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From YouTube: Capital Projects and Bond Oversight Committee (9-23-21)
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A
Okay,
we'll
go
ahead
and
call
the
september
meeting
of
the
capital
projects
and
bond
oversight
committee
meeting
to
session
and
we
do
have
a
quorum.
So
we
can
go
ahead
and
do
the
business
that
we're
here
to
do
and
we'll
go
ahead
and
ask
for
a
roll
call
of
votes,
not
votes,
but
attendees.
C
A
All
right,
we
can
go
ahead
and
if
someone
will
make
a
motion
to
approve
the
minutes
from
the
august
25th
meeting
so
moved.
C
A
All
right
and
now
information
items,
corey.
D
We
have
one
information
item
this
month,
pursuant
to
krs-45812
subsection
one,
the
estill
county
school
district
reported
an
estimated
1.36
million
dollar
refunding
of
series
2013
debt.
In
addition,
the
jefferson
county
school
district
reported
a
91.42
million
dollar
debt
issue
to
construct
a
new
middle
school
and
the
kenton
county
school
district
reported
a
30.2
million
dollar
debt
issue
for
renovations
at
four
of
their
middle
schools.
A
You
corey
okay,
we'll
go
ahead
and
have
our
speakers
we
do
have
an
action
item.
Jeff
spoker
is
with
us
remotely
and
he's
with
the
university
of
louisville
good.
C
Afternoon,
oh
thank
you
good
afternoon.
The
university
of
louisville
athletic
association
today
is
seeking
approval
for
an
authorization
increase
of
4
million
for
our
new
dormitory
enhancement
project.
We
currently
have
about
2
million
authorized
in
the
2021
capital
plan,
so
this
request
would
bump
the
total
authorization
to
6
million
this
necessary.
This
increase
is
necessary
due
to
changes
in
scope
and
increases
in
material
costs.
C
We
do
anticipate
with
this
increase.
We
will
be
able
to
open
our
dorm
roughly
a
year
from
august
there.
Any
questions.
A
Okay,
I'm
not
seeing
any
all
right
jeff!
Well,
thank
you
for
that
presentation,
we'll
go
ahead
and
ask
for
a
roll
call
vote.
C
E
C
A
Yes
right,
thank
you
so
much
all
right.
Next,
we've
got
a
project
report
from
the
finance
and
administration
cabinet
and
I
believe
kevin
cardwell
is
with
us
remotely
and
there
is
one
action
item
and
then
a
couple
of
information
items
so
kevin.
Are
you
with
us?
Yes,
sir?
I'm
here
all
right.
E
E
As
co-chair
mentioned,
I've
got
a
couple
of
items
today
to
report,
one
which
does
require
action
and
the
others
are
informational
items
so
I'll
start
with,
and
then
we
also
have
people
here
today
applicable
staff
available
to
assist
any
questions
that
I
may
not
be
able
to
answer
the
committee
might
have.
E
So
we
have
a
new
informational
technology
system
project.
Today,
it's
a
federally
funded
project,
education,
workforce
development,
cabinet,
kentucky
education,
television,
the
next
gen
conversion
project
in
the
amount
of
11.5
million
dollars.
As
I
mentioned,
this
project
is
100
federally
funded
from
the
american
rescue
plan
elementary
and
secondary
school
emergency
relief
funds
project
is
going
to
be
updating
and
replacing
end
of
life
and
sailing
equipment
to
bring
ket's
broadcast
and
production
equipment
up
to
the
new
industry
standard.
This
will
allow
ket
to
continue
to
produce
and
distribute
instructional
and
professional
development
resources.
C
C
A
A
E
All
right,
thank
you,
sir
I'll
go
ahead
and
roll
through
those.
We
have
some
pool
projects
in
excess
of
a
million
dollars
that
I
need
to
report
on
as
well.
