Thursday, February 28, 2019

The Kentucky Association of Counties Finance Corporation held a Board of Directors' meeting immediately following the KACo Leasing Trust Board meeting on Thursday, February 28, 2019 at 400 Englewood Drive in Frankfort, Kentucky.

The roll was called. The following Directors were present: Chair Amy Milliken, Warren Co. Attorney; Vice-Chair Bill Bartleman, McCracken Co. Commissioner; Tommy Turner, LaRue Co. Judge/Executive; Sue Carole Perry, Shelby Co. Clerk; and Gary Moore, Boone Co. Judge/Executive.

Others present were: Grant Satterly, Director of Financial Services; Jim Henderson, Deputy Director; Sue Blakeman, Assistant Director; Lonnie Campbell, Assistant Director; Kelly Mittler, Finance Officer; B. J. White, Accounts Receivable Officer; Tim Sturgill, General Counsel; Karen Basham, Chief Financial Officer; R. J. Palmer, Compass Municipal Advisors, LLC; Elizabeth Younger, Board Counsel, Dinsmore & Shohl, LLP; Roger Recktenwald, Director of Infrastructure & IT Planning; Jesse Penn, Customer Support Specialist; and Sonya Chesser, Executive Secretary.

Chair Milliken called the meeting to order at 9:52 a.m.

Motion made by Bill Bartleman, seconded by Gary Moore, to approve the minutes of the January 24, 2019 meeting as presented. Motion carried.

Mr. Satterly presented the 2019 Series A Bond Resolution for approval.

Motion made by Gary Moore, seconded by Sue Carole Perry, to approve the 2019 Series A Bond Resolution as presented. Motion carried.

Mr. Satterly presented a resolution of the KACo Finance Corporation approving participants in the program relating to the issuance and sale of its financing program revenue bonds. Participants include: County of Christian totaling $1,200,000 for acquisition, construction, installation and equipping of an expansion to the James E. Bruce Convention Center and Green-Taylor Water District totaling $2,530,000 for refunding USDA debt.

Motion made by Sue Carole Perry, seconded by Tommy Turner, to approve the Participation Resolution as presented.  Motion carried.

Mr. Sturgill presented and discussed a bond counsel agreement between the KACo Finance Corporation and Dinsmore & Shohl, LLP for a term to begin upon execution by both parties and terminating June 30, 2021. This Agreement may be extended for up to two (2) additional three (3) year periods.

Motion made by Bill Bartleman, seconded by Tommy Turner, to approve the agreement between the KACo Finance Corporation and Dinsmore & Shohl, LLP.  Motion carried.

Mr. Satterly provided a program update.

The next scheduled board meeting will be held March 28th upon adjournment of the KACo Leasing Trust board meeting.

Motion made by Sue Carole Perry, seconded by Tommy Turner, to adjourn the meeting at 9:55 a.m.  Motion carried.