RFQs and RFP

To select a financial institution to provide trustee, paying agent, and escrow trustee services to the Commonwealth of Kentucky State Property and Buildings Commission (the “Commission”) for its State Property and Buildings Commission Revenue Bonds, Project No. 132, referred to as the “Project 132 Bonds” or the “Bonds”. The Bonds are expected to be issued in an aggregate principal amount not to exceed $900 million.
The Series A Bonds are expected to be issued as fixed rate tax-exempt revenue refunding bonds to 1) provide permanent financing for approximately $600 million of General Fund supported capital projects authorized by the General Assembly of the Commonwealth of Kentucky in H.B. 1 (2010 Special Session), H.B. 265 (2012 Session), H.B. 235 (2014 Session), H.B. 303 (2016 Session), H.B. 200 (2018 Session), H.B. 268 (2019 Session), H.B. 352 (2020 Session), H.B. 192 (2021 Session), H.B. 1 (2022 Session), H.B. 1 (2022 Session), H.B. 6 (2024 Session) H.B. 264 (2024 Session) and any additional public projects for which an appropriation is made in the 2025 Session; and, 2) pay costs of issuance. The Series A Bonds are expected to have a stated final maturity of no later than April 1, 2045.

The Series B Bonds are expected to be issued as fixed rate taxable revenue refunding bonds to 1) refund certain outstanding Revenue Bonds, Project No. 108 Series A and Revenue and Refunding Bonds Project No. 110 for approximately $130 million in order to achieve debt service savings; and, 2) pay costs of issuance. The Series B Bonds are expected to have a stated final maturity no later than April 1, 2036.

The Project 132 Bonds are special and limited obligations of the Commission and are secured by revenues to be derived from General Fund appropriations. The Bondholders have no security interest in any properties constituting the project or any amounts derived there from.

The Commission may replace the Trustee, Paying Agent and Escrow Trustee if the Commission, in its sole discretion, feels the bank is not satisfactorily meeting its service requirements. The replacement may be undertaken in the manner set forth in Article IX of the SPBC 132 Bond Resolution.