Commission Passes Refinance Ordinance for ITA Bonds

In its first reading, the Bowling Green City Commission passes an ordinance to refinance Intermodal Transportation Authority bonds.

But it didn't happen without some opposition.

The Kentucky Trimodal Transpark property was originally paid for with $25-million worth of mortgage bonds, issued in February of 2002.

On Oct. 2, the City Commission voted 4-to-1 to refinance the ITA bonds using general obligation bonds.

Commissioner Brian Strow was the lone "no vote."

"In my role as protector of city finances, I thought it was inappropriate to accept the higher payments and a much greater risk," Strow explained.

Commissioners Wilkerson, Denning and Nash, and Mayor Walker all said the city would receive the most benefit as opposed to the entire county.

Commissioner Joe Denning referred to the city's support for Western Kentucky University and the success that has been brought to Bowling Green.

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