A Resolution of the Kenton County Airport Board

A Resolution of the Kenton County Airport Board A RESOLUTION OF THE KENTON COUNTY AIRPORT BOARD AUTHORIZING A LEASE(S) FOR THE FINANCING OF CERTAIN EQUIPMENT FOR USE AT THE CINCINNATI/NORTHERN KENTUCKY INTERNATIONAL AIRPORT (CVG) RECITALS The Kenton County Airport Board (the "Board"), a public and governmental body politic and corporate, constituting a political subdivision of and created and existing pursuant to the statutory laws of the Commonwealth of Kentucky, including Chapter 183 of the Kentucky Revised Statutes (the "Act"), is the governmental operator of the Cincinnati/Northern Kentucky International Airport (the "Airport"); The Board is authorized, pursuant to KRS 65.940 et seq to enter lease agreements with or without the option to purchase in order to provide for the use of personal or real property for public purposes on terms that are deemed appropriate; The Board has determined it is necessary to acquire and equip two (2) roadway sweepers for use at the Airport (the "Equipment"); The Board adopted a General Bond Ordinance on May 16, 2016 (the "General Bond Resolution") which authorizes the Board to issue Senior Bonds and Subordinate Bonds from time to time for Airport purposes (as such terms are defined in the General Bond Resolution); The Board has determined it is in the best interests of the Board in its operation of the Airport to authorize the Board's Chief Executive Officer ("CEO") or his designee to take all steps necessary to solicit, negotiate the terms and conditions, and execute leases for the Equipment for use at the Airport. NOW, THEREFORE, be it resolved by the Board as follows: Section 1. The Recitals above are incorporated by this reference as if fully restated in this Section in their entirety. Section 2. Pursuant to KRS 65.940, the Board hereby authorizes the CEO to negotiate the terms and conditions of a lease(s) for the Equipment and to execute and deliver all other agreements or certifications which may be necessary to accomplish the acquisition and equipping of the Equipment (the "Lease"). Section 3. The Lease must comply with the General Bond Resolution, including without limitation Section 8.09 which precludes liens on Airport property. The Lease will have a term of up to sixty (60) months and include Lease payments up to $535,000 in total for the Equipment. Section 4. Severability. If any section, paragraph or provision of this Resolution is held to be invalid or unenforceable for any reason, the invalidity or unenforceability of the section, paragraph or provision will not affect any of the remaining provisions of this Resolution. Section 5. Effective Date. This Resolution takes effect at and after its passage, as provided by law. December 8 2025 LWOO0419397