance of Various Purpose General Obligation Bonds, Series 2013C in the aggregate principal amount not to exceed $18,250,000; approving the form of the Series 2013C Bonds; authorizing designated officers to execute and deliver the Series 2013C Bonds; authorizing and directing the filing of notice with the State Local Debt Officer; providing for the payment and security of the Series 2013C Bonds; creating Bond Payment 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 2013C Bonds; and repealing inconsistent ordinances. [Dept. of Finance, O'Mara]

Date	Ver.	Action By	Action	Result
9/12/2013	1	Urban County Council	Approved	Pass
8/29/2013	1	Urban County Council	Received First Reading
8/27/2013	1	Urban County Council Work Session	Approved and Referred to Docket	Pass

Title
An Ordinance of the Lexington-Fayette Urban County Government authorizing the issuance of Various Purpose General Obligation Bonds, Series 2013C in the aggregate principal amount not to exceed $18,250,000; approving the form of the Series 2013C Bonds; authorizing designated officers to execute and deliver the Series 2013C Bonds; authorizing and directing the filing of notice with the State Local Debt Officer; providing for the payment and security of the Series 2013C Bonds; creating Bond Payment 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 2013C Bonds; and repealing inconsistent ordinances. [Dept. of Finance, O'Mara]
Summary
Resolution and Ordinance to authorize the advertisement and issuance of General Obligation Bonds Series 2013C not to exceed $18,250,000.00 for the purpose of financing the Capital Improvement Projects approved in the FY 2014 Budget. The Ordinance for the 2013C Bond issue contains language to allow the Department of Finance the discretion to go to market in order to take advantage of favorable market conditions.
Budgetary Implications: Yes
Advance Document Review: Law
Fully Budgeted: Yes
Account Number: 1101-141401-1680-78401
This Fiscal Year Impact: $ 400,000
Annual Impact: $ 1,200,000.00
Project:
Activity:
Budget Reference: 2014
Current Balance: $ 696,220.00
Body
WHEREAS, the Lexington-Fayette Urban County Government has previously determined the necessity of (i) financing the acquisition of various equipment for departments within the Lexington-Fayette Urban County Government, including, but not limited to, communications and computer equipment and other equipment, traffic engineering equipment, police and fire equipment, police and fire vehicles, and golf carts; (ii) financing various projects for departments within the Lexington-Fayette Urban County Government, including, bu...