Kentucky County Treasurer’s Fundamentals Course REQUIRED BY THE STATE/LOCAL DEBT OFFICER Kentucky County Treasurer’s Fundamentals Course Bonds Notification and Approval Process January 16, 2019 http://www.kactfo.com Slide 1 of 13

Kentucky County Treasurer’s Bonds - Notification and Approval Process Fundamentals Course Bonds - Notification and Approval Process No local government may issue bonds without first notifying the State Local Debt Officer in writing. A local government proposing to issue bonds under KRS Chapters 58, 66, 76, 91A, 96, 103, 107, or 220 shall complete the Notification of Intent to Finance/Application for Debt Approval form (SLDO-1). Pursuant To KRS 65.117 January 16, 2019 http://www.kactfo.com Slide 2 of 13

Kentucky County Treasurer’s Bonds - Notification and Approval Process Fundamentals Course Bonds - Notification and Approval Process No county may issue bonds which, together with all other net indebtedness of the county plus the principal amount of any outstanding self-supporting obligations, is in excess of one-half of one percent (0.5%) of the value of the taxable property therein, as determined by the next preceding certified assessment, without having first secured the written approval of the state local debt officer. Pursuant To KRS 66.310 January 16, 2019 http://www.kactfo.com Slide 3 of 13

Kentucky County Treasurer’s Bonds - Notification and Approval Process Fundamentals Course Bonds - Notification and Approval Process No local government shall issue bonds under KRS 103.200(1) (k), (l), (m), and (n), and only off-street parking facilities, cable television, and mass communication facilities as authorized by KRS 103.200(1)(b), without first obtaining the approval of the State Local Debt Officer. Pursuant To KRS 103.2101 January 16, 2019 http://www.kactfo.com Slide 4 of 13

The State Local Debt Officer #1 Kentucky County Treasurer’s Fundamentals Course Bonds - Notification and Approval Process Upon receipt of an application for approval of a bond, the State Local Debt Officer will assign the bond application to a hearing officer and schedule a hearing to be held at his office within ninety (90) days. Hearings shall be conducted under KRS Chapter 13B and its’ implementing regulations. The State Local Debt Officer #1 January 16, 2019 http://www.kactfo.com Slide 5 of 13

The State Local Debt Officer #2 Kentucky County Treasurer’s Fundamentals Course Bonds - Notification and Approval Process The State Local Debt Officer will deliver notice of the hearing to the Judge/Executive, who shall cause a copy of the notice to be published in accordance with KRS Chapter 424 not less than twenty (20) days prior to the hearing date. The county shall also publish notice of the hearing not less than 7 nor more than 21 days prior to the hearing, in accordance with KRS Chapter 424. The State Local Debt Officer #2 January 16, 2019 http://www.kactfo.com Slide 6 of 13

The State Local Debt Officer #3 Kentucky County Treasurer’s Fundamentals Course Bonds - Notification and Approval Process In the case of KRS Chapter 103 Industrial Revenue Bonds, the local government shall publish notice not less than 30 days prior to the hearing date. The local government shall also publish the notice of hearing not less than 7 nor more than 21 days in accordance with KRS Chapter 424. The State Local Debt Officer #3 January 16, 2019 http://www.kactfo.com Slide 7 of 13

The State Local Debt Officer #4 Kentucky County Treasurer’s Fundamentals Course Bonds - Notification and Approval Process The State Local Debt Officer #4 At any time during the evaluation process, the State Local Debt Officer may request additional documentation deemed necessary to properly evaluate the proposed bond. January 16, 2019 http://www.kactfo.com Slide 8 of 13

The State Local Debt Officer #5 Kentucky County Treasurer’s Fundamentals Course Bonds - Notification and Approval Process Prior to the hearing, the County shall provide the State Local Debt Officer with the following documentation: Minutes from the local public hearing Affidavit of publication of SLDO hearing and newspaper advertisement tear sheet Executed copy of ordinance/resolution of fiscal court authorizing financial plan for the issuance of the bonds Proposed plan of financing Preliminary official statement (if applicable) The State Local Debt Officer #5 January 16, 2019 http://www.kactfo.com Slide 9 of 13

The State Local Debt Officer #6 Kentucky County Treasurer’s Fundamentals Course Bonds - Notification and Approval Process In Chapter 103 Revenue Bond hearings, the local government shall provide, in addition to the documents required in Section 5 above: Documentation in an appropriate form substantiating the project’s eligibility under KRS 103.2101(1)(a)-(e). If the project requires approval of the reduction in property taxes, the local government shall provide to the State Local Debt Officer any documentation provided to agency responsible for approval. The State Local Debt Officer #6 January 16, 2019 http://www.kactfo.com Slide 10 of 13

The State Local Debt Officer #7 Kentucky County Treasurer’s Fundamentals Course Bonds - Notification and Approval Process The State Local Debt Officer #7 The State Local Debt Officer shall issue an approval or disapproval in accordance with the requirements of KRS Chapter 13B. January 16, 2019 http://www.kactfo.com Slide 11 of 13

The State Local Debt Officer #8 Kentucky County Treasurer’s Fundamentals Course Bonds - Notification and Approval Process The State Local Debt Officer #8 A party may appeal a decision of the State Local Debt Officer approving or denying a bond issuance as provided in KRS 66.310 or KRS 13B.160, whichever is applicable. January 16, 2019 http://www.kactfo.com Slide 12 of 13

This is to certify that, on this day, FIRST LAST Wednesday, January 16, 2019 FIRST LAST Has successfully completed the Kentucky County Treasurer’s Fundamentals Course Bonds - Notification and Approval Process Tammy Robertson K.A.C.T.F.O. President http://www.kactfo.com