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File #: 1133-20    Version: 1 Name: Walk on - $10M Easter Seal society
Type: Resolution Status: Approved
File created: 11/11/2020 In control: Urban County Council
On agenda: 12/1/2020 Final action: 12/1/2020
Enactment date: 12/1/2020 Enactment #: R-595-2020
Title: A Resolution of the Lexington-Fayette Urban County Government approving the execution and delivery by Scott County Fiscal Court of its Scott County Fiscal Court Healthcare Revenue Bonds, Series 2020 (Ky. Easter Seal Society, Inc. Project) in an amount not to exceed $10,000,000 (the "Bonds"), and the use of the proceeds thereof to assist Ky. Easter Seal Society, Inc. (the "Corporation") (a) to finance the costs of the purchase of the Corporation's building located at 1900 Richmond Rd. Lexington, Ky. and (b) to pay the costs of issuance. (Public Hearing Dec. 1, 2020 5:00 p.m.). [Council Office, Maynard]
Attachments: 1. 00713304.pdf, 2. R-595-2020
Title
A Resolution of the Lexington-Fayette Urban County Government approving the execution and delivery by Scott County Fiscal Court of its Scott County Fiscal Court Healthcare Revenue Bonds, Series 2020 (Ky. Easter Seal Society, Inc. Project) in an amount not to exceed $10,000,000 (the "Bonds"), and the use of the proceeds thereof to assist Ky. Easter Seal Society, Inc. (the "Corporation") (a) to finance the costs of the purchase of the Corporation's building located at 1900 Richmond Rd. Lexington, Ky. and (b) to pay the costs of issuance. (Public Hearing Dec. 1, 2020 5:00 p.m.). [Council Office, Maynard]

Body
WHEREAS, the County of Scott, Kentucky (the "County of Scott"), pursuant to the provisions of Section 103.200 to 103.285, inclusive, of the Kentucky Revised Statutes, as amended (the "Act"), proposes to execute and deliver, together with Kentucky Easter Seal Society, Inc. (the "Corporation"), a nonprofit corporation organized and existing under the laws of the Commonwealth of Kentucky and exempt from federal income taxes as an organization described and designated by the Internal Revenue Service under Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the "Code"), its County of Scott, Kentucky Healthcare Revenue Bonds (Kentucky Easter Seal Society, Inc. Project), Series 2020 in an amount not to exceed $10,000,000 (the "Bonds"); and
WHEREAS, the County of Scott, pursuant to the Act, proposes to loan the proceeds of the County of Scott Bonds to the Corporation, to be used to finance the costs of purchasing the Corporation's building located at 1900 Richmond Road, Lexington, Kentucky and certain costs of issuance (collectively, the "Project"); and
WHEREAS, Section 147 of the Code requires public approval by the governmental unit having jurisdiction over the area in which the Project is located; and
WHEREAS, due to the COVID-19 pandemic and State of Emergency, the public hearing of the Lexington-Fayette County Urban G...

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