Title
A Resolution of the Lexington-Fayette Urban County Government authorizing the advertisement for Bids and the distribution of a Preliminary Official Statement for the purchase of the principal amount of its Sewer System Refunding Revenue Bonds, Series 2013E, in an amount not to exceed $35,000,000. [Dept. of Finance, O'Mara]
Body
WHEREAS, the Lexington-Fayette Urban County Government, heretofore issued its Lexington-Fayette Urban County Government Taxable Sewer System Revenue Bonds, Series 2009 (Build America Bonds - Direct Pay), dated October 22, 2009, originally issued in the principal amount of $35,960,000 (the "Series 2009 Bonds"), authorized by Ordinance No. 221-2009, enacted by the Lexington-Fayette Urban County Council on October 15, 2009, authorizing the issuance of the Series 2009 Bonds for the purpose of financing certain improvements to the System and paying costs of issuance with respect to such Series 2009 Bonds; and
WHEREAS, the Lexington-Fayette Urban County Government has determined that due to the present conditions of the municipal market it is advantageous and in the best interests of the Lexington-Fayette Urban County Government for the purpose of realizing interest cost savings (as determined by the Commissioner of Finance) to proceed with the advertisement of bids for the purchase of its Lexington-Fayette Urban County Government Sewer System Refunding Revenue Bonds, Series 2013E (the "Series 2013E Bonds") in one or more subseries, in a principal amount not to exceed $35,000,000, in order to provide funds to (i) refund all or a portion of the Series 2009 Bonds and (ii) pay the costs of issuing the Series 2013E Bonds; and
NOW THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE LEXINGTON-FAYETTE URBAN COUNTY GOVERNMENT (THE "URBAN COUNTY COUNCIL"):
SECTION 1. The Lexington-Fayette Urban County Government, an urban county government and political subdivision of the Commonwealth of Kentucky, shall issue its Series 2...
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