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Clark County fiscal court authorizes $275,000 KACO loan priority, approves $125,000 parks transfer and tables H&B bill
Summary
Clark County magistrates authorized the judge-executive to sign loan documents giving priority to a $275,000 KACO loan, approved a $125,000 transfer from Parks & Recreation to pay a Suresco air-handler invoice once proceeds arrive, and agreed to table an H&B vendor bill pending verification.
The Clark County Fiscal Court authorized the county judge-executive to sign loan documents prioritizing a $275,000 loan from the Kentucky Association of Counties (KACO) and approved a $125,000 transfer from the Parks and Recreation appropriation to cover payment for a Suresco air-handler once loan proceeds are received, the court recorded.
Court members said the short-term financing and the parks transfer are intended to address immediate bill-paying needs while the court resolves a disputed H&B vendor bill. Magistrates voted to table the H&B bill and several pre-authorizations but directed staff to pay road-related bills listed on the bills list.
Meeting minutes show the KACO loan package discussed at the meeting would be structured as a multi-year loan; court discussion referenced a four-year term and an interest rate of 5 percent, with no prepayment penalty noted in the materials presented to the court. The loan was described in the meeting as intended to provide quick cash flow to cover urgent county obligations, including the parks vendor invoice for an air-handling unit.
Actions taken at the meeting included a motion to authorize the judge-executive to sign the KACO loan documents as priority with a backup smaller package, a separate motion to transfer $125,000 from the Parks and Recreation appropriation to the Suresco line item, and a motion authorizing the treasurer to pay the Suresco invoice once the loan proceeds are received. Each motion carried by voice vote; the clerk recorded the motions as passed.
Court members and staff discussed budget-amendment mechanics and noted that the Suresco payment and other items would be reflected in a forthcoming budget amendment. Officials said the KACO funds could be available within several days after execution and county attorney review of the loan documents.
The court also discussed constraints on paying bills while payroll and cash flow issues remain unresolved; magistrates repeatedly returned to the need to prioritize payroll and avoid approving purchase orders that would exceed current available cash.
Votes at the meeting were taken by voice and recorded as "motion carries"; no roll-call tallies were recorded in the public transcript. The court directed staff to finalize loan paperwork with KACO and to proceed with the parks transfer once loan proceeds are in hand.
