Franklin County OKs ordinances to back up to $1.8M in bonds for Grand Theatre renovation

Frankfort — Franklin County Fiscal Court voted unanimously Oct. 15 to adopt two ordinances that authorize the county to apply an additional 2% transient room tax to dedicated tax revenue bonds and to issue up to $1,800,000 in county bonds for the Grand Theatre renovation.

Squire J.W. Blackburn moved, and Squire Kelly Dycus seconded, to approve second reading and adoption of Ordinance #9-2025, which amends prior ordinances governing the collection and application of a 2% transient room tax under KRS 91A.392(1) for the Save The Grand Theatre Project; the motion passed 7-0. Blackburn subsequently moved, and Dycus seconded, approval of Ordinance #10-2025 authorizing the sale and issuance of up to $1,800,000 in dedicated tax revenue and refunding bonds (Series 2025) to finance renovation, repair, reconstruction and equipping of the Grand Theatre and to refund a portion of prior dedicated tax revenue refunding bonds; that motion also passed unanimously.

The ordinances amend earlier actions cited in the minutes and state the bonds are intended to provide net bond proceeds not to exceed $1.8 million for the Grand Theatre project. The record ties the additional transient room tax to the retirement of the proposed bonds; the ordinances reference prior series and the statutory authority noted in the motion language.

Why it matters: the action gives the county the legal authority to sell the bonds and apply the additional transient room tax as pledged revenue, enabling work on the Grand Theatre in the central business district and signaling a financing path for a locally significant cultural and tourism project.

What the record shows: the minutes do not specify the bond purchaser, interest rates, repayment schedule, or the exact contractor or construction timeline. The motion language cites amendments to Ordinance No. 2024-12 and earlier ordinances; those documents and final bond documents will contain the specific terms. The court voted 7-0 on both ordinances.

Next steps: the adopted ordinances authorize bond issuance and related document execution; the county administration and bond counsel will complete sale and closing steps as required by the ordinances and applicable law.