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File #: O-186-20    Version: 1 Name:
Type: Ordinance Status: Passed
File created: 5/7/2020 In control: Metro Council
On agenda: 6/25/2020 Final action: 6/25/2020
Title: AN ORDINANCE APPROVING THE THIRTY-FIRST SUPPLEMENTAL SEWER AND DRAINAGE SYSTEM REVENUE BOND RESOLUTION ADOPTED BY THE BOARD OF THE LOUISVILLE AND JEFFERSON COUNTY METROPOLITAN SEWER DISTRICT AUTHORIZING THE ISSUANCE OF THE DISTRICT'S SEWER AND DRAINAGE SYSTEM REVENUE BONDS, SERIES 2020A
Sponsors: Brandon Coan (D-8)
Attachments: 1. O-186-20 V.1 051420 Sewer & Drainage System Revenue Bonds.pdf, 2. Presentation RE 2020A Bond for Metro Public Works Committee 6.16.2020.pdf, 3. ORD 074 2020.pdf
ORDINANCE NO. ___, SERIES 2020
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AN ORDINANCE APPROVING THE THIRTY-FIRST SUPPLEMENTAL SEWER AND DRAINAGE SYSTEM REVENUE BOND RESOLUTION ADOPTED BY THE BOARD OF THE LOUISVILLE AND JEFFERSON COUNTY METROPOLITAN SEWER DISTRICT AUTHORIZING THE ISSUANCE OF THE DISTRICT'S SEWER AND DRAINAGE SYSTEM REVENUE BONDS, SERIES 2020A
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SPONSORED BY: COUNCIL MEMBER BRANDON COAN

WHEREAS, pursuant to Chapter 76 of the Kentucky Revised Statutes (the "Act"), the Louisville and Jefferson County Metropolitan Sewer District (the "District") has been created and organized as a public body corporate and political subdivision of the Commonwealth of Kentucky, having jurisdiction, control, possession, and supervision of the sewer and drainage system in Louisville and Jefferson County (the "System") and has the power and authority to maintain, operate, reconstruct and improve the System, to make additions, betterments and improvements to the System, and to issue its negotiable interest-bearing notes and bonds for any of its corporate purposes; and
WHEREAS, the District has determined that it is necessary and desirable to issue under its General Bond Resolution the District's Sewer and Drainage System Revenue Bonds, Series 2020A (the "Series 2020A Bonds") for the purpose of paying at maturity, redeeming, and refunding the District's Program Notes issued and outstanding as Senior Subordinated Debt under the District's General Bond Resolution and under the District's Program Note Resolution (such refunding, the "2020A Project''); and
WHEREAS, the Program Notes were issued by the District to finance on a short-term basis capital additions and improvements to the System pending the permanent refinancing of the Program Notes by the issuance of the District's bonds under its General Bond Resolution;
WHEREAS, on May 26, 2020, the Board of the District adopted its Thirty-First Supplemental Bond Resolution (the "Resolution"), supplementing the District's General B...

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