Title
An Ordinance of the Lexington-Fayette Urban County Government authorizing the issuance of its Various Purpose General Obligation Bonds, Series 2022B, in one or more subseries, in an aggregate principal amount of $44,500,000 (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 2022B bonds; authorizing designated officers to execute and deliver the Series 2022B bonds; authorizing and directing the filing of notice with the State Local Debt Officer; providing for the payment and security of the Series 2022B bonds; creating a Sinking Fund; creating a bond payment fund for the Series 2022B bonds; authorizing acceptance of the bid(s) of the Bond Purchaser of the Series 2022B bonds; and repealing inconsistent Ordinances. [Dept. of Finance, Hensley]
Summary
Authorization to approve the Sale and Issuance of the Lexington-Fayette Urban County Government Various Purpose General Obligation, Series 2022B in an aggregate principal amount not to exceed $44,500,000 (which May be increased by 10%), for a cost of $4,600,000 in FY2023. Funds are Budgeted. (L0658-22) (Hensley)
Budgetary Implications: Yes
Advance Document Review:
Law: Yes, Completed by David Barberie, June 16, 2022
Risk Management: No
Fully Budgeted: Yes
Account Number: 1101-141401-1680-78402
This Fiscal Year Impact: $4,600,000
Annual Impact: $4,600,000
Project:
Activity:
Budget Reference:
Current Balance: $5,041,228
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 (i) roof repair and replacement at the detention center, new firetrucks and other fire safety related projects, new police cars, road construction and improvements, road resurfacing, road maintenance, road upgrades, streetscapes and sidewalk improvements, ...
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