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The Kentucky Association of Counties Finance Corporation held a Board of Directors meeting on Thursday, August 22, 2024. This meeting was held at the Kentucky Exposition Center located at 937 Phillips Lane in Louisville, Ky. and via video teleconference, in accordance with proper notice given in accordance with KRS 61.826 and KRS 65.312(3).
The roll was called. The following Directors were present: Chair Amy Chandler, Warren Co. Attorney; Vice-Chair Bill Bartleman, McCracken Co. Commissioner (via video teleconference); Gary Moore, Boone Co. Judge/Executive; Tabatha Clemons, Grant Co. Clerk; and Matt Wireman, Magoffin Co. Judge/Executive.
Others participating included: Jim Henderson, Executive Director/CEO; Temple Juett, Director of Insurance and Business; Karen Basham, Chief Financial Officer; Lonnie Campbell, Assistant Director of Financing Services (via video teleconference); B. J. White, Accounts Receivable Officer (via video teleconference); R. J. Palmer and Keith Brock, Senior Vice Presidents, Compass Municipal Advisors, LLC (via video teleconference); Mark Franklin, Board Counsel, Dinsmore & Shohl, LLP; Shellie Hampton, Director of Government Affairs; Jennifer Burnett, Director of Strategic Operations; and Sonya Chesser, Executive Assistant to CEO/Director of Administrative Services.
Chair Chandler called the meeting to order at 10:13 a.m.
Motion made by Tabatha Clemons, seconded by Bill Bartleman, to approve the minutes of the July 18, 2024, meeting as presented. Motion carried. Mr. Juett presented and discussed a bond counsel agreement between the KACo Finance Corporation and Dinsmore & Shohl LLP for period commencing on Aug. 1, 2024, and terminating June 30, 2027. Upon mutual agreement of the parties, this agreement may be extended for up to two additional three-year periods.
Motion made by Tabatha Clemons, seconded by Matt Wireman, to approve the agreement between the KACo Finance Corporation and Dinsmore & Shohl LLP as presented. Motion carried.
Mr. Brock presented and discussed a Participation Resolution to approve the following participant: Christian County for an approximate amount of $1,200,000 for the acquisition, construction, installation, and equipping of an industrial building, the moneys related to which will be granted by the County to a prospective employer planning to locate a large manufacturing facility within the County.
Motion made by Bill Bartleman, seconded by Gary Moore, to approve the Participation Resolution as presented. Motion carried.
Mr. Brock presented and discussed the 2024 Series C Bond Resolution for approval.
Motion made by Tabatha Clemons, seconded by Gary Moore, to approve the 2024 Series C Bond Resolution as presented. Motion carried.
Mr. Brock, giving a program update, said the Series B Bonds sold and closed with an overall rate of 4.18%.
The next meeting will be held Sept. 26, at 9:30 a.m.
Motion made by Gary Moore, seconded by Tabatha Clemons, to adjourn the meeting at 10:18 a.m. Motion carried.
