HomeMy Public PortalAboutOrdinance 25-2021ORDINANCE 25-2021
AN ORDINANCE OF THE CITY OF HOPKINSVILLE, KENTUCKY
AUTHORIZING THE ISSUANCE OF ITS CITY OF HOPKINSVILLE,
KENTUCKY (I) GENERAL OBLIGATION REFUNDING BONDS,
SERIES 2021A IN THE APPROXIMATE AGGREGATE PRINCIPAL
AMOUNT OF $1,830,000 (SUBJECT TO A PERMITTED ADJUSTMENT
INCREASING THE PRINCIPAL AMOUNT OF THE SERIES 2021A
BONDS BY UP TO $180,000 OR DECREASING THE PRINCIPAL
AMOUNT OF THE SERIES 2021A BONDS BY ANY AMOUNT) FOR THE
PURPOSE OF REFUNDING IN ADVANCE OF MATURITY THE CITY'S
OUTSTANDING GENERAL OBLIGATION BONDS, SERIES 2011A AND
(II) GENERAL OBLIGATION REFUNDING BONDS, SERIES 2021B IN
THE APPROXIMATE AGGREGATE PRINCIPAL AMOUNT OF
$6,575,000 (SUBJECT TO A PERMITTED ADJUSTMENT INCREASING
THE PRINCIPAL AMOUNT OF THE SERIES 2021B BONDS BY UP TO
$655,000 OR DECREASING THE PRINCIPAL AMOUNT OF THE SERIES
2021B BONDS BY AN ANY AMOUNT) FOR THE PURPOSE OF
REFUNDING IN ADVANCE OF MATURITY THE CITY'S
OUTSTANDING GENERAL OBLIGATION BONDS, SERIES 201111;
APPROVING THE FORMS OF THE BONDS; AUTHORIZING
DESIGNATED OFFICERS TO EXECUTE AND DELIVER THE BONDS;
AUTHORIZING AND DIRECTING THE FILING OF A NOTICE OR
NOTICES WITH THE STATE LOCAL DEBT OFFICER; PROVIDING
FOR THE PAYMENT AND SECURITY OF THE BONDS;
ESTABLISHING A BOND PAYMENT FUND FOR THE BONDS;
AFFIRMING THE EXISTING SINKING FUND; AUTHORIZING
ACCEPTANCE OF THE BIDS OF THE PURCHASERS FOR THE
BONDS; AND REPEALING INCONSISTENT ORDINANCES.
SUMMARY
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF HOPKINSVILLE, KENTUCKY, AS FOLLOWS:
This Ordinance authorizes the issuance of two series of general obligation bonds
designated as "General Obligation Refunding Bonds, Series 2021A" (the "Series 2021A Bonds")
and "General Obligation Refunding Bonds, Series 2021 B" (the "Series 2021B Bonds," and
together with the Series 2021A Bonds, the "Bonds") by the City of Hopkinsville, Kentucky (the
"City") for the purpose of, in the case of the Series 2021A Bonds: (1) refunding in advance of
maturity the City's outstanding General Obligation Bonds, Series 2011A, the proceeds of which
were used to refinance a Lease Agreement with the Kentucky League of Cities funding Trust,
dated April 11, 2006, the proceeds of which financed: (a) the acquisition, construction, equipping,
and installation of an Aquatic Park; (b) the acquisition, construction, and renovation of a Public
Works department building; and (c) the construction and landscaping of a memorial park
,1
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fui tuft Campbell soldicrs; and (2) to pay costs of issuance of the Series 2011A Bonds, and in the
case of the Series 2021B Bonds: (1) refunding in advance of maturity the City's outstanding Series
2011B Bonds, the proceeds of which were used to finance the acquisition, construction,
installation, and equipping of a new city hall and (2) pay the costs of issuance of the Series 2011B
Bonds
Provisions are made in the Ordinance for the payment of the Bonds and the security
therefor; for the application of the proceeds of the Bonds; for the establishment of a bond payment
fund for the continuation of the City's previously established sinking fund; and for certain
covenants of the City with respect to the Bonds. The Series 2021A Bonds are to be sold at public,
competitive sale, and shall mature, or be subject to mandatory sinking fund redemption, in varying
amounts on February 1, 2022 and each February 1 thereafter through February 1, 2035. The Series
2021B Bonds are to be sold at public, competitive sale, and shall mature, or be subject to
mandatory sinking fund redemption, in various amounts on February 1, 2022 and each February 1
thereafter through February 1, 2037. The Bonds pledge the full faith, credit, and taxing power of
the City and provision is made for the collection of a tax to pay the principal of, and interest on
the Bonds, subject to certain credits, as provided in Section 7 of the Ordinance. As required by
