Title
Resolution of the Lexington-Fayette Urban County Government, requesting that the Ky. Economic Development Finance Authority adopt a resolution providing for the issuance of revenue bonds in an amount not to exceed $50,000,000, the proceeds of which will be loaned to Christian Care Communities, Inc., a Ky. nonprofit organization, and/or one or more affiliates, with facilities located within the boundaries of Fayette County, to finance and refinance the acquisition, construction and equipping of certain facilities consisting of health care and health related facilities and waiving certain requirements of the Urban County Government's Industrial Revenue/Housing Bond Policies and Guidelines. [Mayor's Office, Atkins]
Summary
Authorization to send a resolution to the Kentucky Economic Development Finance Authority requesting they provide for the issuance of revenue bonds for the support of Christian Care Communities, Inc. The LFUCG is required to issue a resolution in support of an industrial revenue bond project in Lexington-Fayette County if the project is being financed by another agency within Kentucky. There is no budgetary impact to the LFUCG. (L1229-15)(Atkins)
Budgetary Implications [select]: NO
Advance Document Review:
Law: { Yes, Completed by Dave Barberie)
Risk Management: {Select Yes/No, Completed by [Official, Date]}
Fully Budgeted [select]: N/A
Account Number:
This Fiscal Year Impact: $
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 Chapter 154 and Sections 103.200 - 103.285 inclusive, of the Kentucky Revised Statutes and to use the proceeds of such bonds to make loans to nonprofit organizations such as Christian Care Communities, Inc. (together with one or more affiliates, the "Borrower") to provide financing for health care and health rel...
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