Title
A Resolution approving and authorizing a Supplemental Assistance Agreement between the Lexington-Fayette Urban County Government and the Ky. Infrastructure Authority to provide an additional $15,811,809 in loan funds for Phase 2 of the West Hickman Wet Weather Storage Tanks Project. [Div. of Water Quality, Martin]
Summary
Authorization to approve a Supplemental Assistance Agreement between the Lexington-Fayette Urban County Government and the Kentucky Infrastructure Authority to provide an additional $15,811,809.00 in loan funds for Phase 2 of the West Hickman Wet Weather Storage Tanks Project. (L0245-21) (Martin/Albright)
Budgetary Implications [select]: Yes
Advance Document Review:
Law: { Yes, Completed by [Michael Cravens, 2/26/21]}
Risk Management: {No}
Fully Budgeted [select]: Partial
Account Number: 4003-303408-3466-92811
This Fiscal Year Impact: $15,811,809.00
Annual Impact: $
Project:
Activity:
Budget Reference:
Current Balance: $62,988,347.22
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" or "Projects") and
WHEREAS, the Governmental Agency made an 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 entered into an Assistance Agreement dated as of September 1, 2016 with the Authority; and
WHEREAS, in order to obtain additional monies for the Project, the Governmental Agency entered into a First Supplemental Assistance Agreement dated as of May 1, 2018 with the Authority; and
WHEREAS, since the dates of the Assistance Agreement and the First Supplemental Assistance Agreement, the Authority has a...
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