OVERVIEW

Compass provided advisory services to the Kentucky River Authority and the Commonwealth of Kentucky in connection with the Dam 10 Project. The Agency Fund Revenue Bonds funded renovations and replacement to the Lock and Dam system along the Kentucky River near Fort Boonesborough State Park. This system serves as a primary water supply for the City of Winchester, Kentucky.

FINANCING PLAN

Compass worked with State Officials to develop a long-term finance plan to structure bond payments around existing debt service, future capital needs and changes to the Authority’s rate and fee structure. The final result was a structure that mitigated increases to the existing fee structure while still allowing for capacity to fund future capital needs. The Bonds were sold competitively in the capital markets in May 2018 and generated a total of eight competitive bids with the winning underwriter purchasing bond insurance as a credit enhancement.

PROJECT SCOPE

$29,000,000

SCOPE OF SERVICES

Bond Issuance
Long Term Capital Planning