Lexington-Fayette Urban County Government - File #: 0577-23

• File #: 0577-23
• Version: 1
• Name: Airport Revenue & Refunding Bonds, 2023 Series
• Type: Ordinance
• Status: Approved
• File created: 5/23/2023
• In control: Urban County Council
• On agenda: 6/29/2023
• Final action: 6/29/2023
• Enactment date: 6/29/2023
• Enactment #: O-069-2023
• Title: Ordinance of the Council of the Lexington-Fayette Urban County Government Authorizing And approving the execution and delivery of an Eighth Supplemental Lease Agreement between the Lexington-Fayette Urban County Airport Board as the Lessor And the Lexington-Fayette Urban County Government as the Lessee relating to the issuance and sale of an amount not to exceed $110,000,000 in aggregate principal amount of Lexington-Fayette Urban County Airport Board General Airport Revenue and Revenue Refunding Bonds, 2023 Series (Lexington-Fayette Urban County Government General Obligation) for the purposes of (i) financing the costs of the 2023 Project To Be Located at the Blue Grass Airport in Fayette County, Kentucky (ii) refunding all or a portion of certain outstanding prior Bonds issued by the Board, (iii) funding a deposit to the Debt Service Reserve Fund and (iv) paying the costs of issuance in connection therewith. [Dept. of Finance, Hensley]

Date	Ver.	Action By	Action	Result
6/29/2023	1	Urban County Council
6/15/2023	1	Urban County Council
6/13/2023	1	Urban County Council Work Session	Approved and Referred to Docket	Pass

Title
Ordinance of the Council of the Lexington-Fayette Urban County Government Authorizing And approving the execution and delivery of an Eighth Supplemental Lease Agreement between the Lexington-Fayette Urban County Airport Board as the Lessor And the Lexington-Fayette Urban County Government as the Lessee relating to the issuance and sale of an amount not to exceed $110,000,000 in aggregate principal amount of Lexington-Fayette Urban County Airport Board General Airport Revenue and Revenue Refunding Bonds, 2023 Series (Lexington-Fayette Urban County Government General Obligation) for the purposes of (i) financing the costs of the 2023 Project To Be Located at the Blue Grass Airport in Fayette County, Kentucky (ii) refunding all or a portion of certain outstanding prior Bonds issued by the Board, (iii) funding a deposit to the Debt Service Reserve Fund and (iv) paying the costs of issuance in connection therewith. [Dept. of Finance, Hensley]
Summary
Authorization to approve the execution and delivery of an eighth Supplemental Lease Agreement and tenth Supplemental Trust Indenture between the Lexington-Fayette Urban County Airport Board and Lexington-Fayette Urban County Government in connection with the issuance of the Lexington-Fayette Urban County Airport Board General Airport Revenue and Refunding Bonds, 2023 Series in an amount not to exceed $110,000,000. Payments are financed with airport revenues. (L0577-23) (Hensley)
Budgetary Implications: No
Advance Document Review:
Law: Yes, Completed by David Barberie, May 23, 2023
Risk Management: No
Fully Budgeted: N/A
Account Number:
This Fiscal Year Impact: $0 (Payments are financed with Airport Revenues)
Annual Impact: $0 (Payments are financed with Airport Revenues)
Project:
Activity:
Budget Reference:
Current Balance:
Body
WHEREAS, the Lexington-Fayette Urban County Airport Board (the "Board") has determined the need to:
(a) finance the costs of the acquisition of additions, extensions...