Kentucky Association of Counties

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The Kentucky Association of Counties

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SPOTLIGHT

Kentucky Association of Counties Leasing Trust


The Kentucky Association of Counties Leasing Trust (CoLT) was formed in 1989 to make tax exempt financing available to counties and their political subdivisions in more cost effective ways than available in the private sector. 

A governmental lease allows a county to borrow beyond the confines of the current fiscal year in its own name. This arrangement does not require that the county hire and pay underwriters, financial advisers, bond counsels or trustees, thus lowering their costs. In governmental lease financing, the county is leasing the money for the project, not the underlying asset, as one does in a traditional lease. This allows counties to always retain title to their property. 

CoLT has multiple partner banks with which to place a lease. Under the program, CoLT originates the governmental leases from our constituencies and administers the leases during their term, with partner banks buying them for their own portfolio rather than placing the leases in a blind trust. This arrangement offers more options to the lease recipient in the structure of their debt, and most importantly, a somewhat lower interest rate.

KACo Financial Services Team

Lonnie Campbell
Assistant Director of Financial Services
MSRB Registered Municipal Advisor
lonnie.campbell@kaco.org
502-234-5024

Kelly Collins-Mittler
Financial Services Finance Officer
MSRB Registered Municipal Advisor/Principal
kelly.mittler@kaco.org
502-234-5028

BJ White
Financial Services Accounts Receivable Officer
bj.white@kaco.org
502-234-5026

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Application

Kentucky Association of Counties
400 Englewood Drive, Frankfort, KY 40601