Lexington-Fayette Urban County Government - File #: 1030-15

• File #: 1030-15
• Version: 1
• Name: Ordinance authorizing the issuance and sale of the FY2016 GO and 2015B CIP Bonds
• Type: Ordinance
• Status: Approved
• File created: 8/13/2015
• In control: Urban County Council
• On agenda: 9/10/2015
• Final action: 9/10/2015
• Enactment date: 9/10/2015
• Enactment #: O-103-2015
• Title: An Ordinance of the Lexington-Fayette Urban County Government authorizing the issuance of its Various Purpose General Obligation Bonds, Series 2015B, in one or more subseries, in an aggregate principal amount not to exceed $33,000,000; approving a form of Series 2015B Bonds; authorizing designated officers to execute and deliver the Series 2015B Bonds; authorizing and directing the filing of notice with the state local debt officer; providing for the payment and security of the Series 2015B Bonds; creating a Sinking Fund; creating a Bond Payment Fund for the Series 2015B Bonds; authorizing acceptance of the bid(s) of the bond purchaser of the Series 2015B Bonds; and repealing inconsistent ordinances. [Office of the Chief Administrative Officer, Hamilton]

Date	Ver.	Action By	Action	Result
9/10/2015	1	Urban County Council	Approved	Pass
8/27/2015	1	Urban County Council	Received First Reading
8/25/2015	1	Urban County Council Work Session	Approved and Referred to Docket	Pass

Title
An Ordinance of the Lexington-Fayette Urban County Government authorizing the issuance of its Various Purpose General Obligation Bonds, Series 2015B, in one or more subseries, in an aggregate principal amount not to exceed $33,000,000; approving a form of Series 2015B Bonds; authorizing designated officers to execute and deliver the Series 2015B Bonds; authorizing and directing the filing of notice with the state local debt officer; providing for the payment and security of the Series 2015B Bonds; creating a Sinking Fund; creating a Bond Payment Fund for the Series 2015B Bonds; authorizing acceptance of the bid(s) of the bond purchaser of the Series 2015B Bonds; and repealing inconsistent ordinances. [Office of the Chief Administrative Officer, Hamilton]
Summary
Authorization for the issue and sale of the Lexington- Fayette Urban County Government Various Purpose General Obligation Bonds, Series 2015B in an aggregate principal amount not to exceed $33,000,000. The Finance Department requires the issuance of this bond pack for the capital improvement plan. The cost for this item will be $500,000 in debt service. The funds are budgeted. (L01030-15)(Hamilton)
Budgetary Implications [select]: Yes
Advance Document Review:
Law: { Select Yes, Completed by [Attorney Name, Date]}
Risk Management: {Select No}
Fully Budgeted [select]: Yes
Account Number: 1101-141401-1680-78401
This Fiscal Year Impact: $500,000
Annual Impact:
Project:
Activity:
Budget Reference:
Current Balance: $2,396,290
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) software system upgrades, safety operations center and other safety related projects, road resurfacing, road maintenance, road upgrades and street scapes, renovations, repairs and upgrades related to p...