Title
A Resolution approving and authorizing an Assistance Agreement between the Lexington-Fayette Urban County Government and the Ky. Infrastructure Authority to provide $6,000,000 of loan funds for Expansion Area 2A Pump Station and Force Main Project. [Dept. of Environmental Quality and Public Works, Martin]
Summary
Authorization to execute Assistance Agreement with Kentucky Infrastructure Authority for a low-interest (1.75%) loan related to the Expansion Area 2A Pump Station and Force Main Project. (L1277-13) (Martin)
This is a request to execute Assistance Agreement with Kentucky Infrastructure Authority for a $6,000,000 low-interest (1.75%) loan related to the Expansion Area 2A Pump Station and Force Main Project.
Budgetary Implications: YES
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") 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; 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 hereto and incorporated herein by reference, substantially in the form on file with the Governmental A...
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