Title
An Ordinance of Lexington-Fayette Urban County Government authorizing The Issuance of Lexington-Fayette Urban County Government various purpose General Obligation Refunding Bonds, in one or more subseries, for the purpose of refunding all or a portion of certain outstanding General Obligation Bonds of the Lexington-Fayette Urban County Government including, but not limited to, the outstanding General Obligation Bonds listed on Exhibit A hereto; approving a form of Bond; authorizing designated officers to execute and deliver the Bonds; authorizing the Lexington-Fayette Urban County Government to provide for the defeasance of certain outstanding prior Bonds with monies available for such purpose; providing for the payment and security of the Bonds; creating a Bond Payment Fund and Escrow Funds; maintaining the heretofore established Sinking Fund; authorizing a Certificate of Award for the acceptance of the bid of the Bond purchaser for the purchase of the Refunding Obligations; authorizing an Escrow Trust Agreement; and repealing inconsistent Ordinances. [Dept. of Finance, Hensley]
Summary
Authorization to approve an Ordinance for the Sale and Issuance of the Lexington-Fayette Urban County Government Various Purpose Taxable or Tax Exempt General Obligation Refunding Bonds in one or more subseries and to provide the option for defeasance of certain outstanding bonds. (L0661-21) (Simpson/Hensley)
Budgetary Implications: Yes
Advance Document Review:
Law: Yes, Completed by Dave Barberie, June 21, 2021
Risk Management: N/A
Fully Budgeted: Yes
Account Number: 1101-141401-1728-78401
This Fiscal Year Impact: $0
Annual Impact: $3,200,000 (FY2023)
Project:
Activity:
Budget Reference:
Current Balance:
Body
WHEREAS, the Lexington-Fayette Urban County Government, heretofore issued certain general obligation bonds, including, but not limited to, those listed on Exhibit A hereto, which were authorized and issued pursuant to the respective Ordinances and for th...
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