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(4) A Kentucky Infrastructure Authority loan from Fund A1 in the amount of $141,125 for the City of Midway. Proceeds will be used to plan and design a new wastewater treatment plant. The terms of the loan are 3.8% for 5 years.

(5) Authority (Florence,

A $19 million bond issue, Kentucky Economic Development Finance Revenue Refunding Bonds, Series 1998, Colonial Heights Project Kentucky). Proceeds from this conduit bond issue will be used to refund an

earlier

bond

issue

by

the

City

of

Florence

for

the

Retirement

Housing

Foundation,

and

to

expand the Foundation’s Alzheimer’s facility. The projected to be 5.35%.

project length

by constructing a new assisted living of term is 30 years and the long-term

facility and an interest rate is

(6) Kentucky Asset/Liability Commission 1998 General Fund Second Series Project Notes in the amount of $127,200,000. The proceeds will provide short-term financing for General Fund supported bond- funded projects in the Surplus Expenditure Plan authorized by the 1998 General Assembly. The short-term notes will expire on July 1, 1999, and the estimated short-term interest rate is 3.15%.

Chairman Damron asked Representative Graham to take over duties of the Chair for the next agenda item, school bond issues. Representative Graham said there were twenty-five new SFCC bond issues which did not require a tax increase: Adair Co. - $6,685,000 to refund 1992 bonds; Boone Co. - $4,720,000 to refund 1993 bonds; Breathitt Co. - $2,505,000 to refund 1992 bonds; Caldwell Co. - $2,365,000 to partially refund 1994 bonds; Edmonson Co. - $1,530,000 to partially refund 1991 bonds; Fayette Co. - $5,825,000 to refund 1992 bonds; Glasgow Ind. (Barren Co.) - $3,240,000 to refund 1992 bonds; Grayson Co. - $5,665,000 to refund 1995 bonds; Hart Co. - $950,000 to partially refund 1990 and 1991 bonds; Henry Co. - $1,270,000 to refund 1992 bonds; Hopkins Co. - $2,280,000 to finance improvements and additions to an elementary school and $15,815,000 to refund 1992 and 1994 bonds; Johnson Co. - $3,210,000 to refund 1991 bonds; Lincoln Co. - $3,760,000 to refund 1992 bonds; Livingston Co. - $2,310,000 to partially refund 1994 bonds; Lyon Co. - $650,000 to refund 1992 bonds; Madison Co.

  • -

    $2,350,000 to refund 1990 bonds; Perry Co. - $8,455,000 to refund 1992 bonds; Pulaski

Co. - $260,000 to refund 1986 bonds and $9,070,000 to refund 1992 bonds; Raceland Ind. (Greenup Co.) - $1,970,000 to refund 1991 bonds; Science Hill Ind. (Pulaski Co.) - $990,000 to refund 1991 bonds; Todd Co. - $2,450,000 to partially refund 1994 bonds; Webster Co. - $1,250,000 to refund 1991 bonds; and Williamsburg Ind. (Whitley Co.) - $1,115,000 to refund 1992 bonds.

Representative Wayne made a motion to approve the school bond issues with SFCC participation in debt service. The motion was seconded by Representative Marcotte and passed by voice vote. Chairman Damron abstained from the vote, citing a potential conflict of interest.

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