KRS 83A.060, the following Section 7 of the Ordinance is set forth in its entirety:
"Section 7. General Obligation. The Bonds shall be full general obligations of
the City and, for the payment of the Bonds, and the interest thereon, the full faith,
credit, and taxing power of the City are hereby pledged for the prompt payment
thereof. During the period the Bonds are outstanding, there shall be and there
hereby is levied on all the taxable property in the City, in addition to all other taxes,
without limitation as to rate, a direct tax annually in an amount sufficient to pay the
principal of and interest on the Bonds when and as due, it being hereby found and
determined that current tax rates are within all applicable limitations. The tax shall
be and is hereby ordered computed, certified, levied, and extended upon the tax
duplicate and collected by the same officers in the same manner and at the same
time that taxes for general purposes for each of the years are certified, extended,
and collected. The tax shall be placed before and in preference to all other items
and for the full amount thereof provided, however, that in each year to the extent
that the other lawfully available funds of the City are available for the payment of
the Bonds, and are appropriated for such purpose, the amount of such direct tax
upon all of the taxable property in the City shall be reduced by the amount of such
other funds so available and appropriated."
The undersigned Attorney at Law, licensed to practice in Kentucky, hereby certifies that
the foregoing title summary of the ordinance of the City of Hopkinsville, Kentucky, was prepared
by the undersigned and constitutes a general summary of essential provisions of the ordinance,
reference to the full text of which ordinance is hereby made for a complete statement of its
provisions and terms.
By: /s/ Mark S. Franklin
Dinsmore & Shohl LLP
101 South Fifth Street, Suite 2500
Louisville, Kentucky 40202
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ORDINANCE 25-2021 SUMMARY
SERIES 2011A AND 2011B BOND REFINANCING
PUBLICLY READ AND PASSED FIRST TIME: NOVEMBER 2 2021
PUBLICLY READ AND PASSED SECOND TIME: NOVEMBER 16, 2021
J
APPROVED: L�
Wendell A. Lynch
Mayor
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ATTEST: M
Christine M. Fletcher, MMC
City Clerk
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Ordinance C
was published in the Kentucky New Era
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As Certified By
ORDINANCE 25-2021
AN ORDINANCE OF THE CITY OF HOPKINSVILLE, KENTUCKY
AUTHORIZING THE ISSUANCE OF ITS CITY OF HOPKINSVILLE,
KENTUCKY (I) GENERAL OBLIGATION REFUNDING BONDS, SERIES
2021A IN THE APPROXIMATE AGGREGATE PRINCIPAL AMOUNT OF
$1,830,000 (SUBJECT TO A PERMITTED ADJUSTMENT INCREASING
THE PRINCIPAL AMOUNT OF THE SERIES 2021A BONDS BY UP TO
$180,000 OR DECREASING THE PRINCIPAL AMOUNT OF THE SERIES
2021A BONDS BY ANY AMOUNT) FOR THE PURPOSE OF REFUNDING
IN ADVANCE OF MATURITY THE CITY'S OUTSTANDING GENERAL
OBLIGATION BONDS, SERIES 2011A AND (II) GENERAL OBLIGATION
REFUNDING BONDS, SERIES 2021B IN THE APPROXIMATE
AGGREGATE PRINCIPAL AMOUNT OF $6,575,000 (SUBJECT TO A
PERMITTED ADJUSTMENT INCREASING THE PRINCIPAL AMOUNT
OF THE SERIES 2021B BONDS BY UP TO $655,000 OR DECREASING
THE PRINCIPAL AMOUNT OF THE SERIES 2021B BONDS BY AN ANY
AMOUNT) FOR THE PURPOSE OF REFUNDING IN ADVANCE OF
MATURITY THE CITY'S OUTSTANDING GENERAL OBLIGATION
BONDS, SERIES 201111; APPROVING THE FORMS OF THE BONDS;
AUTHORIZING DESIGNATED OFFICERS TO EXECUTE AND
DELIVER THE BONDS; AUTHORIZING AND DIRECTING THE FILING
OF A NOTICE OR NOTICES WITH THE STATE LOCAL DEBT
OFFICER; PROVIDING FOR THE PAYMENT AND SECURITY OF THE
BONDS; ESTABLISHING A BOND PAYMENT FUND FOR THE BONDS;
AFFIRMING THE EXISTING SINKING FUND; AUTHORIZING
ACCEPTANCE OF THE BIDS OF THE PURCHASERS FOR THE BONDS;
AND REPEALING INCONSISTENT ORDINANCES.
