ORDINANCE NO. ______, SERIES 2017
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AN ORDINANCE OF THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT, PROVIDING FOR AND AUTHORIZING THE ISSUANCE OF CERTAIN GENERAL OBLIGATION BONDS AND NOTES OF THE METRO GOVERNMENT IN ONE OR MORE SERIES TO FINANCE THE COSTS OF THE ACQUISITION AND REDEVELOPMENT OF BROWNFIELDS AND ADJACENT PROPERTIES IN THE BUTCHERTOWN STADIUM DISTRICT DEVELOPMENT AREA; SETTING FORTH THE TERMS AND CONDITIONS ON WHICH THE BONDS AND NOTES 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 NOTES AND PROVIDING FOR THE APPLICATION OF THE PROCEEDS THEREOF; AND TAKING OTHER RELATED ACTION RELATING TO THE ISSUANCE AND SALE OF THE BONDS AND NOTES.
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SPONSORED BY: COUNCIL MEMBERS SEXTON SMITH, AUBREY WELCH AND BRYANT HAMILTON
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 a portion of the costs of the acquisition and redevelopment of brownfields and adjacent properties located in the Butchertown Stadium District Development Area as a portion of the Butchertown Stadium District Redevelopment Project (the "Project"), through the incurrence of indebtedness as herein described by the sale and issuance of the Issuer's General Obligation Bonds and Notes, in one or more series (the "Bonds"), the payment of the principal thereof and interest thereon is secured by the full faith, credit and resou...
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