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Montgomery County fiscal court advances tax-rate ordinance, approves budget amendments and backs $72.5 million revenue-bond request for hospital projects
Summary
On Aug. 19 the Montgomery County Fiscal Court approved first reading of the annual tax-rate ordinance, adopted multiple budget amendments and passed a resolution asking KEDFA to consider up to $72.5 million in revenue bonds for CommonSpirit Saint Joseph Health projects.
At its Aug. 19, 2025 session in Mount Sterling, the Montgomery County Fiscal Court moved forward with several fiscal items: first reading of the annual tax-rate ordinance, approval of multiple budget-amending ordinances, awards of local grants, and adoption of a resolution requesting the Kentucky Economic Development Finance Authority consider issuing revenue bonds of up to $72,500,000 to finance and refinance hospital projects.
The court reviewed a proposed compensating tax rate of 6.3 per $100 for real property, a rate for personal property given in the transcript as 6.3 cents per $100, a rate of 1.5 cents per $100 for tangible storage, and a motor-vehicle and watercraft rate listed as 12.6 cents per $100. The court approved the first reading of the tax-rate ordinance by voice vote.
Finance items approved or advanced included budget adjustments and unanticipated-revenue entries the clerk read into the record: a prior-year surplus entry of $904,864.75; an increase in jail-fund expenditures of $555,502.43; a road-fund surplus of $623,951.39; and an adjustment for the health center of $32,628.51. The transcript also records an LGDA (Gateway Area Development) fund figure that appears inconsistent in the text; the clerk read an amount that the court later clarified as a small transfer rather than the large number printed in the record (see clarifying details).
The court also adopted a resolution asking the Kentucky Economic Development Finance Authority to provide for issuance of revenue bonds of up to $72,500,000 to finance CommonSpirit Saint Joseph Health projects in Montgomery County; the motion passed by voice vote.
Separately, the court approved local grant awards (Net Recovery: $55,000; Northeast Kentucky Substance Use Response Coalition: transcript shows a request of $41,575 and an awarded figure shown as $41,005.75 in the record; New Song: $10,000). The transcript contains inconsistent figures for one award; the court record should be consulted for the official award amounts.
Votes on the record were taken by voice for each motion; where individual votes were recorded, they were expressed as 'aye' or 'no' orally and the presiding official announced motions carried. No roll-call tally with full member-by-name votes appears in the transcript.