Today,
the
justice
and
public
safety
cabinet,
the
department
of
criminal
justice,
training,
the
swindeman
thompson
hvac
and
building
systems
projects,
and
the
amount
of
1
million
535
thousand
five
hundred
dollars
funded
from
a
restricted
fund
maintenance
pool
project
is
an
hvac
renovation
of
the
swinderman
building
on
the
doc
jt
campus
in
the
swinderman
building.
E
All
existing
water
source
heat
pumps
are
being
replaced
with
new
water
source,
heat
pumps
and
controls
replacement
of
existing
stairwell
heat
pumps
with
new
pardon
me
mini
split
system
in
the
stairwells
for
the
thompson
and
swinderman
buildings
also,
today,
the
finance
administration
cabinet
department
for
facilities
and
support
services,
the
health
services
building,
hvac
and
piping.
This
is
a
phase
2
project
in
the
amount
of
2.2
million
dollars
from
the
department
for
sale
facilities
and
support
services.
E
Bond
funded
maintenance
pool
project
is
going
to
replace
portions
of
the
primary
chilled
water
and
hot
and
chilled
water
piping
perimeter
fan
coil
units
and
controls
associated
with
the
hvac
system
at
the
health
services.
Building
here
in
frankfort
project
is
going
to
include
mechanical
replacements.
Electrical
upgrades
to
pump
controls,
as
well
as
associated
controls,
upgrades
and
programming.
E
Next,
I
have
a
couple
of
fees
in
lieu
of
stream
mitigation
projects.
The
first
one
today
is
for
the
tourism
marks
and
heritage
cabinet,
the
department
of
fish
and
wildlife
resources,
the
crow
creek
project
in
the
amount
of
19.2
million,
and
this
is
funded
from
the
philo
stream
mitigation
pool.
This
will
be
for
the
acquisition
survey.
Phase
of
the
project
has
begun.
U.S
army
corps
of
engineers
has
authorized
a
project
to
physically
restore
and
protect
over
72
000
linear
feet
of
the
project,
main
stem
and
tributaries
in
clinton
county.
E
Another
filo
item
today
is
from
for
the
again
from
tourism
marks
and
heritage
cabinet.
This
is
department
of
fish
and
wildlife
as
well.
This
is
for
the
east
fork:
indian
repair
project
amount
of
1.5
million
from
the
stream
filo
stream
mitigation
pool
repairs
are
necessary
for
a
project
due
to
a
catastrophic
event
in
the
daniel
boone
national
forest,
and
then
I
think.
Finally,
today
I
have
a
report
on
an
amendment
to
an
emergency
repair,
maintenance
or
replacement
project.
E
This
is
as
well
in
the
tourism
arts
and
heritage
cabinet
department
of
parks
at
fort
boonesboro
park
wide
flood
reconstruction.
This
project
is
being
amended.
The
project
appropriation
in
the
amount
of
one
point
to
the
project
appropriation
of
1.8
million.
E
It
was
previously
reported
in
july
of
2021
in
the
amount
of
1.3
million
it
has
increased
to
the
1.8.
The
increase
is
funding
has
been
requested
by
the
division
of
engineering
as
a
result
of
increasing
equipment
and
material
costs
and
expanded
scope
resulting
from
the
found
conditions
in
the
damaged
infrastructure.
E
It
is
truly
a
broad
a
park
wide
reconstruction.
There
are
numerous
affected
buildings,
including
recreation
hall,
campground
areas
and
shelters,
bath,
houses,
maintenance
areas,
playground
areas,
beach,
house,
etc.
A
Okay,
I'm
not
seeing
any.
Thank
you
very
much
for
that.
Okay,
next
we've
got
a
report
from
the
office
of
financial
management.
I
believe
sandy
williams
from
kia
is
with
us
remotely
and
she
does
have
eight
items
that
we
can
roll
into
one
vote.
If,
if
anyone
approves
of
that.
C
Mr
chairman,
since
item
number
b
is
city
of
hopkinsville
and
item
number,
a
is
city
of
elkton.
