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101 E Main St,
Georgetown, KY 40324
101 E Main St, Georgetown, KY 40324
(502) 863-7850
(502) 863-7850
CALL US NOW
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Georgetown, KY 40324
(502) 863-7850
Facebook
Youtube
Contact Us
101 E Main St,
Georgetown, KY 40324
(502) 863-7850
CALL US NOW
Facebook
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Search
Home
Transparency
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O RDIN AN CE NO . 90-0 09 SER IE S 1990 B O ND ORDIN AN CE O RDIN AN CE OF TH E FIS C AL CO URT OF TH E CO UN TY OF SC O TT, KEN TU CKY, A U TH O RIZ IN G AN D PR O VID IN G FO R TH E IS SU AN C E OF TH E CO UN TY OF SC O TT, K EN TU CKY IN DUSTR IA L DEVELO PM EN T BO NDS (IN TE R STA T E TR AN SFO RM ER C O M PA N Y PR O JE C T) SER IE S 1990, DAT E D AS OF SEPTE M BE R 1, 1990 , IN TH E P R IN CIP A L AM OUNT OF $2,0 00,0 00, FO R TH E PU R PO SE OF AC Q UIR IN G P R O PER TY, PLA N T AN D EQ UIP M EN T. W HER EAS, th e County of Sco tt, Kentu ck y (th e "C ou nty "), a poli t ic a l su b div is io n of th e C om monw ealt h of Kentu cky, is auth oriz e d and em pow ere d by Sectio ns 10 3.2 00 to 103.2 8 7, i n clu siv e , of th e Kentu cky Revis e d Sta tu te s, as am end ed (th e "A ct" ), to is su e bond s an d le n d t h e p ro ce eds of th e bonds to any pers o n to defr a y th e co sts of a "b uild in g" pro je ct, as defin e d in t h e A ct; a nd W HER EAS, In te rs ta te Tra nsfo rm er Com pany (th e "C om pan y"), has off e re d to th e C ounty t o fin ance th e acq uis it io n of pro perty , pla nt and equip m ent lo ca te d at 19 49 Lexin gto n R oad, G eorg eto w n, Sco tt County , Kentu cky (th e "P ro je ct" ), if th e Coun ty will agre e to is su e it s C ounty o f Sco tt, Kentu cky In dustr ia l Deve lo pm ent Bon ds (In te rs ta te Tra nsfo rm er Com pan y P ro je ct) S erie s 1990, in th e aggre gate prin cip al am ount of $2 ,0 00,0 00 (th e "B onds"), purs u ant to t h e A ct. S uch Pro je ct is to be use d and occu pie d by th e Com pany an d will te nd to re lie ve e xis tin g c o ndit io ns of unem plo ym ent and re su lt in th e em plo ym ent of a su b sta ntia l nu m ber of w ork e rs a nd pro m ote th e eco nom ic deve lo pm ent of th e Coun ty and th e su rr o un din g are a; and W HER EAS, by In duce m ent Contr a ct an d oth er actio ns ta ke n , th e County has in vit e d th e C om pany to pro ce ed wit h th e pro pose d Pro je ct; and W HER EAS, under th e te rm s of a pro pose d Loan Agre em ent (h e re in afte r id en tif ie d), th e C om pany has agre ed to pay th e County su ff ic ie nt paym ents in am ple tim e to pay th e prin cip al a nd i n te re st re quir e m ents of th e Bonds, and whic h paym ents sh all be ple d ged, to geth er wit h th e L oan A gre em ent it s e lf , as se cu rit y fo r th e paym ent of th e prin cip al of and in te re st on th e Bon ds; a nd W HER EAS, th e County has fo und th at th e opera tio n of th e pro pose d Pro je ct will te nd to r e lie ve e xis tin g co ndit io ns of unem plo ym ent in th e Coun ty an d th e su rr o un din g are a and wil l o th erw is e pro m ote th e genera l welf a re and eco n om ic deve lo pm ent of th e Coun ty and all of it s c it iz e ns a nd in habit a nts ; B E IT ORDAIN ED BY TH E FIS C AL CO URT OF TH E CO UNTY OF SC O TT, K EN TU CKY: 1 . AU TH O RIZ AT IO N OF BO NDS. For th e pu rp o se of payin g th e co sts , not oth erw is e pro vid ed, of th e Pro je ct, th e County here by auth oriz e s an d appro ve s th e is su ance of it s County of Sco tt, Kentu cky In dustr ia l Deve lo pm ent Bon ds (In te rs ta te Tra nsfo rm er
