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File #: O-250-20    Version: 1 Name:
Type: Ordinance Status: Passed
File created: 6/1/2020 In control: Budget Committee
On agenda: 6/25/2020 Final action: 6/25/2020
Title: AN ORDINANCE OF THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT, KENTUCKY, AUTHORIZING THE ISSUANCE OF ITS TAXABLE REVENUE BONDS, SERIES 2020 (LOUISVILLE MEDICAL CENTER STEAM AND CHILLED WATER PLANT PROJECT) IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $21,000,000 FOR THE PURPOSES OF (A) PAYING ALL OR A PORTION OF THE COSTS OF CONVERTING THE STEAM AND CHILLER WATER PLANT OF THE CORPORATION TO A WHOLLY-NATURAL GAS POWERED STEAM GENERATING FACILITY, INCLUDING WITHOUT LIMITATION THE ACQUISITION, CONSTRUCTION, INSTALLATION, AND EQUIPPING OF (I) THREE NEW, HIGHER CAPACITY BOILERS DESIGNED TO COMBUST NATURAL GAS AND FUEL OIL IN REPLACEMENT OF THE EXISTING BOILERS IDENTIFIED AS BOILERS B-1, B-2, AND B-3, (II) NEW BOILER CONTROL SYSTEMS, (III) A NEW FUEL OIL STORAGE AND SUPPLY SYSTEM FOR THE STEAM GENERATING FACILITIES OF THE PLANT, AND (IV) OTHER REAL PROPERTY IMPROVEMENTS, MACHINERY, AND EQUIPMENT NECESSARY AND RELATED TO ANY OF THE FOREGOING, AND (B) PAYING COSTS OF ISSUANCE OF THE SERIE...
Sponsors: Barbara Sexton Smith (D-4)
Attachments: 1. O-250-20 V.1 061120 Bond for Louisville Medical Center Steam & Chilled Water Plant Project.pdf, 2. O-250-20 V.1 061120 ATTACH EXHIBIT A - Bond Purchase Agreement.pdf, 3. O-250-20 V.1 061120 ATTACH EXHIBIT B - Bond Trust Indenture.pdf, 4. O-250-20 V.1 061120 ATTACH EXHIBIT C - Loan Agreement.pdf, 5. O-250-20 V.1 061120 ATTACH EXHIBIT D - Amended and Restated Steam and Chilled Water Plant User Agreement.pdf, 6. LMC - Baird 2020 - Preliminary Official Statement - 4830-4343-2124.2.pdf, 7. ORD 071 2020.pdf
ORDINANCE NO. _________, SERIES 2020
title
AN ORDINANCE OF THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT, KENTUCKY, AUTHORIZING THE ISSUANCE OF ITS TAXABLE REVENUE BONDS, SERIES 2020 (LOUISVILLE MEDICAL CENTER STEAM AND CHILLED WATER PLANT PROJECT) IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $21,000,000 FOR THE PURPOSES OF (A) PAYING ALL OR A PORTION OF THE COSTS OF CONVERTING THE STEAM AND CHILLER WATER PLANT OF THE CORPORATION TO A WHOLLY-NATURAL GAS POWERED STEAM GENERATING FACILITY, INCLUDING WITHOUT LIMITATION THE ACQUISITION, CONSTRUCTION, INSTALLATION, AND EQUIPPING OF (I) THREE NEW, HIGHER CAPACITY BOILERS DESIGNED TO COMBUST NATURAL GAS AND FUEL OIL IN REPLACEMENT OF THE EXISTING BOILERS IDENTIFIED AS BOILERS B-1, B-2, AND B-3, (II) NEW BOILER CONTROL SYSTEMS, (III) A NEW FUEL OIL STORAGE AND SUPPLY SYSTEM FOR THE STEAM GENERATING FACILITIES OF THE PLANT, AND (IV) OTHER REAL PROPERTY IMPROVEMENTS, MACHINERY, AND EQUIPMENT NECESSARY AND RELATED TO ANY OF THE FOREGOING, AND (B) PAYING COSTS OF ISSUANCE OF THE SERIES 2020 BONDS; AUTHORIZING THE EXECUTION AND DELIVERY OF A BOND TRUST INDENTURE, LOAN AGREEMENT, AND BOND PURCHASE AGREEMENT; AUTHORIZING THE EXECUTION AND DELIVERY OF AN AMENDED AND RESTATED STEAM AND CHILLED WATER PLANT USER AGREEMENT; AUTHORIZING AND APPROVING CERTAIN OTHER MATTERS, INCLUDING THE EXECUTION OF RELATED DOCUMENTS, IN CONNECTION WITH THE SALE AND ISSUANCE OF THE SERIES 2020 BONDS.
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SPONSORED BY: COUNCILMEMBER SEXTON SMITH

WHEREAS, the Louisville/Jefferson County Metro Government ("Metro Government") is a political subdivision of the Commonwealth of Kentucky (the "Commonwealth") and is authorized by Sections 103.200 through 103.285 of the Kentucky Revised Statutes, as amended (the "Act"), to issue revenue bonds and to loan the proceeds thereof to third parties in order to finance costs of an "industrial building," as defined in the Act, utilized in the provision of healthcare and nonprofit educational services; and...

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