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The Kentucky Association of Counties Finance Corporation held a Board of Directors' meeting immediately following the KACo Leasing Trust Board meeting, via video teleconference, pursuant to proper notice given in accordance with KRS 61.826 and 2020 Ky. Acts ch. 73 sec. 1(8)(b), on Thursday, February 18, 2021.
The roll was called. The following Directors participated by video teleconference: Chair Amy Milliken, Warren Co. Attorney; Vice-Chair Bill Bartleman, McCracken Co. Commissioner; Sue Carole Perry, Shelby Co. Clerk; Gary Moore, Boone Co. Judge/Executive; and Reagan Taylor, Madison Co. Judge/Executive.
Others participating by video teleconference included: Grant Satterly, Director of Financial Services; Jim Henderson, Executive Director/CEO; Karen Basham, Chief Financial Officer; Lonnie Campbell, Assistant Director of Financial Services; Kelly Mittler, Finance Officer; B. J. White, Accounts Receivable Officer; Tim Sturgill, General Counsel; Rich Ornstein, Staff Attorney; Temple Juett, Director of Insurance; Roger Peterman, Board Counsel; R. J. Palmer, Keith Brock, and Louis Ragusa, Compass Municipal Advisors, LLC; Jennifer Burnett, Chief Innovation Officer; and Sonya Chesser, Chief Administrative Officer/Executive Assistant to CEO.
Chair Milliken called the meeting to order at 9:32 a.m.
Motion made by Reagan Taylor, seconded by Bill Bartleman, to approve the minutes of the Jan. 21, 2021 meeting as presented. Motion carried.
Mr. Satterly requested approval of a participation resolution for a list of entities that have expressed interest in participating in a future pool. The participants listed in the resolution included: County of Floyd for an approximate amount of $1,760,000 for the refinancing of KADD Lease Series 2005K; County of Lewis for an approximate amount of $435,000 for the refinancing of KADD Lease Series 2011B; and Rowan Co. Public Health Taxing District for an approximate amount of $1,145,000 for the refinancing of KADD Lease Series 2011 K.
Motion made by Gary Moore, seconded by Bill Bartleman, to approve the participation resolution as presented. Motion carried.
Mr. Satterly said the 2021B bond issue will be taxable and is scheduled to be issued in the spring.
Motion made by Reagan Taylor, seconded by Sue Carole Perry, to adopt the 2021B Bond Resolution. Motion carried.
Mr. Satterly, giving a program update, said the 2021A bond issue will sell in early March made up of nine borrowers totaling approximately $9.8 million.
The next meeting will be March 18th upon conclusion of the KACo Leasing Trust Board meeting.
Motion made by Reagan Taylor, seconded by Bill Bartleman, to adjourn the meeting. Motion carried.
