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The Kentucky Association of Counties Leasing Trust held a Board of Trustees' meeting, via video teleconference, pursuant to proper notice given in accordance with KRS 61.826 and 2020 Ky. Acts ch. 73 sec. 1(8)(b), at 9:00 a.m. on Thursday, February 18, 2021.
The roll was called. The following Trustees participated via teleconference: Chair Sue Carole Perry, Shelby Co. Clerk; Gary Moore, Boone Co. Judge/Executive; Bill Bartleman, McCracken Co. Commissioner; Amy Milliken, Warren Co. Attorney; and Reagan Taylor, Madison Co. Judge/ Executive.
Others participating via teleconference included: Grant Satterly, Director of Financial Services; Jim Henderson, Executive Director/CEO; Karen Basham, Chief Financial Officer; Lonnie Campbell, Assistant Director of Financial Services; Kelly Mittler, Finance Officer; B. J. White, Accounts Receivable Officer; Tim Sturgill, General Counsel; Rich Ornstein, Staff Attorney; Temple Juett, Director of Insurance; Roger Peterman, Board Counsel; R. J. Palmer, Keith Brock, and Louis Ragusa, Compass Municipal Advisors, LLC; Jennifer Burnett, Chief Innovation Officer; and Sonya Chesser, Chief Administrative Officer/Executive Assistant to CEO.
Chair Perry called the meeting to order at 9:02 a.m.
Motion made by Bill Bartleman, seconded by Amy Milliken, to approve the minutes of Jan. 21, 2021 meeting as presented. Motion carried.
Ms. Basham presented and discussed the following financial reports: consolidated financial statement for period ended Jan. 31, 2020; cash transactions for January 2020; and FY 2020/21 PAF budget for period July 1, 2020 - Jan. 31, 2020.
Motion made by Reagan Taylor, seconded by Bill Bartleman, to acknowledge receipt of the financial reports. Motion carried.
Mr. Satterly presented the Jan. 31, 2021 investment report and security position changes in a new format. He asked for the board for their preference in continuing to receive the full investment report or in this new, condensed format. Squire Bartleman requested that the board receive a copy of the full monthly investment report on a quarterly basis. Ms. Basham said a copy of the full investment report would be emailed to the board each month.
Motion made by Reagan Taylor, seconded by Gary Moore, to accept the investment report and ratify the investment transactions for the month of January listed on the security positions changes report. Motion carried.
Mr. Satterly presented and discussed the lease activity report.
The next meeting will be March 18th at 9 a.m.
Motion made by Gary Moore, seconded by Reagan Taylor, to adjourn the meeting at 9:32 a.m. Motion carried.
