Louisville Metro Government - File #: O-282-22

• File #: O-282-22
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 9/19/2022
• In control: Budget Committee
• On agenda: 10/13/2022
• Final action: 10/13/2022
• Title: AN ORDINANCE OF THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT (THE "ISSUER") AUTHORIZING THE ISSUANCE OF REVENUE REFUNDING BONDS, SERIES 2022A (MASONIC HOMES OF KENTUCKY OBLIGATED GROUP) IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $25,000,000 FOR THE PURPOSES OF (A) REFUNDING EXISTING CREDIT FACILITIES BY AND BETWEEN MASONIC HOMES OF KENTUCKY, INC. (THE "CORPORATION" OR THE "BORROWER") AND CERTAIN AFFILIATES OF THE BORROWER AND OLD NATIONAL BANK F/K/A FIRST MIDWEST BANK, THE PROCEEDS OF WHICH WERE COLLECTIVELY USED TO FINANCE THE COSTS OF A DAY CARE, PRESCHOOL FACILITY, CORPORATE RESOURCES CENTER, SENIOR ADULT ASSISTED LIVING FACILITIES, AND SENIOR ADULT INDEPENDENT LIVING FACILITIES KNOWN AS THE VILLAGES, ALL LOCATED ON THE CAMPUS OF CORPORATION WITHIN THE JURISDICTIONAL BOUNDARIES OF THE ISSUER, AND (B) PAYING COSTS OF ISSUANCE OF THE BONDS; AUTHORIZING THE EXECUTION AND DELIVERY OF A BOND FINANCING AGREEMENT AND A TAX COMPLIANCE CERTIFICATE AND AGREEMENT; AUTHORIZING AND APPRO...
• Sponsors: Bill Hollander (D-9)

Date	Ver.	Action By	Action	Result
10/13/2022	1	Metro Council	passed
10/6/2022	1	Budget Committee	recommended for approval	Pass
9/22/2022	1	Metro Council	assigned

ORDINANCE NO. ______________, SERIES 2022
Title
AN ORDINANCE OF THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT (THE "ISSUER") AUTHORIZING THE ISSUANCE OF REVENUE REFUNDING BONDS, SERIES 2022A (MASONIC HOMES OF KENTUCKY OBLIGATED GROUP) IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $25,000,000 FOR THE PURPOSES OF (A) REFUNDING EXISTING CREDIT FACILITIES BY AND BETWEEN MASONIC HOMES OF KENTUCKY, INC. (THE "CORPORATION" OR THE "BORROWER") AND CERTAIN AFFILIATES OF THE BORROWER AND OLD NATIONAL BANK F/K/A FIRST MIDWEST BANK, THE PROCEEDS OF WHICH WERE COLLECTIVELY USED TO FINANCE THE COSTS OF A DAY CARE, PRESCHOOL FACILITY, CORPORATE RESOURCES CENTER, SENIOR ADULT ASSISTED LIVING FACILITIES, AND SENIOR ADULT INDEPENDENT LIVING FACILITIES KNOWN AS THE VILLAGES, ALL LOCATED ON THE CAMPUS OF CORPORATION WITHIN THE JURISDICTIONAL BOUNDARIES OF THE ISSUER, AND (B) PAYING COSTS OF ISSUANCE OF THE BONDS; AUTHORIZING THE EXECUTION AND DELIVERY OF A BOND FINANCING AGREEMENT AND A TAX COMPLIANCE CERTIFICATE AND AGREEMENT; AUTHORIZING AND APPROVING CERTAIN OTHER MATTERS, INCLUDING THE EXECUTION OF RELATED DOCUMENTS, IN CONNECTION WITH THE SALE AND ISSUANCE OF THE BONDS.
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SPONSORED BY: COUNCIL MEMBER BILL HOLLANDER

WHEREAS, the Louisville/Jefferson County Metro Government (the "Issuer"), is a political subdivision of the Commonwealth of Kentucky (the "Commonwealth") and is authorized by Sections 103.200 to 103.285, inclusive, of the Kentucky Revised Statutes, as amended (the "Act"), to issue revenue bonds and to loan the proceeds thereof to third parties in order to finance and refinance costs of any "industrial building," as defined in the Act, utilized in the provision of health-care or related services; and
WHEREAS, Masonic Homes of Kentucky, Inc., a Kentucky nonprofit corporation (the "Corporation" or the "Borrower"), proposes that the Issuer, pursuant to the Act, assist the Corporation in ...