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RESOLUTION/MUNICIPAL ORDER NO. %�_
A RESOLUTION/MUNICIPAL ORDER OF THE BOARD OF
COMMISSIONERS OF THE CITY OF PADUCAH, KENTUCKY, CONSENTING TO
THE ISSUANCE BY THE KENTUCKY ECONOMIC DEVELOPMENT FINANCE
AUTHORITY OF REVENUE BONDS TO FINANCE, AMONG OTHER THINGS, THE
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 the costs of
constructing and acquiring certain hospital and related health
care properties at Western Baptist Hospital in the City of
Paducah, Kentucky (the "City"), costing in aggregate up to $46
million (the "BHS Project"); and
WHEREAS, it is expected that the operation of the BHS
Project by BHS will have a positive impact on the delivery of
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 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
I
W revenue bonds to provide financing for the BHS Project; and
WHEREAS, the aforesaid 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 express its consent to the issuance of such revenue
bonds by KEDFA (the "Bonds") for the purpose of financing,
among other things, the construction and acquisition of the BHS
Project, and it is appropriate that this Resolution/Municipal
Order be adopted in order to evidence the consent of the City
in this connection.
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/Municipal Order are true and accurate in all
respects, and the preamble and all of the recitals therein are
incorporated in this Resolution/Municipal Order by reference,
as if set forth verbatim herein.
SECTION 2. The City hereby consents to the issuance
of the Bonds by KEDFA in order to finance the costs of con-
struction and acquisition of the BHS Project for BHS. Such
consent is given solely for the purpose of satisfying the
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request of the KEDFA for such local consent and shall not be
deemed to constitute an approval of the BHS Project for any
other municipal purpose of the City.
SECTION 3. The adoption of this Resolution/Municipal
Order 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/Municipal Order shall be
in full force and effect from and after its adoption as pro-
vided by law.
Mayo
ATTEST:
r
Aena Smit City Clerk
Adopted by the Board of Commissioners December 10, 1996
Recorded by Lenita Smith, City Clerk, December 10, 1996
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/Municipal Order duly adopted by the Board of
Commissioners of the City at a properly convened meeting held
on December 10, 1996, 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,
December 10, 1996.
mo /wbYi
I have hereunto set my hand this
City Clerk