Title
A Resolution of the Lexington-Fayette Urban County Government relating to the issuance by the Ky. Economic Development Finance Authority of revenue bonds to finance and refinance, among other things, costs incurred by Baptist Healthcare System, Inc., in constructing and acquiring certain hospital facilities in the Urban County. [Council Office, Maynard]
Body
WHEREAS, Baptist Healthcare System, Inc. ("Baptist Health"), a Kentucky nonprofit corporation, desires to finance the costs of purchasing, acquiring, constructing, enlarging, remodeling, renovating, improving, furnishing, or equipping certain hospital, health care, and health-related facilities at Baptist Health Lexington in Lexington, Kentucky, including (i) the construction and equipping of a seven-story bed tower, parking facilities, and associated support systems, (ii) the build out and equipping of a cancer center, bed tower, morgue, and pharmacy, (iii) the renovation and equipping of a medical telemetry unit, and (iv) the expansion and renovation of the orthopedic services Dept. (the "New Project"), up to $95,000,000 of the costs of which are presently expected to be financed by the Bonds hereinafter defined; and
WHEREAS, Baptist Health also desires to refinance the costs of previous improvements to certain hospital, health care, and health-related facilities currently constituting Baptist Health Lexington, including without limitation the prior acquisition, construction, or renovation of a two-story tower addition, power plant upgrades, laboratories, operating rooms, HVAC equipment, emergency systems, medical and office equipment and furnishings, and other general facility improvements (collectively, the "Existing Projects"), up to $50,000,000 of the costs of which are presently expected to be refinanced by the Bonds; and
WHEREAS, it is expected that the financing of the New Project and the refinancing of the Existing Projects by Baptist Health will have a positive impact on...
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