RESOLUTION NO. ______, SERIES 2026
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A RESOLUTION OF THE LEGISLATIVE COUNCIL OF LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT (THE "ISSUER") AUTHORIZING THE EXECUTION OF A MEMORANDUM OF AGREEMENT BETWEEN THE ISSUER AND WESLEY MANOR RETIREMENT COMMUNITY, INC. (THE "CORPORATION"), A NON-PROFIT CORPORATION, AND/OR ANY WHOLLY-OWNED SUBSIDIARY OF THE CORPORATION (COLLECTIVELY KNOWN AS THE "BORROWER") RELATING TO THE FINANCING THROUGH THE ISSUANCE OF THE ISSUER'S BOND ANTICIPATION NOTES IN A PRINCIPAL AMOUNT NOT TO EXCEED $6,200,000 (THE "NOTES") FOR CERTAIN COSTS INCURRED PRIOR TO THE ACQUISITION, CONSTRUCTION, INSTALLATION, AND EQUIPPING OF LONG-TERM HEALTHCARE AND HEALTH RELATED FACILITIES LOCATED AT 5012 AND 5400 EAST MANSLICK ROAD, LOUISVILLE, KENTUCKY (THE "PROJECT"); AGREEING TO UNDERTAKE THE ISSUANCE OF ONE OR MORE NOTES TO EFFECT THE PROJECT FINANCING IN AN AGGREGATE AMOUNT NOT TO EXCEED $6,200,000 AND AT THE APPROPRIATE TIME TO PAY FOR COSTS OF THE PROJECT; AND TAKING OTHER PRELIMINARY ACTION.
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SPONSORED BY: COUNCIL MEMBER BATSHON
WHEREAS, Wesley Manor Retirement Community, Inc. (the "Company"), a Kentucky non-profit corporation and organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, and/or any of the Company's wholly-owned subsidiaries (collectively, the "Borrower") in connection with the Industrial Building for Cities and Counties Act, as amended, Sections 103.200 to 103.285 of the Kentucky Revised Statutes (the "Act") desires to (i) finance certain costs to be incurred prior to the commencement of the acquisition, construction, installation, and equipping of long-term healthcare and health related facilities located at 5012 and 5400 East Manslick Road, Louisville, Kentucky, including the construction, installation, and equipping of approximately 147 independent living units (the "Project"), as provided for in Section 103.200 of the Kentucky Revised Statutes and (ii) pay the costs of issuance; and
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