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. 134, referred to as the “Project 134 Bonds” or the “Bonds”. The Bonds are expected to be issued in an aggregate principal amount not to exceed $20 million.

The Series A Bonds are expected to be issued as fixed rate taxable revenue bonds to 1) provide permanent financing for a $12.5 million Road Fund supported capital project to replace the Kentucky Driver Licensing System as authorized by the General Assembly of the Commonwealth of Kentucky in H.B. 2 (2012 Extraordinary Session); and, 2) pay costs of issuance. The Series A Bonds are expected to have a stated final maturity of no later than September 1, 2035.

The Series B Bonds are expected to be issued as fixed rate tax-exempt revenue refunding bonds to 1) refund certain outstanding Revenue Bonds, Project No. 107 Series A, and Revenue Bonds, Project No. 111 for approximately $7 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 September 1, 2035.

The Project 134 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 134 Bond Resolution.