Mason County fiscal court approves lease financing for Elaine Field compactor; DLG hearing set May 7
April 30, 2024 | Mason County, Kentucky
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Mason County Fiscal Court voted April 30 to approve Resolution 24-04, authorizing a lease to finance an Elaine Field compactor and related documents.
Court members said the purchase and financing plan will require a Department of Local Government hearing on May 7 for formal approval. Officials discussed a purchase amount of $1,006,000 and noted the resolution contains a maximum financing cap of $1,200,000.
Court members said the lease includes standard payment and security provisions and allows the county to proceed to execute necessary documents. During the discussion officials noted refinancing the lease remains an option in the future.
The motion to approve Resolution 24-04 was made and seconded at the meeting and adopted by roll call, with all members present voting yes. The court did not specify a repayment schedule or provider details in the discussion recorded in the transcript.
Next steps: the county will appear before the Department of Local Government on May 7 for the required hearing to secure DLG approval before finalizing the financing.
Court members said the purchase and financing plan will require a Department of Local Government hearing on May 7 for formal approval. Officials discussed a purchase amount of $1,006,000 and noted the resolution contains a maximum financing cap of $1,200,000.
Court members said the lease includes standard payment and security provisions and allows the county to proceed to execute necessary documents. During the discussion officials noted refinancing the lease remains an option in the future.
The motion to approve Resolution 24-04 was made and seconded at the meeting and adopted by roll call, with all members present voting yes. The court did not specify a repayment schedule or provider details in the discussion recorded in the transcript.
Next steps: the county will appear before the Department of Local Government on May 7 for the required hearing to secure DLG approval before finalizing the financing.
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