Lexington-Fayette Urban County Government - File #: 0842-13

• File #: 0842-13
• Version: 1
• Name: Catholic Health Initiatives - IRB
• Type: Resolution
• Status: Approved
• File created: 8/5/2013
• In control: Urban County Council
• On agenda: 8/15/2013
• Final action: 8/15/2013
• Enactment date: 8/15/2013
• Enactment #: R-423-2013
• 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 $158,195,000, the proceeds of which will be loaned to Catholic Health Initiatives, Inc., to provide financing for all or a part of the costs of the acquisition, construction, installation and equipping of capital projects for health care facilities and related improvements and expenditures. [Mayor's Office, Atkins]

Date	Ver.	Action By	Action	Result
8/15/2013	1	Urban County Council	Received First Reading
8/15/2013	1	Urban County Council	Suspended Rules for Second Reading	Pass
8/15/2013	1	Urban County Council	Approved	Pass
8/13/2013	1	Urban County Council Work Session

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 $158,195,000, the proceeds of which will be loaned to Catholic Health Initiatives, Inc., to provide financing for all or a part of the costs of the acquisition, construction, installation and equipping of capital projects for health care facilities and related improvements and expenditures. [Mayor's Office, Atkins]
Summary
Authorization to support Catholic Health Initiatives (CHI) request to the Kentucky Economic Development Finance Authority (KEDFA) Industrial Building Revenue Bond application. (L0842-13) (Atkins)
This is a request to support Catholic Health Initiatives (CHI) request to the Kentucky Economic Development Finance Authority (KEDFA) Industrial Building Revenue Bond application for an amount not to exceed $158,195,000. There is no budgetary impact.
Budgetary Implications: NO
Advance Document Review: Law/Risk Management
Fully Budgeted: Yes/No/Partial
Account Number:
This Fiscal Year Impact: NA
Annual Impact:
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), 154.035(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 the costs of acquiring, constructing and installing a "health care facility" within the meaning of the Act;
WHEREAS, Catholic Health Initiatives (the "Corporation"), a Colorado nonprofit corporation, is a corporate member of KentuckyOne Health, Inc., a Kentucky nonprofit corporation, which is the sole corporate member of Saint Joseph Health System, Inc., a Kentucky nonprofit corporation that (i) owns and operates Saint Joseph Hospital, St. Jo...