ORDINANCE NUMBER ______, SERIES 2017
Title
AN ORDINANCE OF THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT (THE "METRO GOVERNMENT" OR THE "ISSUER"), PROVIDING FOR AND AUTHORIZING THE ISSUANCE OF CERTAIN GENERAL OBLIGATION BONDS OF THE METRO GOVERNMENT IN ONE OR MORE SERIES TO FINANCE THE COSTS OF THE PUBLIC PROJECTS AS DESCRIBED THEREIN; SETTING FORTH THE TERMS AND CONDITIONS ON WHICH THE BONDS ARE TO BE ISSUED AND PROVIDING FOR A COMPETITIVE, ADVERTISED SALE THEREOF; DEFINING AND PROVIDING FOR THE RIGHTS OF THE HOLDERS OF THE BONDS AND PROVIDING FOR THE APPLICATION OF THE PROCEEDS THEREOF; AND TAKING OTHER RELATED ACTION RELATING TO THE ISSUANCE AND SALE OF THE BONDS.
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SPONSORED BY: COUNCIL MEMBER BUTLER
WHEREAS, in the November 7, 2000 General Election, local voters approved a consolidation of the governmental and corporate functions of the City of Louisville, Kentucky (the "City") and the County of Jefferson, Kentucky (the "County") into a single political entity, and pursuant to legislation enacted by the Kentucky General Assembly, the Louisville/Jefferson County Metro Government (the "Issuer") commenced operations effective January 6, 2003, replacing and superseding the governments of the City and the County;
WHEREAS, the Issuer has determined that it is necessary, desirable and in the public interest to finance the costs of the public projects, including costs of (i) the acquisition, construction and equipping of various public projects as described in the Issuer's 2017-18 Capital Project Budget set forth in the Issuer's Ordinance No. 115, Series 2017 and (ii) the acquisition, installation and maintenance of equipment and vehicles for various departments and agencies of the Issuer, hereinafter described, through the incurrence of indebtedness as herein described by the sale and issuance of the Issuer's "Tax-Exempt General Obligation Bonds, Series 2017A" (the "Series 2017A Bonds"), the payment of the principal thereof and interest thereon ...
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