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File #: O-236-18    Version: 1 Name:
Type: Ordinance Status: Passed
File created: 7/23/2018 In control: Labor, Economic Development and Contracts Committee
On agenda: 8/9/2018 Final action: 8/9/2018
Title: AN ORDINANCE OF THE LOUISVILLE/JEFFERSON COUNTY METRO COUNCIL AUTHORIZING AND PROVIDING FOR THE ISSUANCE AND SALE OF LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT INDUSTRIAL BUILDING REVENUE BONDS, SERIES 2018 (THE MARSHALL AT LOUISVILLE PROJECT) AND TAKING OTHER RELATED ACTION
Sponsors: David James (D-6), Marianne Butler (D-15)
Attachments: 1. O-236-18 V.1 072618 Industrial Revenue Bonds The Marshall at Louisville Project.pdf, 2. O-236-18 V.1 072618 ATTACH Lease and Finance Agreement.pdf, 3. O-236-18 V.1 072618 ATTACH Bill of Sale.pdf, 4. O-236-18 V.1 072618 ATTACH Payment in Lieu of Tax Agreement.pdf, 5. O-236-18 V.1 072618 ATTACH General Warranty Deed.pdf, 6. O-236-18 V.1 072618 ATTACH Bond Purchase Agreement.pdf, 7. ORD 122 2018.pdf
ORDINANCE NO. ______, SERIES 2018
title
AN ORDINANCE OF THE LOUISVILLE/JEFFERSON COUNTY METRO COUNCIL AUTHORIZING AND PROVIDING FOR THE ISSUANCE AND SALE OF LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT INDUSTRIAL BUILDING REVENUE BONDS, SERIES 2018 (THE MARSHALL AT LOUISVILLE PROJECT) AND TAKING OTHER RELATED ACTION
body
SPONSORED BY: COUNCIL MEMBER MARIANNE BUTLER
AND PRESIDENT DAVID JAMES

Recitals
A. Louisville/Jefferson County Metro Government ("Metro Government") is a consolidated local government and political subdivision of the Commonwealth of Kentucky (the "Commonwealth") and as such is authorized by the Industrial Buildings for Cities and Counties Act, as amended, Sections 103.200 to 103.285 of the Kentucky Revised Statutes (the "Act"), to issue industrial building revenue bonds for the purpose of defraying the cost of any "industrial building" (as defined in the Act), including specifically, as provided in KRS 103.200(1)(n), land, buildings, improvements, equipment, machinery, and other facilities suitable for any activity, including new construction, designed for revitalization or redevelopment of downtown business districts as designated by Metro Government, subject to the review and approval of the State Local Debt Officer (the "SLDO") pursuant to KRS 103.2101(1), in order to accomplish 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 revenues derived from the industrial building and do not constitute an indebtedness of Metro Government within the meaning of the Constitution and laws of the Commonwealth.
B. Aptitude 4th Street, LLC (the "Company"), a Kentucky limited liability company, has applied to Metro Government for (i) the issuance pursuant to the Act of industrial building revenue bonds of Metro Government in a principal amount not t...

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