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The Kentucky Association of Counties Finance Corporation held a Board of Directors meeting at 9:30 a.m. on Thursday, September 26, 2024. This meeting was held at the KACo offices located at 400 Englewood Drive in Frankfort, 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: Vice-chair Bill Bartleman, McCracken Co. Commissioner (via video teleconference); Gary Moore, Boone Co. Judge/Executive (via video teleconference); Tabatha Clemons, Grant Co. Clerk; and Matt Wireman, Magoffin Co. Judge/Executive.
Others participating included: Jim Henderson, Executive Director/CEO; Karen Basham, Chief Financial Officer; Tim Sturgill, General Counsel; Lonnie Campbell, Assistant Director of Financing Services; Kelly Mittler, Financing Officer; B. J. White, Accounts Receivable Officer; Alyssa Rogers, Staff Accountant; Keith Brock and R.J. Palmer, 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; Jesse Penn, Computer Support Specialist; and Sonya Chesser, Executive Assistant to CEO/Director of Administrative Services.
Vice-chair Bartleman called the meeting to order at 9:58 a.m.
Motion made by Tabatha Clemons, seconded by Gary Moore, to approve the minutes of the August 22, 2024, meeting as presented. Motion carried.
Ms. Mittler presented and discussed a Participation Resolution to approve the following participants: Monroe County for an approximate amount of $750,000 for the costs of the acquisition, construction, installation, and equipping of new athletic fields, including without limitation, soccer fields and Marion County for an approximate amount of $1,200,000 for the cost, acquisition and installation of 911 communication equipment.
Motion made by Tabatha Clemons, seconded by Matt Wireman, to approve the Participation Resolution as presented. Motion carried.
Ms. Basham requested approval of a resolution designating herself as the authorized officer and authorizing the execution of documents and other actions to enhance and further the purposes of the KACo Finance Corporation replacing Temple Juett.
Mr. Henderson has designated Ms. Basham to oversee the financing program to allow Mr. Juett to focus his time solely on KACo's insurance programs.
Motion made by Matt Wireman, seconded by Tabatha Clemons, to adopt the resolution designating Karen Basham as the authorized officer replacing Temple Juett. Motion carried.
Ms. Basham requested approval of a resolution designating authorized disbursement representatives to remove Temple Juett as an authorized signor with Karen Basham, Jim Henderson, Tim Sturgill and Sonya Chesser remaining as authorized signors from the executive staff and Lonnie Campbell and Kelly Mittler from the financing services department.
Motion made by Matt Wireman, seconded by Gary Moore, to adopt resolution designating authorized disbursement representatives as presented. Motion carried.
Mr. Brock, giving a program update, said the 2024 Series C Bond Issue is expected to be presented to the board for approval at the November meeting. He and Ms. Mittler presented a KACo hosted webinar on securing funds for capital projects, exploring various debt options, and navigating the borrowing process.
The next meeting will be held Oct. 24, at 9:30 a.m.
Motion made by Tabatha Clemons, seconded by Gary Moore, to adjourn the meeting at 10:06 a.m. Motion carried.
