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File #: O-228-14    Version: 1 Name:
Type: Ordinance Status: Passed
File created: 3/10/2014 In control: Budget Committee
On agenda: 3/27/2014 Final action: 3/27/2014
Title: AN ORDINANCE OF THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT, KENTUCKY, AUTHORIZING THE ISSUANCE OF ITS TAXABLE REVENUE BONDS, SERIES 2014 (LOUISVILLE MEDICAL CENTER LAUNDRY FACILITY PROJECT) IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $1,000,000 FOR THE PURPOSE OF FINANCING THE ACQUISITION, CONSTRUCTION AND INSTALLATION OF NEW AIR CONDITIONING EQUIPMENT, WASHING EQUIPMENT, LINEN CARTS AND RELATED EQUIPMENT AND PROPERTY FOR THE MEDICAL CENTER LAUNDRY; 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 BONDS. (Action Required By: September 2014)
Sponsors: David Tandy (D-4)
Attachments: 1. Exhibit A 2014 LMC Bond Purchase Agreement, 2. Exhibit B - 2014 LMC Laundry Trust Indenture, 3. Exhibit C - LMC Laundry Loan Agreement, 4. ORD 051 2014
ORDINANCE NO. _________, SERIES 2014
AN ORDINANCE OF THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT, KENTUCKY, AUTHORIZING THE ISSUANCE OF ITS TAXABLE REVENUE BONDS, SERIES 2014 (LOUISVILLE MEDICAL CENTER LAUNDRY FACILITY PROJECT) IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $1,000,000 FOR THE PURPOSE OF FINANCING THE ACQUISITION, CONSTRUCTION AND INSTALLATION OF NEW AIR CONDITIONING EQUIPMENT, WASHING EQUIPMENT, LINEN CARTS AND RELATED EQUIPMENT AND PROPERTY FOR THE MEDICAL CENTER LAUNDRY; 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 BONDS.
Sponsored by: COUNCILMAN DAVID TANDY
RECITALS:
WHEREAS, the Louisville/Jefferson County Metro Government, Kentucky ("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 and to loan the proceeds thereof in order to finance or refinance an "industrial building" suitable for use as a healthcare related facility and a facility related in any manner to or in furtherance of the educational purposes of a nonprofit educational institution; and
WHEREAS, Metro Government came into legal existence on January 6, 2003 by operation of law and voter approval in accordance with laws now codified as Chapter 67C of the Kentucky Revised Statutes and replaced and superseded the prior governments of both the City of Louisville, Kentucky (the "City") and the County of Jefferson, Kentucky (the "Predecessor County") and pursuant to law has mandatorily assumed all existing contracts and obligations of and has been endowed with all powers of the City and the Predecessor County; and
WHEREAS, the Medical Center Commission of Louisville/Jeffers...

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