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File #: O-280-16    Version: 1 Name:
Type: Ordinance Status: Passed
File created: 8/8/2016 In control: Labor and Economic Development Committee
On agenda: 8/25/2016 Final action: 8/25/2016
Title: AN ORDINANCE OF THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT, KENTUCKY, AUTHORIZING THE ISSUANCE OF ITS TAXABLE REFUNDING REVENUE BONDS, SERIES 2016 (LOUISVILLE MEDICAL CENTER STEAM AND CHILLED WATER PLANT PROJECT) IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $8,500,000 FOR THE PURPOSES OF (A) REFUNDING THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT, KENTUCKY, LOUISVILLE MEDICAL CENTER TAXABLE REVENUE BONDS, SERIES 2011, AND (B) PAYING COSTS OF ISSUANCE OF THE SERIES 2016 BONDS; AUTHORIZING THE EXECUTION AND DELIVERY OF A BOND TRUST INDENTURE, LOAN AGREEMENT, AND BOND PURCHASE AGREEMENT; AUTHORIZING AND APPROVING CERTAIN OTHER MATTERS, INCLUDING THE EXECUTION OF RELATED DOCUMENTS, IN CONNECTION WITH THE SALE AND ISSUANCE OF THE SERIES 2016 BONDS.
Sponsors: Cheri Bryant Hamilton (D-5)
Attachments: 1. O-280-16 ATTACH Exhibit A - Bond Purchase Agreement, 2. O-280-16 ATTACH Exhibit B - Bond Trust Indenture, 3. O-280-16 ATTACH Exhibit C - Loan Agreement, 4. Exhibit B - Bond Trust Indenture, 5. Exhibit C - Loan Agreement, 6. ORD 149 2016
ORDINANCE NO. _________, SERIES 2016
Title
AN ORDINANCE OF THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT, KENTUCKY, AUTHORIZING THE ISSUANCE OF ITS TAXABLE REFUNDING REVENUE BONDS, SERIES 2016 (LOUISVILLE MEDICAL CENTER STEAM AND CHILLED WATER PLANT PROJECT) IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $8,500,000 FOR THE PURPOSES OF (A) REFUNDING THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT, KENTUCKY, LOUISVILLE MEDICAL CENTER TAXABLE REVENUE BONDS, SERIES 2011, AND (B) PAYING COSTS OF ISSUANCE OF THE SERIES 2016 BONDS; AUTHORIZING THE EXECUTION AND DELIVERY OF A BOND TRUST INDENTURE, LOAN AGREEMENT, AND BOND PURCHASE AGREEMENT; AUTHORIZING AND APPROVING CERTAIN OTHER MATTERS, INCLUDING THE EXECUTION OF RELATED DOCUMENTS, IN CONNECTION WITH THE SALE AND ISSUANCE OF THE SERIES 2016 BONDS.
Body
Sponsored by: Councilwoman Hamilton

WHEREAS, the Louisville/Jefferson County Metro Government ("Metro Government") is a political subdivision of the Commonwealth of Kentucky (the "Commonwealth") and is authorized by Sections 103.200 through 103.285 of the Kentucky Revised Statutes, as amended (the "Act"), to issue revenue bonds or refunding bonds and to loan the proceeds thereof to third parties in order to finance and refinance costs of an "industrial building," as that term is defined in the Act, utilized in the provision of healthcare and nonprofit educational services; and
WHEREAS, Louisville Medical Center, Inc., a Kentucky nonprofit corporation (the "Corporation"), owns the steam and chilled water plant located at 235 Abraham Flexner Way, Louisville, Kentucky 40202 (the "Plant"), which provides steam and chilled water to certain healthcare and nonprofit educational institutions in downtown Louisville; and
WHEREAS, Metro Government previously issued its Louisville/Jefferson County Metro Government, Kentucky, Louisville Medical Center Taxable Revenue Bonds, Series 2011 in the original principal amount of $11,000,000 (the "Series 2011 Bonds...

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