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File #: O-180-22    Version: Name:
Type: Ordinance Status: Passed
File created: 5/16/2022 In control: Metro Council
On agenda: 6/23/2022 Final action: 6/23/2022
Title: AN ORDINANCE OF THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT (THE "ISSUER") AUTHORIZING THE ISSUANCE OF BONDS IN THE AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $119,000,000 AND DENOMINATED LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT INDUSTRIAL BUILDING REVENUE BONDS (BOYD REAL PROPERTY, LLC PROJECT), SERIES 2022 (THE "BONDS"); APPROVING AND AUTHORIZING THE EXECUTION AND DELIVERY OF (i) A TRUST INDENTURE (THE "INDENTURE"), BETWEEN THE ISSUER AND U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, AS TRUSTEE (THE "TRUSTEE") SECURING THE BONDS, (ii) A LEASE AGREEMENT, BY AND BETWEEN THE ISSUER AND BOYD REAL PROPERTY, LLC (THE "LESSEE"), (iii) A BOND PURCHASE AGREEMENT, BY AND AMONG THE ISSUER, THE LESSEE AND BOYD COMPANY (THE "BOND PURCHASER"), (iv) AN IN-LIEU OF TAX PAYMENTS AGREEMENT, BY AND BETWEEN THE ISSUER AND THE LESSEE, (v) A HOME OFFICE PAYMENTS AGREEMENT, BY AND AMONG THE ISSUER, THE TRUSTEE, THE LESSEE AND THE BOND PURCHASER, AND (vi) ANY AND ALL OTHER RELATED DOCUMENTS; AND THE ...
Sponsors: Angela Bowens (D-1)
Attachments: 1. O-180-22 V.2 CAM 061422 Revenue Bond for Boyd Co.pdf, 2. O-180-22 ATTACH EXHIBIT A - Lease_Agreement_(Boyd_2022).pdf, 3. O-180-22 ATTACH EXHIBIT B - Trust_Indenture_(Boyd_2022).pdf, 4. O-180-22 ATTACH EXHIBIT C - Bond_Purchase_Agreement_(Boyd_2022).pdf, 5. O-180-22 ATTACH EXHIBIT D - PILOT Agreement - Boyd.pdf, 6. O-180-22 ATTACH EXHIBIT E - Home_Office_Payments_(Boyd_2022).pdf, 7. O-180-22 ATTACH EXHIBIT F - Memorandum of Understanding.pdf, 8. O-180-22 V.1 051922 Revenue Bond for Boyd Co.pdf, 9. Boyd Hollenbach Oakley Presentation for Labor and Economic Development Committee 05-31-22 (1).pdf, 10. ORD 087 2022.pdf
ORDINANCE NO. ______________, SERIES 2022
Title
AN ORDINANCE OF THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT (THE "ISSUER") AUTHORIZING THE ISSUANCE OF BONDS IN THE AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $119,000,000 AND DENOMINATED LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT INDUSTRIAL BUILDING REVENUE BONDS (BOYD REAL PROPERTY, LLC PROJECT), SERIES 2022 (THE "BONDS"); APPROVING AND AUTHORIZING THE EXECUTION AND DELIVERY OF (i) A TRUST INDENTURE (THE "INDENTURE"), BETWEEN THE ISSUER AND U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, AS TRUSTEE (THE "TRUSTEE") SECURING THE BONDS, (ii) A LEASE AGREEMENT, BY AND BETWEEN THE ISSUER AND BOYD REAL PROPERTY, LLC (THE "LESSEE"), (iii) A BOND PURCHASE AGREEMENT, BY AND AMONG THE ISSUER, THE LESSEE AND BOYD COMPANY (THE "BOND PURCHASER"), (iv) AN IN-LIEU OF TAX PAYMENTS AGREEMENT, BY AND BETWEEN THE ISSUER AND THE LESSEE, (v) A HOME OFFICE PAYMENTS AGREEMENT, BY AND AMONG THE ISSUER, THE TRUSTEE, THE LESSEE AND THE BOND PURCHASER, AND (vi) ANY AND ALL OTHER RELATED DOCUMENTS; AND THE TAKING OF OTHER RELATED ACTION (AS AMENDED).
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SPONSORED BY: COUNCIL MEMBER ANGELA BOWENS

WHEREAS, the Louisville/Jefferson County Metro Government (the "Issuer"), pursuant to the provisions of Sections 103.200 to 103.285, inclusive, of the Kentucky Revised Statutes, as amended (the "Act"), is specifically authorized and empowered to issue up to $119,000,000 of its Louisville/Jefferson County Metro Government Industrial Building Revenue Bonds (Boyd Real Property, LLC Project), Series 2022 (the "Bonds"), hereinafter approved; and
WHEREAS, Boyd Real Property, LLC, a Kentucky limited liability company (the "Lessee"), proposes that the Issuer, pursuant to the Act, assist the Lessee in financing the acquisition, construction, equipping and installation of four or more new buildings at 1400 Cecil Avenue in the City of Louisville, Kentucky; all for lease to the L...

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