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 2012B, in one or more subseries, in an aggregate principal amount not to exceed $10,000,000, for the purpose of advance refunding (i) all or a portion of the outstanding principal amount of the Lexington-Fayette Urban County Government General Obligation Bonds, Series 2002C, the proceeds of which were used to finance (a) road improvements and (b) improvements to storm and surface water collection, drainage and control facilities and (ii) all or a portion of the outstanding principal amount of Lexington-Fayette Urban County Government General Obligation Bonds (Day Treatment Center, multi-use facility and expansion area boulevard projects), Series 2004C, the proceeds of which were used to finance the (a) acquisition, construction and equipping of a day treatment facility, (b) acquisition, renovation and equipping of a multi-use facility and (c) acquisition of rights of way and construction of road improvements; 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 2012B Refunding Bonds; authorizing an Escrow Trust Agreement; and repealing inconsistent Ordinances. [Dept. of Finance, Driskell]
Summary
Authorization to approve the issuance of general obligation refunding bonds, series 2012B not to exceed $10,000,000. (L494-12) (Driskell)
This is a request to approve issuance of general obligation refunding bonds, series 2012B not to exceed $10,000,000 for the purpose of retiring the series 2002C and series 2004C general obligation bonds.
Budgetary Implications: Yes
Advanc...
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