HomeMy WebLinkAboutWestern Baptist RESOLUTION
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE CITY OF
PADUCAH, KENTUCKY, RELATING TO THE ISSUANCE BY THE KENTUCKY
ECONOMIC DEVELOPMENT FINANCE AUTHORITY OF REVENUE BONDS TO
FINANCE, AMONG OTHER THINGS, COSTS INCURRED BY BAPTIST HEALTHCARE
SYSTEM, INC., IN CONSTRUCTING AND ACQUIRING CERTAIN HOSPITAL
FACILITIES IN THE CITY
WHEREAS, Baptist Healthcare System, Inc. "BHS a Kentucky nonprofit
corporation, desires to finance, in part, the acquisition, installation and construction of new
hospital equipment, fixtures, improvements, facilities and computer hardware and software,
including without limitation expansion and renovation of surgical suites, pre- operative and post-
operative care areas and related spaces, and expanding and improving outpatient facilities
utilized for pre- admission testing and second stage recovery (the "Project up to $6,000,000 of
the costs of which are presently expected to be financed by the Bonds hereinafter defined; and
WHEREAS, it is expected that the acquisition, construction and installation of the
Project by BHS will have a positive impact on the local economy and the delivery of hospital
and health care services to the citizens of the City and the surrounding areas and, in particular,
will result in the provision of more efficient and effective hospital and health care services in the
area; and
WHEREAS, the Kentucky Economic Development Finance Authority
"KEDFA a body politic and corporate within the Economic Development Cabinet of the
Commonwealth of Kentucky, created and existing pursuant to the provisions of KRS Chapter
154, possesses the legal authority to authorize and issue revenue bonds to provide for the
financing of the Project upon the request of the City as required by KRS 103.210(1); and
WHEREAS, such financing, when undertaken by KEDFA, will enable BHS to
continue to provide substantial employment for residents of the area; and
WHEREAS, the City, for the reasons above stated, desires to request the issuance
of such revenue bonds by KEDFA (the "Bonds for the purpose of financing, among other
hospital projects located in other cities, the Project, and it is appropriate that this Resolution be
adopted in order to evidence such request;
NOW, THEREFORE, BE IT RESOLVED AND ORDERED BY THE CITY OF
PADUCAH, KENTUCKY, ACTING BY AND THROUGH ITS BOARD OF
COMMISSIONERS, AS FOLLOWS:
Section 1. It is hereby found, determined and declared that the statements of
fact set forth in the preamble to this Resolution are true and accurate in all respects, and the
preamble and all of the recitals therein are incorporated in this Resolution by reference, as if set
forth verbatim herein.
Section 2. The City hereby requests the issuance of the Bonds by KEDFA in
order to finance costs of the Project for BHS. Such request is made solely for the purpose of
satisfying the statutory requirement of KEDFA for such local request and shall not be deemed to
constitute an approval of the Project for any other municipal purpose of the City.
Section 3. The adoption of this Resolution shall not be deemed to and shall
not constitute an approval of the Bonds or any representation made by KEDFA or BHS in the
issuance thereof and shall not impose any liability or responsibility, financial or otherwise, upon
the City.
Section 4. This Resolution shall be in full force and effect from and after its
adoption.
ADOPTED by the Board of Commissioners of the City of Paducah, Kentucky, on
October 11, 2011, signed by the Mayor, attested by the City Clerk and declared to be in full force
and effect.
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William F. Paxto III, Mayor
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Tammara S. Brock, City Clerk
Certification
I, the undersigned, do hereby certify that I am the duly, qualified and acting City Clerk of
the City of Paducah, Kentucky (the "City and as such Clerk I further certify that the foregoing
is a true, correct and complete copy of a Resolution duly adopted by the Board of
Commissioners of the City at a properly convened meeting held on October 11, 2011, signed by
the Mayor and now in full force and effect, all as appears from the official records of the City in
my possession and under my control.
IN WITNESS WHEREOF, I have hereunto set my hand this October 2011.
433330.137513/758955.1
Tammara S. Brock, City Clerk
resolution \western baptist -2011
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