Title
A Resolution of the Lexington-Fayette Urban County Council requesting that the Ky. Economic Development Finance Authority issue Revenue Bonds in an amount of up to $72,500,000, the proceeds of which will provide for the financing and refinancing of certain St. Joseph Health System Projects in the geographic territory of Lexington-Fayette Urban County Government. [Mayor's Office, Bencz]
Summary
Authorization to forward a Resolution to the Kentucky Economic Development Finance Authority (KEDFA) for Saint Joseph Health System, Inc., subsidiary of CommonSpirit Health, requesting and supporting KEDFA's issuance of Industrial Building Revenue Bonds to refinance the Authority's Revenue Bonds (Catholic Health Initiatives) Series 2011B-3. No Budgetary impact. (L0813-25)(Bencz/Atkins)
Budgetary Implications [select]: NO
Advance Document Review:
Law: { Yes, Completed by [Evan Thompson, 8/22/2025]}
Risk Management: {Select Yes/No, Completed by [Official, Date]}
Fully Budgeted [select]: NA
Account Number: NA
This Fiscal Year Impact: NA
Annual Impact: NA
Project:
Activity:
Budget Reference:
Current Balance:
Body
WHEREAS, the Kentucky Economic Development Finance Authority (the "Authority") is authorized to issue bonds from time to time under the provisions of Sections 154.10-035(2), 154.20-035(1) and 103.200 through 103.285 of the Kentucky Revised Statutes (the "Act") and to use the proceeds of such bonds to make loans to provide financing or refinancing for the costs of acquiring, constructing and installing a "health care facility" within the meaning of the Act;
WHEREAS, the Authority has previously issued bonds for the benefit of CommonSpirit Health, a Colorado nonprofit corporation ("CommonSpirit") determined by the Internal Revenue Service to be a charitable organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended;
WHEREAS, Saint Joseph Health System, Inc., a Kentucky nonprofit corporation ("St. Joseph"), is a wholly-ow...
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