Title
An Ordinance of the Lexington-Fayette Urban County Government authorizing the issuance of its Taxable General Obligation Bonds, series 2016A (Historic Courthouse Project), in an aggregate principal amount of $22,000,000 (which amount may be increased or decreased by an amount of up to ten percent (10%)); approving a form of Series 2016A Bonds; authorizing designated officers to execute and deliver the Series 2016A Bonds; authorizing and directing the filing of notice with the State Local Debt Officer; providing for the payment and security of the Series 2016A Bonds; creating a Sinking Fund; creating a Bond Payment Fund for the Series 2016A Bonds; authorizing acceptance of the bids of the bond purchaser of the Series 2016A Bonds; and repealing inconsistent ordinances. [Dept. of Finance, O'Mara]
Summary
Authorization for the issuance and sale of the FY 2016 GO 2016A Historic Courthouse Project Bond Issue. No budgetary impact this Fiscal Year. The cost for future Fiscal Year is $1,500,000.00 for twenty years. (L0506-16) (O'Mara)
Budgetary Implications [select]: Yes - FY 2017
Advance Document Review:
Law: {Yes - Completed by [Attorney Name, Date]}
Risk Management: {No}
Fully Budgeted [select]: Yes
Account Number: 1101-141401-1889-78401 (FY 2017 Mayor's Proposed Budget)
This Fiscal Year Impact: N/A
Annual Impact: $1,500,000 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 it to be in the public interest to restore, rehabilitate and adaptively re-use the historic Fayette County Courthouse (the "Historic Courthouse Project") located at 215 West Main Street in downtown Lexington, Fayette County, Kentucky which Historic Courthouse Project will help preserve the history and architecture of Lexington and Fayette County, enhance the economic development of downtown Lexington, assist ...
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