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File #: O-158-16    Version: 1 Name:
Type: Ordinance Status: Passed
File created: 5/20/2016 In control: Labor and Economic Development Committee
On agenda: 6/9/2016 Final action: 6/9/2016
Title: AN ORDINANCE OF THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT, KENTUCKY, (I) AUTHORIZING THE ISSUANCE OF ITS HEALTH SYSTEM REVENUE BONDS, SERIES 2016 (NORTON HEALTHCARE, INC.) IN ONE OR MORE SERIES IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $725,000,000, THE PROCEEDS OF WHICH SHALL BE LOANED TO NORTON HEALTHCARE, INC. AND NORTON HOSPITALS, INC. TO (A) PAY OR REIMBURSE NORTON HEALTHCARE, INC. AND NORTON HOSPITALS, INC. FOR THE COSTS OF ACQUIRING, CONSTRUCTING, RENOVATING AND EQUIPPING CERTAIN HEALTH CARE FACILITIES OF NORTON HEALTHCARE, INC. AND CERTAIN AFFILIATES, AND (B) REFUND AND RETIRE CERTAIN OUTSTANDING INDEBTEDNESS, AND (II) TAKING OTHER RELATED ACTION.
Sponsors: Cheri Bryant Hamilton (D-5), Pat Mulvihill (D-10)
Attachments: 1. Exhibit A1 - Form of Indenture (Series 2016A), 2. Exhibit A2- Form of Indenture (Series 2016 B-C), 3. Exhibit B1 - Form of Loan Agreement (2016A), 4. Exhibit B2 - Form of Loan Agreement (2016B-C), 5. Exhibit C1 - Form of Bond Purchase Agreement (2016A), 6. Exhibit C2 - Form of Bond Purchase Agreement (2016B-C), 7. 0531616 Norton Healthcare 2016 Plan of Finance, 8. ORD 081 2016
ORDINANCE NO._____ SERIES 2016
Title
AN ORDINANCE OF THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT, KENTUCKY, (I) AUTHORIZING THE ISSUANCE OF ITS HEALTH SYSTEM REVENUE BONDS, SERIES 2016 (NORTON HEALTHCARE, INC.) IN ONE OR MORE SERIES IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $725,000,000, THE PROCEEDS OF WHICH SHALL BE LOANED TO NORTON HEALTHCARE, INC. AND NORTON HOSPITALS, INC. TO (A) PAY OR REIMBURSE NORTON HEALTHCARE, INC. AND NORTON HOSPITALS, INC. FOR THE COSTS OF ACQUIRING, CONSTRUCTING, RENOVATING AND EQUIPPING CERTAIN HEALTH CARE FACILITIES OF NORTON HEALTHCARE, INC. AND CERTAIN AFFILIATES, AND (B) REFUND AND RETIRE CERTAIN OUTSTANDING INDEBTEDNESS, AND (II) TAKING OTHER RELATED ACTION.
Body
SPONSORED BY: Councilwoman Cheri Bryant Hamilton and Councilman Pat Mulvihill

WHEREAS, the Louisville/Jefferson County Metro Government (the "Metro Government") is a consolidated local government organized and validly existing under the Constitution and laws of the Commonwealth of Kentucky (the "Commonwealth") and as such is authorized under the Industrial Buildings for Cities and Counties Act, Sections 103.200 to 103.285 of the KRS, as amended (the "Act"), to issue its industrial building revenue bonds and loan the proceeds thereof to any person to defray the costs of acquiring, constructing, and equipping an "industrial building" (as defined in the Act), including specifically any buildings, structures, and facilities, including the site thereof and machinery, equipment, and furnishings suitable for use as health care or related facilities, including without limitation, hospitals, clinics, nursing homes, research facilities, extended or long-term care facilities, including housing for the aged or the infirm and all buildings, structures, and facilities deemed necessary or useful in connection therewith, in order to accomplish thereby the public purposes of promoting the economic development of the Commonwealth and encouraging the increase of indust...

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