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The Kentucky Association of Counties Finance Corporation held a special Board of Directors meeting immediately following the KACo Leasing Trust Board meeting at the KACo offices located at 400 Englewood Drive in Frankfort, Ky. and via video teleconference, in accordance with KRS 61.826 and 2020 Ky. Acts ch. 73 sec. 1(8)(b), on Thursday, May 20, 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: Temple Juett, Director of Insurance and Business; Grant Satterly, Director of Financing Services; Jim Henderson, Executive Director/CEO; Karen Basham, Chief Financial Officer; Lonnie Campbell, Assistant Director of Financial Services; Kelly Mittler, Financing Officer; B. J. White, Accounts Receivable Officer; Tim Sturgill, General Counsel; Rich Ornstein, Staff Attorney; Roger Peterman, Board Counsel, Dinsmore; R. J. Palmer and Louis Ragusa, Compass Municipal Advisors, LLC; and Sonya Chesser, Executive Assistant to the CEO/Director of Administrative Services.
Chair Milliken called the meeting to order at 8:45 a.m.
Motion made by Reagan Taylor, seconded by Gary Moore, to approve the minutes of the April 15, 2021 meeting as presented. Motion carried.
Mr. Satterly presented a copy of the current board counsel agreement between CoLT and Dinsmore, which is to expire June 30, 2021. A memorandum of extension between CoLT and Dinsmore was presented to the board to extend the period for an additional three years commencing on July 1, 2021 and continuing through June 30, 2024.
Motion made by Sue Carole Perry, seconded by Reagan Taylor, to approve the memorandum of extension with Dinsmore for an additional three years. Motion carried.
Mr. Satterly, providing a program update, said Compass provided a standalone taxable bond issue for the Simpson County Industrial Development Authority at a rate of 1.87% for fifteen years totaling roughly $6 million. He said Knott County Fiscal Court's taxable bond issue will sell today.
The board will hold a special meeting on June 17th upon conclusion of the KACo Leasing Trust Board special meeting.
Motion made by Reagan Taylor, seconded by Bill Bartleman, to adjourn the meeting at 8:54 a.m. Motion carried.