WHEREAS, the City of Hopkinsville, Kentucky (the "City") has heretofore issued its
(i) City of Hopkinsville, Kentucky General Obligation Refunding Bonds, Series 2011A dated
November 30, 2011, in the original aggregate principal amount of $4,965,000 (the "Series 2011A
Bonds"), the proceeds of which were used to (1) refund in advance of maturity a Lease Agreement
with the Kentucky League of Cities funding Trust, dated April 11, 2006, the proceeds of which
financed: (a) the acquisition, construction, equipping, and installation of an Aquatic Park; (b) the
acquisition, construction, and renovation of a Public Works department building; and (c) the
construction and landscaping of a memorial park for Fort Campbell soldiers (the "Series 2011A
Project"); and (2) to pay costs of issuance of the Series 2011A Bonds, and (ii) City of Hopkinsville,
Kentucky General Obligation Refunding Bonds, Series 2011B dated December 29, 2011, in the
original aggregate principal amount of $7,220,000 (the "Series 2011B Bonds," and together with
the Series 2011A Bonds the "Prior Bonds"), the proceeds of which were used to (1) finance the
acquisition, construction, installation, and equipping of a new city hall (the "Series 2011B Project,"
and together with the Series 2011A Project, the "Project"); and (2) to pay costs of issuance of the
Series 2011B Bonds; and
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WHEREAS, the City has determined that the present conditions of the municipal waikel
are favorable and that it is therefore advantageous and in the best interests of the City for the City
to proceed with the refunding of all or a portion of the Prior Bonds; and
WHEREAS, in order to achieve the foregoing objectives of the City, the City has
determined and does hereby confirm that it is necessary and desirable at this time for the City to
proceed with the issuance of its: (1) General Obligation Refunding Bonds, Series 2021A in the
approximate principal amount of $1,830,000 (which amount may be increased by $180,000 or
decreased by any amount) (the "Series 2021A Bonds") (a) to refund in advance of maturity all or
a portion of the Series 2011A Bonds and (b) pay all or a portion of the costs of issuance of the
Series 2021A Bonds and (2) General Obligation Refunding Bonds, Series 2021B, in the
approximate principal amount of $6,575,000 (which amount may be increased by $655,000 or
decreased by any amount) (the "Series 2021B Bonds," and together with the Series 2021A Bonds,
the "Bonds") (a) to refund on a current basis all or a portion of the Series 2011 B Bonds and (b) pay
all or a portion of the costs of issuance of the Series 2021 B Bonds; and
WHEREAS, pursuant to the Constitution and Laws of the Commonwealth of Kentucky,
and particularly Sections 66.011 et. seq. of the Kentucky Revised Statutes, as amended (the
"General Obligation Act") and Sections 58.010 et. seq. of the Kentucky Revised Statutes, as
amended (the "Public Project Act"), a city may issue bonds, subject to the requirements of the
General Obligation Act or the Public Project Act, to pay all or any portion of the costs of financing
or refinancing any public project to the extent that the city is authorized to cause the acquisition,
construction, installation, and equipping thereof, and
WHEREAS, the City desires to cause all or a portion of (i) Prior Bonds now outstanding
to be refunded in advance of maturity on a date or dates to be established by the City, and (ii) the
costs of issuance of the Bonds to be financed, all through the issuance of the Bonds to be sold and
awarded to the successful bidder for the Bonds (the "Purchaser") at public, competitive sale in
accordance with the provisions of Chapter 424 of the Kentucky Revised Statutes, as amended.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF HOPKINSVILLE, KENTUCKY, AS FOLLOWS:
Section 1. Necessity, Authorization, and Purpose. The City hereby declares that it is
desirable and necessary to issue, and hereby authorizes the issuance of, its (1) General Obligation
Refunding Bonds, Series 2021A (the "Series 2021A Bonds") in the approximate principal amount
