Title
An Ordinance of the Lexington-Fayette Urban County Government authorizing the issuance of its Various Purpose General Obligation Bonds, Series 2020, in one or more subseries, in an aggregate principal amount of $8,000,000 (which amount may be increased by an amount of up to ten percent (10%) or decreased by an unlimited amount); approving a form of Series 2020 Bonds; authorizing designated officers to execute and deliver the Series 2020 Bonds; authorizing and directing the filing of notice with the State Local Debt Officer; providing for the payment and security of the Series 2020 Bonds; creating a Sinking Fund; creating a Bond Payment Fund for the Series 2020 Bonds; authorizing acceptance of the bid(s) of the bond purchaser of the Series 2020 Bonds; and repealing inconsistent Ordinances. [Dept. of Finance, O'Mara]
Summary
Authorization to approve the Sale and Issuance of the Lexington-Fayette Urban County Government Various Purpose General Obligation, Series 2020A in an aggregate Principle amount not to exceed $8,000,000 (which may be increased by 10%). FY2021 budgetary impact is $160,000. Funds are budgeted. (L0743-20) (O'Mara)
Budgetary Implications: Yes
Advance Document Review:
Law: Yes, Completed by Evan Thompson, 08/03/20.
Risk Management: No
Fully Budgeted: Yes
Account Number: 1101-141401-1680-78402
This Fiscal Year Impact: $160,000.00
Annual Impact: $870,000.00 annually for 10 years
Project:
Activity:
Budget Reference:
Current Balance: $160,000
Body
WHEREAS, the Lexington-Fayette Urban County Government has previously determined the necessity of financing the acquisition of various projects for departments within the Lexington-Fayette Urban County Government, including, but not limited to new police equipment, new police cars, road resurfacing, road maintenance, road upgrades, streetscapes and sidewalk improvements, renovations, repairs and upgrades related to public buildings and various other improvements within departments of the Lexi...
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