It's
only
appropriate
I'll
make
that
motion
to
roll
them
in
and
maybe
representative
petrie
might
make.
A
second
sounds
good.
A
Perfect,
I
believe
sandy
is
with
us
remotely
and
sander.
Are
you
there.
F
F
First
is
the
city
of
elkton
seeking
a
loan
increase
in
the
amount
of
two
hundred
thousand
dollars
to
their
existing
fund,
a
clean
water
state
revolving
fund
loan
to
fund
the
elkton
wastewater
system,
rehabilitation
and
improvements
project.
The
increase
is
due
to
higher
bids
than
budgeted
due
to
the
rise
and
cost
of
materials.
This
will
bring.
The
total
loan
amount
to
four
million
one
hundred
thirty
four
thousand
four
hundred
fifty
one
dollars.
F
F
F
This
involves
renovation
and
improvements
at
the
treatment
plant
and
will
expand
the
plant
capacity
to
9
million
gallons
per
day.
The
original
terms
and
conditions
do
remain
the
same.
This
will
be
a
20-year
loan
with
a
0.5
interest
rate,
and
this
loan
was
approved
today
earlier
today,
at
kia's
september
board.
Meeting
the
city
of
seabree
is
seeking
a
loan
increase
of
one
million
one
hundred
fifty
three
thousand
one
hundred
sixty
four
dollars
to
supplement
the
seabree
sanitary
sewer
replacement
project.
F
This
project
was
initially
approved
in
november
2019,
and
the
increase
is
due
to
higher
bids
than
budgeted
due
to
the
shortage
of
supplies.
It
will
bring.
The
total
loan
amount
to
two
million
sixty
three
thousand
nine
hundred
ninety
two
dollars.
The
original
terms
and
conditions
remain
the
same.
This
will
be
a
thirty
year
loan
with
a
point,
five
percent
interest
rate,
and
this
loan
was
approved
earlier
today
at
kia's
september
board.
F
The
the
and
this
loan
was
approved
today
at
earlier
today
at
the
september
ka
board.
Meeting
next
up
is
a
cave
run:
water
commission.
They
are
seeking
a
loan
increase
of
868
750
to
their
fund.
F
drinking
water
state
revolving
fund
loan
to
supplement
the
elevated
water
storage
tank
construction
project.
F
The
last
two
are
for
lecher
county
water
and
sewer
district.
The
first
of
their
request
is
a
fun
death
loan
in
the
amount
of
2
million
487
495
for
the
regional
interconnect
and
distribution
lines,
cumberland
river
phase,
4
project.
F
This
project
will
provide
a
first
time
source
of
potable
water
for
approximately
200
households
through
a
regional
interconnect
and
the
construction
of
distribution
lines.
This
is
a
20-year
loan
with
a
0.25
interest
rate
and
the
loan
was
approved
at
the
april
1st
kia
board
meeting
and
last
but
not
least,
again
for
ledger,
county
water
and
sewer
district.
F
A
C
C
C
A
Yes,
all
right
so
that
passes,
and
I
think
thanks
to
sandy
again
for
visiting
with
us
and
well.
Our
last
presenter
today
is
new
debt
issues
with
ryan
barrow
executive
director
for
the
office
of
financial
management,
and
he
is
here
in
person.
So
thank
you
for
being
here
ryan.
We
do
have
a
couple
of
action
items
we'll
go
ahead
and
do
the
first
one
it's
and
we
can
roll
these
two
into
one.
If
anyone,
no
one
opposes.
G
Afternoon,
happy
to
to
start
here
with
the
kentucky
housing
corporation
single-family
housing
revenue
refunding
bonds.
This
is
for
economic
reasons,
to
save
money
through
the
duration
of
maturity.
The
estimated
date
of
sale
is
september
29th
with
closing
october
7th.
This
has
normally
we
present
housing
multi-family
conduits.
This
is
not
that
this
is
a
loan
of
the
housing
corporation
refunding
some
outstanding
loans
that
they
have.