of $1,830,000 (which amount may be increased by $180,000 or decreased by any amount) (the
"Series 2021A Permitted Adjustment") (a) to refund on a current basis the City's outstanding
General Obligation Refunding Bonds, Series 2011A (the "Series 2011A Bonds"), and (b) to pay
all or a portion of the costs of issuance of the Series 2021A Bonds and (2) General Obligation
Refunding Bonds, Series 2021B Bonds (the "Series 2021B Bonds," and together with the Series
2021A Bonds, the "Bonds") in the approximate principal amount of $6,575,000 (which amount
may be increased by $655,000 or decreased by any amount) (the "Series 2021B Permitted
Adjustment," and together with the Series 2021A Permitted Adjustment, the "Permitted
Adjustment") (a) to refund on a current basis the City's outstanding General Obligation Bonds,
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Series 2011B (the "Series 201113 Bonds," and together with the Series 2011A Bonds, the "Prior
Bonds") and (b) to pay all or a portion of the costs of issuance of the Series 2021 B Bonds.
The exact principal amount of the Bonds of each series to be issued shall be established in
the Award Certificate (as defined herein) for such series.
Section 2. Form of Bonds. The Bonds shall be issued as fully registered bonds and shall
bear the respective designation set forth in Section 1 hereof. All Bonds issued pursuant to this
Ordinance shall each express upon their face the purpose for which they are issued, that they are
issued under the Act, and shall be substantially in the form set forth in Exhibit A attached hereto.
If the Bonds are issued in a calendar year after calendar year 2021, their designation may be
adjusted to reflect the calendar year and their order of issuance.
Each series of the Bonds shall be in denominations as requested by their respective
Purchasers, which shall be in integral multiples of five thousand dollars ($5,000). Each series of
the Bonds shall be dated their date of initial issuance and delivery, or such other date as is
determined in an award certificate accepting the bid by the Purchaser for each respective series of
the Bonds (the "Award Certificates") to be executed by the Mayor, the City Manager, or the Chief
Financial Officer of the City on the date of the sale of the Bonds.
Interest on Series 2021A Bonds shall be payable each February 1 and August 1 (a "Series
2021A Interest Payment Date"), commencing February 1, 2022, at the stated interest rate or rates
on the principal amounts thereof, calculated on the basis of a three hundred sixty day year with
thirty day months.
The Series 2021A Bonds shall be serial or term bonds maturing or subject to mandatory
sinking fund redemption on February 1, 2022 and each February 1 thereafter in the years and in
the amounts to be established in the Award Certificate for such series after advertised competitive
sale of the Series 2021A Bonds based on the interest rates set forth in the successful bid for the
Series 2021A Bonds and the provisions of this Section 2, provided that the final maturity date of
the Series 2021A Bonds shall be as set forth in the Award Certificate for such series.
The interest rate or rates on the Series 2021A Bonds shall be determined in its respective
Award Certificate; provided that the aggregate net interest cost of the Series 2021A Bonds
determined separately shall not exceed six percent per annum.
The Series 2021A Bonds issued as term bonds shall be subject to mandatory sinking fund
redemption on the dates, in the years, and in the amounts as set forth in the Award Certificate for
such series.
The Series 2021A Bonds maturing on or after February 1, 2030 shall be subject to optional
redemption prior to their maturity on any date on or after February 1, 2029, in whole or in part, in
such order of maturity as shall be designated in writing by the City, and by lot within a maturity,
at the election of the City upon thirty-five days' written notice to the Paying Agent and Registrar
at a redemption price equal to the par amount thereof, plus accrued interest to the date of
1 redemption.
