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 refinance, among other things, costs incurred by Baptist Healthcare System, Inc. In constructing and acquiring certain hospital facilities in the Urban County. [Mayor's Office, Atkins]
Summary
Approval of a Resolution requesting the Kentucky Economic Development Finance Authority (KEDFA) to issue Bonds in order to allow Baptist Healthcare System, Inc. to refinance existing projects. No Budgetary impact. (L0131-22) (Atkins)
Budgetary Implications: No
Advance Document Review:
Law: { Yes, Completed by David Barberie, 1/27/2022}
Risk Management: {Select Yes/No, Completed by [Official, Date]}
Fully Budgeted: N/A
Account Number:
This Fiscal Year Impact: $
Annual Impact: $
Project:
Activity:
Budget Reference:
Current Balance:
Body
WHEREAS, Baptist Healthcare System, Inc. ("Baptist Health"), a Kentucky nonprofit corporation, desires to refinance the Kentucky Economic Development Finance Authority Hospital Revenue Bonds, Series 2009B-1 through Series 2009B-4 (Baptist Healthcare System Obligated Group) (collectively, the "2009B Bonds"), currently outstanding in an aggregate principal amount equal to $284,435,000, the proceeds of which were used (i) to finance a portion of the costs of improvements to certain hospital, health care, and health-related facilities, and (II) to refund and retire debt previously issued by Baptist Health to finance a portion of the costs of improvements to certain hospital, health care, and health-related facilities (collectively, the "Existing Projects"), all located at Baptist Health Lexington in Lexington, Kentucky; and
WHEREAS, it is expected that the refinancing of the Existing Projects by Baptist Health will have a positive impact on the local economy and the delivery of hospital, health care, and health-related services to the citizens of Lexington and the...
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