Title
Ordinance of the Council of the Lexington-Fayette Urban County Government authorizing and approving the execution of a Ninth Supplemental Lease Agreement between the Lexington-Fayette Urban County Airport Board as the Lessor and the Lexington-Fayette Urban County Government as the Lessee in connection with the issuance of the Lexington-Fayette Urban County Airport Board General Airport Revenue Obligation, 2023 Series A (credit note) (Lexington- Fayette Urban County Government General Obligation), evidencing a Line of Credit Agreement by and between the Lexington-Fayette Urban County Airport Board and Pinnacle Bank in a maximum aggregate principal amount not to exceed $16,000,000, for the purpose of providing interim financing for certain airport facilities at the Blue Grass Airport in Fayette County, Kentucky. [Dept. of Finance, Hensley]
Summary
Authorization to approve the Ordinance authorizing and approving the execution of a 9th Supplemental Lease Agreement between LFUCG and Lexington-Fayette Urban County Airport Board in connection with the issuance of the Series 2023A Credit Note between Lexington-Fayette Urban County Airport Board and Pinnacle Bank. No budgetary impact. (L1147-23) (Hensley)
Budgetary Implications: No
Advance Document Review:
Law: Yes, Completed by David Barberie, November 2, 2023
Risk Management: No
Fully Budgeted: N/A
Account Number: N/A
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") seeks to provide interim financing for (a) runway rehabilitation and safety modifications projects, initial safety coordination, preliminary design and development; (b) terminal improvements including but not limited to restroom facilities and baggage conveyors, expansion of passenger and baggage screening facilities...
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