Fiscal Court approves bond sale for state agency

-A A +A
By Lorrie Kinkade


The Trimble Banner

Trimble County Fiscal Court this week approved a resolution for the sale of $200 million in bonds by the Kentucky Association of Counties Leasing Trust.

The sale, requested by the state agency, will enable local-government entities throughout the state to obtain low-cost loans for capital projects, water-line installlation, 911 system upgrades and other needs.

Trimble County retains no responsiblity in the repayment of these bonds, and cannot be held liable for projects funded by them.

COLT representative Grant Shaefer told fiscal court at its Monday meeting that this bond issue will be the eighth the group has completed.

“The money goes for just about anything a county can do,” he said. “One week we sent $30 million to one town for a hospital and $10,000 to another for a [drug] dog.”

The loans are made to counties with no closing costs or application fees, and offer flexible terms and quick approvals.

A second reading of the bond resolution is set for the next meeting, Aug. 18.