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Interest on Series 2021B Bonds shall be payable each February 1 and August 1 (a "Series
2021B Interest Payment Date," and together with the Series 2021A Interest Payment Date, an
"Interest Payment Date"), commencing February 1, 2022, at the stated interest rate or rates on the
principal amounts thereof, calculated on the basis of a three hundred sixty day year with thirty day
months.
The Series 2021B Bonds shall be serial or term bonds maturing or subject to mandatory
sinking fund redemption on February 1, 2022 and each February 1 thereafter in the years and in
the amounts to be established in the Award Certificate for such series after advertised competitive
sale of the Series 2021B Bonds based on the interest rates set forth in the successful bid for the
Series 2021B Bonds and the provisions of this Section 2, provided that the final maturity date of
the Series 2021B Bonds shall be as set forth in the Award Certificate for such series.
The interest rate or rates on the Series 2021B Bonds shall be determined in its respective
Award Certificate; provided that the aggregate net interest cost of the Series 2021B Bonds
determined separately shall not exceed six percent per annum.
The Series 2021B Bonds issued as term bonds shall be subject to mandatory sinking fund
redemption on the dates, in the years, and in the amounts as set forth in the Award Certificate for
such series.
The Series 2021B Bonds maturing on or after February 1, 2030 shall be subject to optional
redemption prior to their maturity on any date on or after February 1, 2029, in whole or in part, in
such order of maturity as shall be designated in writing by the City, and by lot within a maturity,
at the election of the City upon thirty-five days' written notice to the Paying Agent and Registrar
at a redemption price equal to the par amount thereof, plus accrued interest to the date of
redemption.
At least thirty days before the optional or mandatory sinking fund redemption date of any
Bond, the Paying Agent and Registrar shall cause a notice of such redemption either in whole or
in part, signed by the Paying Agent and Registrar, to be mailed, first class, postage prepaid, to all
registered owners of the Bonds to be redeemed at their addresses as they appear on the registration
books kept by the Paying Agent and Registrar, but failure to mail any such notice shall not affect
the validity of the proceedings for such redemption of Bonds for which such notice has been sent.
Each such notice shall set forth the date fixed for redemption, the redemption price to be paid and,
if less than all of the Bonds being payable by their terms on a single date then outstanding shall be
called for redemption, the distinctive series, number or letters, if any, of such Bonds to be
redeemed.
On the date so designated for redemption, notice having been mailed in the manner under
the conditions hereinabove provided and moneys for payment of the redemption price being held
in the Bond Payment Fund by the Paying Agent and Registrar for the registered owners of the
Bonds to be redeemed, the Bonds so called for redemption shall become and be due and payable
at the redemption price provided for redemption of such Bonds on such date, interest on the Bonds
so called for redemption shall cease to accrue, and the registered owners of such Bonds shall have
no right in respect thereof except to receive payment of the redemption price thereof.
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Notwithstanding the foregoing, any such redemption may be conditioned upon funds being
deposited with the Paying Agent and Registrar on or before the applicable redemption date in an
amount sufficient to carry out such redemption. A failure to make such deposit shall not constitute
an event of default under this Ordinance and the redemption in such event shall be cancelled. If
the City knows in advance of an applicable redemption date that the necessary deposit will not
occur, the City shall notify the Paying Agent and Registrar with instructions to give notice to the
registered owner of the cancellation of the redemption and the redemption shall be of no force or
effect.
The Bonds may be issued in book -entry -only form through the services of the Depository
Trust Company ("DTC"). If the City determines to issue the Bonds in book -entry -only form the
Designated Officers (hereinafter defined) are authorized to execute all documents necessary to
accomplish such form of issuance.
Section 3. Execution and Delivery. Each series of the Bonds shall be executed by the
manual or facsimile signature of the Mayor and duly attested by the manual or facsimile signature
of the City Clerk (which, together with any other person as may be authorized by resolution or
municipal order, including the City's Chief Financial Officer, are referred to as "Designated
Officers") and may have the seal of the City or a facsimile thereof affixed thereto. Additionally,
all Bonds shall bear the manual authenticating signature of an authorized representative of the
paying agent and bond registrar designated in the respective Award Certificate (the "Paying Agent
and Registrar"). The Designated Officers are further authorized and directed to deliver the Bonds
to their respective Purchaser upon the terms and conditions provided herein, in the respective
Award Certificates, and in the winning bids, receive the proceeds therefor, execute, and deliver
such certificates and other closing documents, and take such other action as may be necessary or
appropriate in order to effectuate the proper issuance, sale, and delivery of each series of the Bonds.
