ORDINANCE NO. ____, SERIES 2016
Title
AN ORDINANCE OF THE LOUISVILLE/JEFFERSON COUNTY METRO COUNCIL AUTHORIZING AN AMENDMENT TO THE INTEREST RATE OF THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT RECOVERY ZONE FACILITY REVENUE BONDS, SERIES 2010A (ECL PROPERTIES, LLC PROJECT); AND APPROVING, AUTHORIZING AND ACKNOWLEDGING THE EXECUTION AND DELIVERY OF (1) A FIRST AMENDMENT TO BOND PURCHASE AND LOAN AGREEMENT AMONG LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT, ECL PROPERTIES, LLC AND REPUBLIC BANK & TRUST COMPANY, A KENTUCKY BANKING CORPORATION (THE "BONDHOLDER"); (2) AMENDED AND RESTATED SERIES 2010A SPECIMEN BONDS (THE "AMENDED AND RESTATED BONDS"); AND (3) ALL OTHER RELATED DOCUMENTS NECESSARY THERETO.
Body
Sponsored by: Councilwoman Marianne Butler
WHEREAS, Louisville/Jefferson County Metro Government ("Metro Government") is a consolidated local government and political subdivision of the Commonwealth of Kentucky (the "Commonwealth") and as such is authorized by the Industrial Buildings for Cities and Counties Act, as amended, KRS 103.200 to 103.285 (the "Act"), to issue industrial building revenue bonds for the purpose of defraying the cost of any "industrial building" (as defined in the Act), including specifically land, buildings, improvements, equipment, machinery, and other facilities suitable for use as health-care or related facilities, in order to accomplish the public purpose of promoting the economic development of the Commonwealth, relieving conditions of unemployment, and encouraging the increase of industry therein, provided that such bonds are payable solely from the revenues derived from the industrial building and do not constitute an indebtedness of Metro Government within the meaning of the Constitution and laws of the Commonwealth.
WHEREAS, on December 2, 2010, by its Ordinance No. 233, Series 2010, the Metro Council of Louisville/Jefferson County Metro Government ("Metro Council"), after determining that the acq...
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