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I.
Call to Order
This called meeting of the Board of Directors of the Jefferson County School District Finance Corporation was called to order on Tuesday, February 13, 2024, at the VanHoose Education Center, Stewart Auditorium, 3332 Newburg Road, Louisville, Kentucky 40218 at 5:45 p.m. The meeting is to be held by video teleconference and broadcast to the public in compliance with KRS 61.826 and KRS 61.840.
II.
Approval of Minutes of Previous Meeting of Board of Directors
This action is necessary for the orderly operation of the Corporation.
Attachment
I recommend that the minutes of the meeting of the Board of Directors which was held on December 5, 2023, as presented, be and hereby are ratified and approved, and shall be entered into the minute book of the Corporation.
Motion Passed: President Martin Pollio recommends the minutes of the meeting of the Board of Directors which was held on December 5, 2023, as presented, be and hereby are ratified and approved, and shall be entered into the minute book of the Corporation. The recommendation passed with a motion by Dr. Christopher Kolb and a second by Mr. James Craig.
III.
Approval of Real Estate Purchase and Sale Agreement - 7201 Watson Lane
The Real Estate Purchase and Sale Agreement is necessary to dispose of surplus property owned by the Corporation. This property was declared surplus by the Jefferson County Board of Education on November 15, 2023. The property is being purchased by the Louisville/Jefferson County Metro Government.
Attachment
I recommend that the Board of Directors approve the attached authorizations and approvals.
Motion Passed: President Martin Pollio recommends the Board of Directors approve the attached authorizations and approvals. The recommendation passed with a motion by Mr. James Craig and a second by Mr. Joseph Marshall.
IV.
Approval of Sale and Purchase Agreement - 4923 and/or 4925 Poplar Level Road
A contract has been prepared for the purchase of 1.5 acres located at 4923 and/or 4925 Poplar Level Road between Bernie Logistic Corporation and Jefferson County School District Finance Corporation for the purchase price of $322,993.
Attachment
I recommend that the Board of Directors approve the attached Sale and Purchase Agreement.
Motion Passed: President Martin Pollio recommends the Board of Directors approve the attached Sale and Purchase Agreement. The recommendation passed with a motion by Mr. James Craig and a second by Dr. Christopher Kolb.
V.
Approval to Issue School Building Revenue Refunding Bonds 2024A
The interest rates on the 2013C and 2014A bonds to be refunded are 5.0% whereas the 2024A bonds to be issued are projected to pay interest between 2.75% and 3.3%, yielding a projected net interest savings of $3,900,000.
Attachment
I recommend that the Board of Directors approve issuance of School Building Revenue Refunding Bonds 2024A. These bonds will refund the Corporation’s School Building Revenue Bonds 2013C and 2014A.
Motion Passed: President Martin Pollio recommends that the Board of Directors approve the issuance of School Building Revenue Refunding Bonds 2024A. These bonds will refund the Corporation’s School Building Revenue Bonds 2013C and 2014A. The recommendation passed with a motion by Mrs. Linda Duncan and a second by Mr. James Craig.
VI.
Other Business
VII.
Adjournment
Motion Passed: A motion to adjourn at 5:49 p.m. passed with a motion by Dr. Christopher Kolb and a second by Mr. James Craig.
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