SECOND READING AND APPROVAL OF AN ORDINANCE #9-2025 OF THE COUNTY OF FRANKLIN, KENTUCKY, IN CONNECTION WITH (I) THE AMENDMENT OF ORDINANCE NO. 2024-12, WHICH RELATES TO THE COLLECTION, DISBURSEMENT, AND ENFORCEMENT OF A TRANSIENT ROOM TAX AND (II) THE AMENDMENT OF ORDINANCE NO. 15, SERIES 2006, WHICH RELATES TO THE ENACTMENT OF AN ADDITIONAL TRANSIENT ROOM TAX OF TWO PERCENT (2%) PURSUANT TO AUTHORITY OF KRS § 91A.392(1) TO BE APPLIED TO THE RETIREMENT OF PROPOSED DEDICATED TAX REVENUE BONDS, IN AN AMOUNT SUFFICIENT TO PROVIDE NET BOND PROCEEDS NOT TO EXCEED THREE MILLION DOLLARS ($3,000,000) FOR THE PURPOSE OF FINANCING THE RENOVATION, REPAIR, RECONSTRUCTION AND EQUIPPING OF THE GRAND THEATRE, SITUATED IN THE CENTRAL BUSINESS DISTRICT OF FRANKFORT, KENTUCKY, TO CONSTITUTE A FINE ARTS CENTER, USEFUL TO THE PROMOTION OF TOURISM, AND SUCH ORDINANCE WAS FURTHER AMENDED BY ORDINANCE NO. 8, SERIES 2015, WHICH RELATES TO THE APPLICATION OF THE ADDITIONAL TRANSIENT ROOM TAX TO THE COUNTY OF FRANKLIN, KENTUCKY DEDICATED TAX REVENUE REFUNDING BONDS, SERIES 2015 (SAVE THE GRAND THEATRE PROJECT), WHICH WERE INTENDED TO REFUND THE COUNTY OF FRANKLIN, KENTUCKY ADJUSTABLE RATE DEDICATED TAX REVENUE BONDS, SERIES 2007 (SAVE THE GRAND THEATRE PROJECT, INC.) FOR WHICH THE ADDITIONAL TRANSIENT ROOM TAX WAS ADOPTED. THIS AMENDMENT CONCERNS THE APPLICATION OF THE ADDITIONAL TRANSIENT ROOM TAX TO THE COUNTY OF FRANKLIN, KENTUCKY DEDICATED TAX REVENUE AND REVENUE REFUNDING BONDS, SERIES 2025 (SAVE THE GRAND THEATRE PROJECT), IN AN AMOUNT NOT TO EXCEED ONE MILLION EIGHT HUNDRED THOUSAND DOLLARS ($1,800,000), WHICH ARE INTENDED TO FINANCE THE RENOVATION, REPAIR, RECONSTRUCTION AND EQUIPPING OF THE GRAND THEATRE AND TO REFUND A PORTION OF THE COUNTY OF FRANKLIN, KENTUCKY DEDICATED TAX REVENUE REFUNDING BONDS, SERIES 2015 (SAVE THE GRAND THEATRE PROJECT). (AS AMENDED). was given by Franklin County Fiscal Court on October 15, 2025, at 5:00 p.m. in the Fiscal Court Room at 321 West Main Street, Frankfort, Kentucky. A copy of the ordinance with full text is available for public inspection at the Office of the Franklin County Judge/Executive during normal business hours.
