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From YouTube: Capital Projects and Bond Oversight Committee (8-24-22)
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B
Okay,
we
have
a
quorum.
We
have
a
motion
to
prove
the
minutes.
C
Pursuant
to
cares,
45
760
sub
5,
the
university
of
kentucky
reported
three
medical
equipment
purchases
totaling
about
1.8
million
dollars
in
restricted
funds
for
uk
chandler
hospital
and
a
300
000
research
equipment
purchase
for
uk's
college
of
pharmacy
pursuant
to
care
s45812
sub
one
six
school
districts,
none
of
which
needed
an
additional
tax
levy
to
pay
debt
service,
reported
upcoming
debt
issues
for
new
projects
through
their
fiscal
agents.
The
school
districts
were
brethren,
county
clay,
county
corbyn,
independent
esto,
councin,
county
and
livingston
county
ek.
B
D
Thank
you.
I
have
a
new
lease
amendment
for
a
transportation
cabinet
in
graves
county.
The
original
leases
for
temporary
housing
is
needed
for
families
whose
houses
were
damaged
by
tornadoes
that
occurred
in
december
of
last
year.
The
lease
is
being
amended
to
allow
an
addition
of
mowing
services
at
a
cost
of
an
additional
40
per
month
per
lot.
The
transportation
cabinet
currently
leases
a
total
of
17
lots
at
this
location.
With
this
edition,
the
lots
are
now
leased
at
365
dollars
per
lot
per
month.
B
Thank
you
this
this
doesn't
require
any
actions.
Anyone
have
any
questions
on
any
of
this
hearing.
None.
Thank
you,
mr
aubry
appreciate
it.
Thank
you,
sir.
Next
up,
we
sandy
williams
here
to
present
agenda
item
5a.
E
E
The
city
of
mount
washington
has
a
fund
b
loan
in
the
amount
of
seven
hundred
thousand
dollars
for
their
pleasant
grove
pump
station
improvements
project.
The
loan
will
provide
financing
for
the
replacement
of
the
pump
station,
which
serves
the
majority
of
the
sewer
customers
in
the
western
portion
of
the
city.
This
will
be
a
20-year
loan
with
a
2.25
interest
rate
and
the
loan
was
approved
at
the
august.
4Th
kia
board
meeting
I'd
be
happy
to
answer
any
questions.
B
Thank
you.
We
have
two
items
up,
got
a
motion
to
roll
these
into
one
roll
call.
E
Yes,
thank
you,
mr
chairman,
and
and
for
the
benefit
of
representative
petry.
There
is
one
cleaner
water
program
grant
to
the
city
of
elkton
in
the
amount
of
one
hundred
forty
six
thousand
one
hundred
ninety
three
dollars.
This
will
be
a
sewer
grant
to
provide
repairs
and
upgrades
to
the
city's
water
collection
system.
B
Thank
you.
We
definitely
want,
mr
chairman,
to
have
the
cleanest
water
that
he
can
possibly
have
in
any
other
thing
on
the
shameless
plug
that
we
need
to
throw
in
here.
Do
you
have
a
motion
to
approve
the
submitted
items?
A
F
It
is:
is
that
better
yeah?
Oh
good,
sorry,
I
thought
it
had
turned
on
the
city
of
winchester.
In
partnership
with
the
winchester
clark
county
industrial
development
authority
is
seeking
to
grade
a
70-acre
site
in
the
winchester
industrial
park.
The
total
projected
costs
are
approximately
2.2
million
winchester
clark.
County
industrial
development
authority
has
committed
funds
to
match
the
economic
development
fund
grant.
The
project
was
identified
by
an
independent
site
selection
consultant
as
having
the
potential
for
future
investment
and
location
of
an
economic
development
project.
F
Under
the
terms
of
the
edf
grant
agreement,
the
funds
shall
be
disbursed
on
a
reimbursement
basis
after
supporting
documentation
of
invoices,
proof
of
payment
matching
funds
and
a
progress
report
are
received
upon
staff's
review
and
approval
of
all
documents.
Funds
will
be
disbursed
to
the
local
government
entity
to
provide
to
the
project.
Applicant
economic
development,
cabinet,
secretary,
jeff,
knoll
and
finance
secretary
holly
johnson
have
concurred
with
the
kentucky
economic
development,
finance
authority
or
kedpa's
approval,
given
on
july
28
2022.
F
B
Thank
you.
Anyone
have
any
questions
on
this
senator
mcdaniel.
G
F
E
A
B
B
H
Thank
you,
mr
chair
first
item
up
for
consideration
today
is
state
property
and
buildings.
Commission.
These
are
direct
general
fund,
securitizations
liabilities
of
the
state.
It's
going
to
raise
255
million
dollars
in
proceeds.
It's
going
to
be
funded
series,
a
will
be
tax
exempt
and
series
b
is
basically
the
bucks
for
brains.
Tax
law
requires
those
to
be
separated
and
taxable
interest
rates.
H
G
Thank
you,
mr
chairman
ryan.
What
specifically
about
bucks?
There
was
buck
for
brains
and
the
research,
the
research
endowment,
all
right
and
I'm
sorry
they're,
both
bug
for
planes
before
what
is
about
bucks
for
brains
that
makes
that
not
qualify
as
tax
exempt
debt.
H
There's
a
couple
reasons:
the
easiest
explanation
is
viewed
based
on
tax
laws
operating
yeah.
You
cannot
securitize
operating
funds.
H
Well,
the
I
mean
just
other
sources,
really
I
mean
really
it's
the
operating
component.
It
would
be
what
drives
what
drives
that
duration
is
another
factor,
meaning
those
funds
are
expended
and
we're
going
to
use
20-year
debt.
So
you
you,
wouldn't
necessarily
match
usable
life
with
the
expenditure,
so
that'd
be
another
reason.
H
Sure
the
second
item
is
another
state
borrowing.
This
is
the
turnpike
authority
of
kentucky's
securitization
of
road
fund
dollars.
Unlike
the
previous
deal,
this
will
exhaust
prior
authorizations
of
the
general
assembly.
It's
50
million
dollars
in
proceeds
like
the
prior
transaction.
It's
it's
price
to
sell
in
september
closed
in
october.
B
A
H
Thank
you
for
consideration.
Today
are
four
sfcc
participation
in
local
school
district,
three
independents
in
carroll
county,
the
sfcc
portion
is
just
under
9
about
1.4
million
dollars.
Local
is
91
percent
at
14.6,
with
a
total
estimated
part
of
16
million
dollars,
and
no
tax
is
necessary
to
fund
any
of
these
new
money
projects.