City of Somerset Council Meeting Minutes March 24, 2025
Somerset approves $100M bonds for Ford Investments project
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Description
The City of Somerset approved Resolution 25-07 authorizing issuance of up to $100 million in taxable industrial building revenue bonds to assist C. M. Ford Investments, LLC in financing an industrial facility and related infrastructure. The action establishes the necessary trust, mortgage, and payment agreements to support the bond financing structure.
Contract Details
Contract Amount
Up to $90,000,000 (Series 2025A) and up to $10,000,000 (Series 2025B) in taxable industrial building revenue bonds
Vendor
C. M. FORD INVESTMENTS LLC
Agency
City of Somerset, KY
Contract Type
FINANCIAL_SERVICES
Document Date
March 24, 2025
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