It
has
both
a
fixed
rate
and
a
variable
rate
component.
G
I
think
it's
been
probably
over
a
decade
since
they
had
a
variable
rate
component,
but
they
have
liquidity
within
the
indenture
variable
rates.
Tick
up
they
can
they
can
pay
those
off
as
well
as
a
fixed
rate.
So
it's
about
23.4
million,
fixed
36.2
in
variable
for
a
total
of
59.6
million.
The
estimated
net
present
value
savings
as
of
the
earlier
in
this
month,
when
the
numbers
were
run,
it's
about
4.25
million
and
that's
about
7.2
percent
and
the
information
about
the
financing
team
is
in
the
packet.
G
This
is
a
general
receipts
transaction
for
the
university
of
northern
kentucky
northern
kentucky
university.
Excuse
me:
it's
a
2021
b.
This
will
refund
certain
outstanding
bonds
of
their
2011
series.
It's
estimated
at
about
5.5
million
the
savings
for
that
is
about
730
000
when
the
numbers
are
run
and
that's
13.7
percent
mpv
savings.
Again
the
information
about
the
financing
teams
in
the
packet
happy
to
take
any
questions.
A
Any
any
questions
on
those
two
issues,
not
seeing
any
we'll
go
ahead
and
make
a
motion
to
vote
on
those
two
and
again
that
we'll
be
voting
on
both
of
those
items.
C
C
C
A
G
Sir,
so
this
is
a
more
traditional
that
we
bring
typically
at
least
one
of
these
every
month.
It
is
a
multi-family
transaction
that
just
uses
private
activity
bonds,
basically
access
the
tax
exempt
market
at
lower
rates
for
newtown
apartments,
and
it's
located
in
lexington
kentucky.
The
bonds
were
sold,
the
12th
of
august
and
net
proceeds
about
25
million,
with
the
project
being
just
north
of
50
million.
There's
information
about
the
financing
team
and
the
developer
in
the
packet.
A
Okay,
not
seeing
any
and
the
next
issue
and
is
there
is
action
required
it's
a
school
district
debt
issues
and
that
there's
five
different
action
items?
We
can
go
ahead
if
someone
will
make
a
motion
or
no.
If
no
one
opposes
we'll
go
ahead
and
roll
those
five
into
one
vote.
G
Thank
you.
We
look
at
these
in
two
different
categories.
First,
in
terms
of
the
refunding
bonds,
there's
four
refunding
bonds,
which
have
sfcc
participation
just
under
about
10
percent
of
debt
service,
with
90
percent
being
locally
funded,
the
estimated
par
of
all
four
series
is
about
30
35.6
million
dollars.
G
There
is
bowling
green
and
webster.
Both
have
a
taxable
component
in
the
refunding
which
we've
talked
about
the
need
for
that
now,
with
some
of
the
federal
tax
law
changes
moving
over
to
the
new
money,
we
only
have
one
transaction
this
month,
estimated
at
77.2
million
dollars,
small
percentage,
just
a
little
over
two
percent
is
sfcc,
with
the
balance
being
local.
No
tax
increase
is
necessary
to
fund
any
of
these
series
of
bonds.
A
A
C
C
C
A
Yes,
all
right!
Thank
you.
Thank
you,
ryan
appreciate
you
being
here
and
presenting
us
with
that.
Okay.
Well,
that
was
our
last
issue
of
the
day
and
we
do
have
one
question:
we're
gonna
pose
to
membership
for
our
october
21st
meeting.
If
anyone
would
be
against
moving
that
up
to
a
2
p.m,
instead
of
3
30
p.m.
A
C
C
A
Okay
and
I'll
make
a
third
on
it
all
right,
so
we'll
be
meeting
at
2
p.m.
On
october
21st,
probably
probably
this
same
room
but
that'll
be
determined,
but
and
that
will
do
it.
If
someone
would
like
to
make
a
motion
to
adjourn
if
we
need
to.