The City authorizes and directs the Paying Agent and Registrar to authenticate each series
of the Bonds and to deliver each such series to the Purchaser therefor upon payment of the purchase
price thereof.
Section 4. Payment. Payment of or on account of the interest on and principal of the Bonds
shall be made directly to the respective Paying Agent and Registrar for the account of the registered
owner. Interest on the Bonds shall be payable by check, mailed to the person whose name appears
on the fifteenth day preceding an Interest Payment Date on the bond registration records as the
registered owner, on each Interest Payment Date or by other transfer of funds acceptable to such
registered owner and the Paying Agent and Registrar. Principal shall be payable in such coin or
currency of the United States of America as shall be legal tender for the payment of public and
private debts at the time and place of payment upon delivery of the Bonds to the Paying Agent and
Registrar or by other transfer of funds acceptable to the Paying Agent and Registrar and such
registered owner. All such payments shall be valid and effectual to satisfy and discharge the
liability upon such Bonds to the extent of the sum or sums so paid.
Section 5. Filing. The Designated Officers are hereby authorized to undertake and cause
all filings which may be required by law to be filed by the City with respect to the Bonds including
without limitation the filing with the State Local Debt Officer required by law.
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Section 6. Hond Yayment Fund; Paymeni oI Bonds. Thu,r 1J 11G1CIO y GJtQU11Jllcu vviul Lllc
Paying Agent and Registrar a bond payment fund in the name of the City to be known as "City of
Hopkinsville, Kentucky General Obligation Refunding Bonds, Series 2021A - Bond Payment
Fund" (the "Series 2021A Bond Payment Fund"), into which the City covenants to deposit, and
into which the Designated Officers are hereby authorized and directed to deposit from the City's
General Fund, on or before the twenty-fifth day of each month which precedes an Interest Payment
Date, the amount required to pay principal of and interest due on the Bonds on such Interest
Payment Date. The Paying Agent and Registrar shall, without further authorization from the City,
withdraw from the Series 2021A Bond Payment Fund, on such Interest Payment Date, the amounts
necessary to pay principal of, and interest on, the Series 2021A Bonds to the registered owner of
the same.
The Paying Agent and Registrar is hereby appointed depository of the Series 2021A Bond
Payment Fund with respect to the Series 2021A Bonds.
There is further hereby established with the Paying Agent and Registrar (1) a bond payment
fund in the name of the City to be known as "City of Hopkinsville, Kentucky General Obligation
Refunding Bonds, Series 2021B - Bond Payment Fund" (the "Series 2021B Bond Payment Fund,"
and together with the Series 2021A Bond Payment Fund, the "Bond Payment Funds"), into which
the City covenants to deposit, and into which the Designated Officers are hereby authorized and
directed to deposit from the City's General Fund, on or before the twenty-fifth day of each month
which precedes an Interest Payment Date, the amount required to pay principal of and interest due
on the Bonds on such Interest Payment Date. The Paying Agent and Registrar shall, without further
authorization from the City, withdraw from the Series 2021 B Bond Payment Fund, on such Interest
Payment Date, the amounts necessary to pay principal of, and interest on, the Series 2021B Bonds
to the registered owner of the same.
The Paying Agent and Registrar is hereby appointed depository of the Series 2021B Bond
Payment Fund with respect to the Series 2021B Bonds.
If the City shall fail or refuse to make any required deposit in the Bond Payment Funds
from the Sinking Fund, the Paying Agent and Registrar shall (i) notify any agency of the
Commonwealth of Kentucky or any political subdivision thereof which may collect and distribute
taxes or revenues for the City to seek any available necessary or proper remedial action; and (ii)
upon being indemnified against cost and expense, exercise any remedy provided in the Act or at
law or in equity for the benefit of the owner of the Bonds or its assignee, and shall disburse all
funds so collected to the owners of the Bonds as payment of such Bonds.
