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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 on Thursday, January 24, 2019 at 400 Englewood Drive in Frankfort, Kentucky.
The roll was called. The following Directors were present: Vice-Chairman Tommy Turner, LaRue Co. Judge/Executive; Sue Carole Perry, Shelby Co. Clerk; Amy Milliken, Warren Co. Attorney; Gary Moore, Boone Co. Judge/Executive; and Bill Bartleman, McCracken Co. Commissioner.
Others present were: Grant Satterly, Director of Financial Services; Brian Roy, Executive Director; 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; Rich Ornstein, Staff Attorney; R. J. Palmer, Compass Municipal Advisors, LLC; Elizabeth Younger, Board Counsel, Dinsmore & Shohl, LLP; and Sonya Chesser, Executive Secretary.
Vice-Chair Turner called the meeting to order at 9:54 a.m.
Vice-Chair Turner accepted nominations for a chair, vice-chair and secretary.
Judge Moore nominated Amy Milliken as chair. Motion made by Sue Carole Perry, seconded by Bill Bartleman, that nominations cease and Amy Milliken be elected as chair. Motion carried with Ms. Milliken abstaining.
Sue Carole Perry nominated Bill Bartleman as vice-chair. Motion made by Gary Moore, seconded by Tommy Turner, that nominations cease and Bill Bartleman be elected as vice-chair. Motion carried.
Judge Turner nominated Grant Satterly as secretary. Motion made by Gary Moore, seconded by Sue Carole Perry, that nominations cease and Grant Satterly be elected as secretary. Motion made by Bill Bartleman, seconded by Tommy Turner, to approve the minutes of the December 20, 2018 meeting as presented. Motion carried.
There was no participation resolution or bond resolution required for today's meeting.
Mr. Satterly provided brief explanation of the Program for the benefit of new board member, Commissioner Bartleman.
Mr. Ornstein presented and discussed a bond counsel agreement between KACo Finance Corporation and Dinsmore & Shohl, LLP. He said a request for proposal was sent out and the board agreed to award the contract for bond counsel services to Dinsmore & Shohl, LLP. He explained the charges that are incurred with the bond issues.
Motion made by Gary Moore, seconded by Bill Bartleman, to table the agreement. Motion carried.
Motion made by Tommy Turner, seconded by Gary Moore, to adjourn the meeting at 10:07 a.m. Motion carried.
