The agency that runs the Kentucky TriModal Transpark is reworking itself in recognition of Bowling Green’s decision last year to refinance the transpark’s bonds to the tune of $29.5 million.

On Thursday morning, Warren County magistrates gave a first round of approval to amended articles of incorporation for the Inter-Modal Transportation Authority.

Originally a creation of Warren County government, the ITA is being reincorporated as a joint city-county agency, with half its 24-member board being appointed by each governing body.

That brings the articles in line with the agency’s revised interlocal agreement, which states the relationship between city, county and ITA, said Curtis Sullivan, ITA board chairman.

“The city wanted to be more of an equal partner in writing, not just in spirit,” he said.

The change lets the mayor of Bowling Green formally appoint half the ITA’s board members.

Previously that had been done in practice, but the county judge-executive actually had the final legal say-so, Sullivan said.

The city must also approve the change, he said.

Western bonds

A $26 million bond issue for the Western Kentucky University Student Life Foundation won final approval, after getting a positive first hearing March 14.

The bonds will pay for renovation on dorms and expansion of the chill water plant, according to the ordinance. They will also be used to repay some 2006 bonds that bear a higher interest rate, the ordinance says.

The WKU Student Life Foundation is a nonprofit corporation formed by the university in 2000 to upgrade its dorms. While the county will issue the bonds, it won’t be liable for repaying them; that is legally the responsibility of the foundation, which draws on university students’ housing fees.

Lost River

Builders of the visitor center in Lost River Cave & Valley will have until June 30, 2009, to spend their $175,000 state appropriation, under an amended memorandum of agreement magistrates approved.

The cave supporters plan to build a new visitor center with an interactive theater and museum exhibits to handle more than 77,000 visitors a year to its 68 acres.

Friends of Lost River began getting the money, funneled through the county from the Governor’s Office of Local Development, in 2006.