Spencer County Fiscal Court adopts $1 million KACo loan ordinance

Spencer County Fiscal Court voted Aug. 18 to adopt Ordinance No. 2, Fiscal Year 2026 series, authorizing the county to participate in a Kentucky Association of Counties (KACo) finance program that enables public agencies to access pooled financing. The ordinance and the interlocal cooperation agreement were approved by a roll call vote, with two fiscal court members recorded as voting "nay." The judge/executive, Scott Travis, signed the ordinance as adopted.

The measure authorizes the county to enter the interlocal agreement that establishes the KACo Finance Corporation as a vehicle for financing governmental purposes. County documents present the ordinance as a means to provide a lower‑cost option for borrowing for capital needs and other projects. The court’s motion to approve the second reading and adoption was made by Esq. Travis and seconded by Esq. Pharris; the motion passed with a recorded roll call that showed two members in opposition.

The ordinance text filed with the court cites Sections 65.210–65.300 of the Kentucky Revised Statutes as the enabling authority for interlocal cooperation agreements. No specific borrowing decision (a loan closing or a particular project financing) was recorded at the Aug. 18 meeting; the ordinance authorizes the county to participate in future financing under the Program’s terms.

Court members who voted in favor said the program provides needed options to fund county projects economically; those who opposed raised concern about committing to potential debt vehicles without more detailed project plans. The ordinance becomes effective immediately as adopted and was attested by County Clerk Lynn Hesselbrock.

What happens next: adopting the ordinance allows Spencer County to participate in KACo’s program but does not by itself obligate the county to borrow; any specific loan or financing will require separate actions and specific terms to be approved by the fiscal court.