Title
A Resolution of the Lexington-Fayette Urban County Government authorizing the advertisement for bids and the distribution of a Preliminary Official Statement for the purchase of the principal amount of its Various Purpose General Obligation Refunding Bonds, Series 2023B in a principal amount not to exceed $75,000,000. [Dept. of Finance, Hensley]
Summary
Authorization to approve advertisement for bids and the distribution of a Preliminary Official Statement for the purchase of the principal amount of the Various Purpose General Obligation Refunding Bonds, Series 2023B in a principal amount not to exceed $75,000,000. Funds are Budgeted. (L0658-23) (Hensley)
Budgetary Implications: No
Advance Document Review:
Law: Yes, Completed by David Barberie, June 14, 2023
Risk Management: No
Fully Budgeted: Cost is included in the Issuance of the Bonds per the Ordinance authorizing the sale of the bonds.
Account Number: 1101-141401-1680-78401
This Fiscal Year Impact: Cost is included in the Issuance of the Bonds per the Ordinance authorizing the sale of the bonds.
Annual Impact: $0
Project:
Activity:
Budget Reference:
Current Balance:
Body
WHEREAS, the Lexington-Fayette Urban County Government, heretofore issued certain general obligation bonds, including, but not limited to, those listed on Exhibit A hereto, which were authorized and issued pursuant to the respective Ordinances and for the respective purposes set forth therein (collectively, the "Prior Bonds"); and
WHEREAS, the Lexington-Fayette Urban County Government has determined that due to the present conditions of the municipal market it is advantageous and in the best interests of the Lexington-Fayette Urban County Government for the purpose of realizing interest cost savings (as determined by the Commissioner of Finance) to proceed with the advertisement of bids for the purchase of its Various Purpose General Obligation Refunding Bonds, Series 2023B (the "Series 2023B Bonds") in one or more subs...
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