Section 7. General Obligation. The Bonds shall be full general obligations of the City
and, for the payment of the Bonds, and the interest thereon, the full faith, credit, and taxing power
of the City are hereby pledged for the prompt payment thereof. During the period the Bonds are
outstanding, there shall be and there hereby is levied on all the taxable property in the City, in
addition to all other taxes, without limitation as to rate, a direct tax annually in an amount sufficient
to pay the principal of and interest on the Bonds when and as due, it being hereby found and
determined that current tax rates are within all applicable limitations. The tax shall be and is hereby
ordered computed, certified, levied, and extended upon the tax duplicate and collected by the same
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officers in the same manner and at the same time that taxes for general purposes for each of the
years are certified, extended, and collected. The tax shall be placed before and in preference to all
other items and for the full amount thereof provided, however, that in each year to the extent that
the other lawfully available funds of the City are available for the payment of the Bonds, and are
appropriated for such purpose, the amount of such direct tax upon all of the taxable property in the
City shall be reduced by the amount of such other funds so available and appropriated.
Section 8. Maintenance of Sinking Fund. The Sinking Fund heretofore established by
the City is hereby ordered to be continued and maintained as long as any of the Bonds shall remain
outstanding. The funds derived from the tax levy required by Section 7 hereof or other lawfully
available funds shall be placed in the Sinking Fund and, together with interest collected on the
same, are irrevocably pledged for the payment of the interest on and principal of all bonds issued
under the Act and Tax -Supported Leases, as defined in the Act, when and as the same fall due.
Amounts shall be transferred from the Sinking Fund to the Bond Payment Fund at the times and
in the amounts required by Section 6 hereof.
Section 9. Sale of Bonds; Award Certificate. The Designated Officers are hereby directed
to sell each series of the Bonds to their respective Purchaser at advertised competitive sale, the
final principal amount of, the principal amortization of, the interest rate or rates on the respective
series of the Bonds, and the identity of the Paying Agent and Registrar to be established in
accordance with the requirements of Sections 1 through 3 hereof by adoption of the respective
Award Certificate. The Designated Officers are hereby directed to appoint the same Paying Agent
and Registrar for each series of the Bonds in the Award Certificate for such series. Each of the
Mayor, the City Manager, the Chief Financial Officer, and the City Clerk of the City is hereby
authorized to execute the Award Certificate establishing the terms of each series of the Bonds and
the identity of the Paying Agent and Registrar for such series, without any further action by the
City Council.
The City shall comply with the requirements of KRS Chapters 66 and 424 by advertising
for bids for the purchase of the Bonds. Actions heretofore taken by the City in connection with the
preparation of such instruments and the distribution of such information by the City as shall be
necessary to accomplish the foregoing, including the preparation of a Preliminary Official
Statement and final Official Statement which Preliminary Official Statement and Official
Statement shall be deemed final by the Mayor in accordance with Rule 15c2-12 of the Securities
and Exchange Commission (the "Rule"), are hereby ratified and approved.
Section 10. Bonds Registered Owners; Transfer; Exchange. As long as any of the Bonds
executed and delivered hereunder shall remain outstanding, the Paying Agent and Registrar shall
maintain an office for the registration of the Bonds and shall also keep at such office books for
such registration and transfers. The registered owner of the Bonds, as set forth in the registration
books maintained by the Paying Agent and Registrar on the fifteenth day preceding an Interest
Payment Date, or its assignees, for purposes of this Bond Ordinance, to the extent of its interest,
shall be treated as the owner of the Bonds and shall be entitled to all rights and security of the
owner of the Bonds hereunder.
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Upon surrender for registration of transfer of Bonds at the office of the Paying Agent and
Registrar with a written instrument of transfer satisfactory to the Paying Agent and Registrar, duly
executed by the registered owner or the registered owner's duly authorized attorney, the Paying
Agent and Registrar shall execute and deliver, in the name of the designated transferee or
transferees, one or more Bonds of any authorized denomination and of a like tenor and effect.
