ORDINANCE NO. ____, SERIES 2021
TITLE
AN ORDINANCE OF THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT AUTHORIZING AND DIRECTING THE PARKING AUTHORITY OF RIVER CITY, INC. TO ISSUE ITS MORTGAGE REFUNDING REVENUE BONDS, IN ONE OR MORE SERIES, WHETHER TAXABLE OR TAX-EXEMPT, TO FINANCE (I) THE REFUNDING OF ALL OR A PORTION OF THE OUTSTANDING PARKING AUTHORITY OF RIVER CITY, INC. FIRST MORTGAGE REVENUE BONDS, SERIES 2010B, (II) THE REFUNDING OF ALL OR A PORTION OF THE PARKING AUTHORITY OF RIVER CITY, INC. FIRST MORTGAGE REVENUE BONDS, SERIES 2013A, AND (III) THE REFUNDING OF ALL OR A PORTION OF THE PARKING AUTHORITY OF RIVER CITY, INC. FIRST MORTGAGE REVENUE BONDS, SERIES 2013B; AUTHORIZING THE EXECUTION OF A TRUST INDENTURE AND ANY SUPPLEMENTAL THERETO; THE EXECUTION OF A LEASE AGREEMENT AND ANY SUPPLEMENTAL LEASE NECESSARY TO EFFECT THE ISSUANCE OF SUCH BONDS; AND TAKING OTHER RELATED ACTION.
BODY
SPONSORED BY: COUNCIL MEMBERS HOLLANDER AND KRAMER
WHEREAS, the Parking Authority of River City, Inc., a Kentucky nonstock, nonprofit corporation ("PARC"), is organized and existing under Section 58.180 and Sections 273.161 to 273.390, inclusive, of the Kentucky Revised Statutes, as amended ("KRS"), to act as the agency and instrumentality and the constituted authority of the Louisville/Jefferson County Metro Government ("Louisville Metro"), a consolidated local government and political subdivision of the Commonwealth of Kentucky (the "Commonwealth"), in the acquisition and financing of public projects, including public parking and garage facilities located in Jefferson County, Kentucky and intended for governmental and public purposes, including specifically the purposes of creating or increasing the public recreational, cultural and related business facilities of Louisville Metro and the creation, improvement, revitalization, renewal or modernization of Louisville Metro's central business or shopping community, all as contemplated by KRS 58.010(1)(b);
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