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File #: O-002-20    Version: 1 Name:
Type: Ordinance Status: Passed
File created: 1/6/2020 In control: Labor and Economic Development Committee
On agenda: 2/6/2020 Final action: 2/6/2020
Title: AN ORDINANCE OF THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT, KENTUCKY, (I) AUTHORIZING THE ISSUANCE OF ITS HEALTH SYSTEM REVENUE BONDS (NORTON HEALTHCARE, INC.), SERIES 2020 IN ONE OR MORE SERIES IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $600,000,000, 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: Bill Hollander (D-9)
Attachments: 1. O-002-20 V.1 010920 Norton Bond.pdf, 2. O-002-20 V.1 010920 ATTACH Exhibit A - Bond Indenture.pdf, 3. O-002-20 V.1 010920 ATTACH Exhibit B - Loan Agreement.pdf, 4. O-002-20 V.1 010920 ATTACH Exhibit C - Bond Purchase Contract.pdf, 5. Bond Ordinance (Norton Series 2020) 4164-6115-4080 4.pdf, 6. Memo to Economic Development Committee 4165-5657-5265 2.pdf, 7. Norton Healthcare - 2020 Plan of Finance and System Fact Sheet.pdf, 8. ORD 006 2020.pdf, 9. ORD 006 2020 (Attachment Exhibit A).pdf, 10. ORD 006 2020 (Attachment) Exhibit B.pdf, 11. ORD 006 2020 (Attachment) Exhibit C.pdf
ORDINANCE NO. _____, SERIES 2020
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AN ORDINANCE OF THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT, KENTUCKY, (I) AUTHORIZING THE ISSUANCE OF ITS HEALTH SYSTEM REVENUE BONDS (NORTON HEALTHCARE, INC.), SERIES 2020 IN ONE OR MORE SERIES IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $600,000,000, 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.
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SPONSORED BY: COUNCILMEMBER BILL HOLLANDER
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 industry therein, PROVIDED THAT SUCH BON...

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