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Committee authorizes state housing bonds, reviews informational refundings and approves SFCC debt transactions
Summary
The committee authorized up to $600 million in KHC single-family mortgage revenue bonds and approved three SFCC debt transactions (Campbell County $74.24M; Edmonson County $5.165M; Perry County $30M); it also reviewed informational refunding reports for the University of Kentucky and the Turnpike Authority.
The committee reviewed a package of bond and debt matters presented by the Office of Financial Management and approved multiple authorizations and transactions.
KHC bond authorization: Steve Starkweather, deputy executive director for the Kentucky Office of Financial Management, asked the committee to authorize Kentucky Housing Corporation tax-exempt and taxable single-family mortgage revenue bonds in an aggregate amount not to exceed $600,000,000 through March 1, 2027. The request covered multiple smaller issuances and included a near-term $100,000,000 series expected to issue in June; projected interest rates were noted in staff remarks.
Informational items: Starkweather also reported informational refundings: University of Kentucky general receipts refunding bonds (2026 series A) and Turnpike Authority revitalization project refundings, with savings and TICs reported for each transaction.
SFCC debt issues: The committee considered three single-family conduit college (SFCC) debt issues requiring action: Campbell County for $74,240,000 (administration, athletics and instructional components), Edmonson County for $5,165,000 and Perry County for $30,000,000 (100% instructional for the latter two). The committee rolled these SFCC items into a single vote and approved all three by roll call.
Outcome and next steps: The committee approved the KHC authorization and the SFCC debt issues on the record; informational items were noted with reported present-value savings. No further conditions were recorded during the meeting.
