Franklin Approves $400M Kroger Distribution Center Bond
Franklin's Board of Commissioners approved $400 million in revenue bonds to finance a Kroger distribution facility. Kroger will repay the bonds through lease payments to the city.
Advertisement
The Franklin Board of Commissioners approved up to $400 million in industrial revenue bonds on April 13 to finance a Kroger distribution and fulfillment facility.
Kroger Limited Partnership II will lease the facility from the city. The company will retire the bonds through lease payments, meaning the debt does not fall on Franklin, Kentucky or any other political subdivision.
The board passed Resolution A-2026, which authorized the bond issuance under Kentucky Revised Statutes Chapter 103. Interest rates and payment terms will be set in the lease agreement and bond documents.
City Clerk Cathy Dillard's office has the full resolution and financing documents available for public inspection at 117 West Cedar Street, Monday through Friday from 8:30 a.m. to 4:30 p.m.
Discussion (0)
Join the Conversation
Join the conversation
Sign in to share your thoughts, reply to readers, and like comments.
No comments yet. Be the first to comment!