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File #: R-157-17    Version: 1 Name:
Type: Resolution Status: Passed
File created: 10/5/2017 In control: Labor and Economic Development Committee
On agenda: 10/26/2017 Final action: 10/26/2017
Title: A RESOLUTION OF THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT AUTHORIZING THE ISSUANCE OF ITS COLLEGE IMPROVEMENT REVENUE REFUNDING BONDS, SERIES 2017 (BELLARMINE UNIVERSITY PROJECT), IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $45,000,000, IN ONE OR MORE SERIES, ON A TAX-EXEMPT OR TAXABLE BASIS (OR COMBINATION THEREOF), THE PROCEEDS OF WHICH SHALL BE LOANED TO BELLARMINE UNIVERSITY INCORPORATED, A KENTUCKY NONPROFIT CORPORATION (THE "BORROWER"), IN ORDER TO REFINANCE CERTAIN OUTSTANDING BONDS WHICH ARE OBLIGATIONS OF THE CORPORATION AND TO PAY CERTAIN COSTS OF ISSUANCE; AUTHORIZING A TRUST INDENTURE, A LOAN AGREEMENT, A BOND PURCHASE AGREEMENT, AND OTHER RELATED DOCUMENTS; AND AUTHORIZING OTHER ACTIONS IN CONNECTION WITH THE ISSUANCE OF SUCH BONDS.
Sponsors: Cheri Bryant Hamilton (D-5)
Attachments: 1. R-157-17 V.1 101217 College Improvement Revenue Refunding Bonds Bellarmine.pdf, 2. RES 113 2017.pdf
RESOLUTION NO. __, SERIES 2017
TITLE
A RESOLUTION OF THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT AUTHORIZING THE ISSUANCE OF ITS COLLEGE IMPROVEMENT REVENUE REFUNDING BONDS, SERIES 2017 (BELLARMINE UNIVERSITY PROJECT), IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $45,000,000, IN ONE OR MORE SERIES, ON A TAX-EXEMPT OR TAXABLE BASIS (OR COMBINATION THEREOF), THE PROCEEDS OF WHICH SHALL BE LOANED TO BELLARMINE UNIVERSITY INCORPORATED, A KENTUCKY NONPROFIT CORPORATION (THE "BORROWER"), IN ORDER TO REFINANCE CERTAIN OUTSTANDING BONDS WHICH ARE OBLIGATIONS OF THE CORPORATION AND TO PAY CERTAIN COSTS OF ISSUANCE; AUTHORIZING A TRUST INDENTURE, A LOAN AGREEMENT, A BOND PURCHASE AGREEMENT, AND OTHER RELATED DOCUMENTS; AND AUTHORIZING OTHER ACTIONS IN CONNECTION WITH THE ISSUANCE OF SUCH BONDS.
BODY
SPONSORED BY: COUNCIL MEMBER BRYANT HAMILTON

WHEREAS, the Louisville/Jefferson County Metro Government (the "Issuer") is a consolidated local government and political subdivision of the Commonwealth of Kentucky (the "Commonwealth") organized and existing under the Constitution and laws of the Commonwealth and as such is authorized under the Industrial Buildings for Cities and Counties Act, Sections 103.200 to 103.285 of the Kentucky Revised Statutes, (the "Act") to issue its industrial building revenue bonds and lend 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 for nonprofit educational institutions in furtherance of the educational purposes of such institutions, in order to accomplish thereby the public purposes of promoting the economic development of the Commonwealth, relieving conditions of unemployment and encouraging the increase of industry therein, provided that such bonds are payable solely from the loan repayments an...

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