Title
An Ordinance of the Lexington-Fayette Urban County Government, authorizing the issuance of up to $14,550,000 principal amount of Lexington-Fayette Urban County Government Industrial Building Revenue Bonds, Series 2014 (Transylvania University Project), the proceeds of which shall be loaned to Transylvania University to finance the costs of constructing and equipping two new student dormitories to be located at 416 W. 4th St., Lexington, Kentucky 40508, which facilities are to be owned and utilized by the University in furtherance of the educational purposes of the University; providing for the pledge of revenues for the payment of such Bonds; authorizing a Loan Agreement appropriate for the protection and disposition of such revenues and to further secure such Bonds; authorizing a Bond Purchase Agreement and Tax Regulatory Agreement; and authorizing other actions in connection with the issuance of such Bonds. [Mayor's Office, Atkins] (Public Hearing)
Summary
Authorization to adopt an ordinance issuing Industrial Revenue Bonds in the approximate principal amount of $14,550,000 to finance construction of two new student dormitories on the campus of Transylvania University. (L0819-14)(Atkins)
This is a request to adopt an ordinance issuing Industrial Revenue Bonds in the approximate principal amount of $14,550,000 to finance construction of two new student dormitories on the campus of Transylvania University. There is no fiscal impact or liability for repayment for LFUCG.
Budgetary Implications: No
Advance Document Review: Law/Risk Management
Fully Budgeted: No
Account Number:
This Fiscal Year Impact: $
Annual Impact: $
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Activity:
Budget Reference:
Current Balance:
Body
WHEREAS, the Lexington-Fayette Urban County Government (the "Issuer"), by virtue of the laws of the Commonwealth of Kentucky, including Chapter 103 of the Kentucky Revised Statutes, is authorized and empowered among other things: (a) to make a loan to ...
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