RESOLUTION NO. ______, SERIES 2026
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A RESOLUTION OF THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT AUTHORIZING THE ISSUANCE OF ITS HEALTHCARE FACILITIES REVENUE BOND ANTICIPATION NOTES (WESLEY OAKS SENIOR LIVING EXPANSION PROJECT), SERIES 2026 (THE “NOTES”) IN ONE OR MORE SERIES IN AN INITIAL AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $6,200,000; AUTHORIZING THE LOAN OF THE PROCEEDS OF THE NOTES TO 5400 EAST MANSLICK, LLC, A KENTUCKY NONPROFIT LIMITED LIABILITY COMPANY, TO (A) FINANCE 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 AND (B) PAY A PORTION OF THE COSTS OF ISSUANCE; APPROVING THE SALE OF THE NOTES TO THE PURCHASER THEREOF; AUTHORIZING THE EXECUTION AND DELIVERY OF A LOAN AGREEMENT, TRUST INDENTURE, AND NOTE PURCHASE AGREEMENT GOVERNING THE SALE AND ISSUANCE OF THE NOTES AND THE USE OF THE PROCEEDS THEREOF; APPROVING A PRELIMINARY LIMITED OFFERING MEMORANDUM AND A LIMITED OFFERING MEMORANDUM TO BE UTILIZED IN THE SALE OF THE NOTES; AUTHORIZING ANY AND ALL OTHER RELATED DOCUMENTS; AND AUTHORIZING THE TAKING OF OTHER ACTION.
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SPONSORED BY: COUNCIL MEMBERS MULVEY-WOOLRIDGE
AND BRATCHER
WHEREAS, Louisville/Jefferson County Metro Government (“Louisville Metro”), pursuant to the provisions of Sections 103.200 to 103.285, inclusive, of the Kentucky Revised Statutes (“KRS”), as amended (the “Act”), is specifically authorized and empowered to issue its revenue bond anticipation notes and loan the proceeds for the sale thereof to 5400 East Manslick, LLC, a Kentucky nonprofit limited liability company (the “Borrower”), to finance and defray the costs of the acquisition, construction, installation, and equipping of “buildings” and “industrial buildings” comprising healthcare and health related facilities, all as defined and authorized by the Act;
WHEREAS, the Borrower, a wholly-owned subsi...
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