Title
An Ordinance of the Lexington-Fayette Urban County Government authorizing the issuance of its Tax-Exempt Various Purpose General Obligation Bonds, Series 2016B in an aggregate principal amount of $10,000,000 (which amount may be increased by an amount of up to ten percent (10%)); approving a form of Series 2016B Bonds; authorizing designated officers to execute and deliver the Series 2016B Bonds; authorizing and directing the filing of notice with the State Local Debt Officer; providing for the payment and security of the series 2016B bonds; creating a Sinking Fund; creating a Bond Payment Fund for the Series 2016B Bonds; authorizing acceptance of the bid(s) of the bond purchaser of the Series 2016B Bonds; and repealing inconsistent ordinances. [Dept. of Finance, O'Mara]
Summary
Authorization for an Ordinance for issuance and sale of the FY2016 GO 2016B Various Purpose Project Bonds in the amount of $10,000,000.00 as part of the FY2016 Budget. The cost for future Fiscal Year is $680,000.00 yearly for twenty years. Funds are Budgeted. (L0507-16) (O'Mara)
Budgetary Implications [select]: Yes
Advance Document Review:
Law: {Yes- Completed by [Attorney Name, Date}
Risk Management: {No - Completed by [Official, Date]}
Fully Budgeted [select]: Included in FY 2017 Mayor's Proposed Budget
Account Number: 1101-141401-1890-78401
This Fiscal Year Impact: N/A
Annual Impact: $680,000 yearly for 20 years
Project:
Activity:
Budget Reference:
Current Balance: Included in FY 2017 Mayor's Proposed Budget
Body
WHEREAS, the Lexington-Fayette Urban County Government, has previously determined the necessity of financing (i) the design and infrastructure improvements for Town Branch Commons Corridor an innovative multimodal greenway that will link two regional trail systems, the Legacy Trail and Town Branch Trail, and through its unique linear park-like design and stormwater management systems, TBCC will create a livable, sustainable streetscape ...
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