Title
An Ordinance of the Lexington-Fayette Urban County Government authorizing the issuance of Various Purpose General Obligation Bonds, Series 2013A in the aggregate principal amount not to exceed $14,000,000 for the purpose of financing various street and highway improvements including the rehabilitation and paving of existing roads and streets in Lexington, Fayette County, Ky.; approving the form of the Series 2013A Bonds; authorizing designated officers to execute and deliver the Series 2013A Bonds; authorizing and directing the filing of notice with the State Local Debt Officer; providing for the payment and security of the Series 2013A Bonds; creating Bond Payment Funds; maintaining the heretofore established Sinking Fund; authorizing a Certificate of Award for the acceptance of the bid of the Bond Purchaser for the purchase of the Series 2013A Bonds; and repealing inconsistent ordinances. [Council Office, Maynard]
Body
WHEREAS, the Lexington-Fayette Urban County Government has previously determined the necessity of financing various street and highway improvements including the rehabilitation and paving of existing roads and streets throughout Lexington, Fayette County, Kentucky (collectively, the "Project"); and
WHEREAS, the Lexington-Fayette Urban County Government has determined that it is in the best interests of the Lexington-Fayette Urban County Government that the Project be financed through the issuance by the Lexington-Fayette Urban County Government of its Various Purpose General Obligation Bonds, Series 2013A in the principal amount not to exceed $14,000,000 (the "Series 2013A Bonds"); and
WHEREAS, pursuant to the Constitution and laws of the Commonwealth of Kentucky, and particularly KRS 66.011 et. seq. (the "Act"), an urban county government may issue bonds, subject to the requirements of the Act, to pay all or any portion of the costs of the Project; and
WHEREAS, the Lexington-Fayette Urban County Government desires to finance the Project ...
Click here for full text