All Bonds, upon surrender thereof at the office of the Paying Agent and Registrar, may, at
the option of the registered owner thereof be exchanged for an equal aggregate principal amount
of Bonds of any authorized denomination.
In all cases in which the privilege of exchanging or transferring Bonds is exercised, the
Paying Agent and Registrar shall execute and deliver Bonds in accordance with the provisions of
this Section. Every such exchange or transfer of Bonds, whether temporary or definitive, shall be
without charge; provided that the Paying Agent and Registrar may impose a charge sufficient to
reimburse it for any tax, fee or other governmental charge required to be paid with respect to such
exchange or transfer, which sum or sums shall be paid by the person requesting such exchange or
transfer as a condition precedent to the exercise of the privilege of making such exchange or
transfer.
Section 11. Disposition of Bond Proceeds. The proceeds of the sale of the Series 2021A
Bonds shall be deposited, together with other available funds of the City, as follows: (a) accrued
interest and a rounding amount, if any, shall be deposited to the Series 2021A Bond Payment Fund
created in Section 6 hereof; (b) an amount sufficient to pay the costs of issuing the Series 2021 A
Bonds shall be deposited to a special cost of issuance fund hereby directed to be established and
designated as the "City of Hopkinsville, Kentucky General Obligation Refunding Bonds, Series
2021A - Cost of Issuance Fund" (the "Series 2021A Cost of Issuance Fund"); (c) an amount
sufficient to pay the outstanding principal balance and accrued interest on the refunded Series
2011A Bonds to and including their date of payment shall be deposited to a special fund hereby
directed to be established within the Bond Fund held by the paying agent for the Series 2011A
Bonds and designated as the "City of Hopkinsville, Kentucky General Obligation Refunding
Bonds, Series 2011A Refunding Fund" (the "2011A Refunding Fund") and used to pay and
discharge the Series 2011A Bonds on the earliest possible date or dates upon issuance of the Bonds
and the deposit of the related proceeds thereof in the 2011A Refunding Fund.
The proceeds of the sale of the Series 2021B Bonds shall be deposited, together with other
available funds of the City, as follows: (a) accrued interest and a rounding amount, if any, shall be
deposited to the Series 2021B Bond Payment Fund created in Section 6 hereof, (b) an amount
sufficient to pay the costs of issuing the Bonds shall be deposited to a special cost of issuance fund
hereby directed to be established and designated as the "City of Hopkinsville, Kentucky General
Obligation Refunding Bonds, Series 2021B - Cost of Issuance Fund" (the "Series 2021B Cost of
Issuance Fund"); (c) an amount sufficient to pay the outstanding principal balance and accrued
interest on the refunded Series 2011B Bonds to and including their date of payment shall be
deposited to a special fund hereby directed to be established within the Bond Fund held by the
paying agent for the Series 2011B Bonds and designated as the "City of Hopkinsville, Kentucky
General Obligation Refunding Bonds, Series 2011 B Refunding Fund" (the "2011 B Refunding
Fund") and used to pay and discharge the Series 2011 B Bonds on the earliest possible date or dates
Ordinance 25-2021
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upon issuance of the Series 201113 Bonds and the deposit of the related proceeds thereof in the
2011 B Refunding Fund.
Section 12. Further Actions. In connection with the undertaking and implementation by
the City of the plan of financing herein described, which is hereby expressly directed, the
Designated Officers are hereby authorized and directed to take and carry out such further
necessary, desirable, or appropriate actions to effect such plan of financing, including executing
and delivering a financial advisory services agreement with the City's financial advisor, Robert
W. Baird & Company, Incorporated. Louisville, Kentucky.
Section 13. Discharge of Bond Ordinance. If the City shall pay or cause to be paid, or
there shall otherwise be paid, to the owners of the Bonds the total principal and interest due or to
become due thereon through maturity, in the manner stipulated therein and in this Bond Ordinance,
then the pledges made under this Bond Ordinance, and all covenants, agreements, and other
obligations of the City hereunder, shall thereupon cease, terminate, and become void and be
discharged and satisfied.
Section 14. Severability. If any one or more of the provisions of this Bond Ordinance
should be determined by a court of competent jurisdiction to be contrary to law, then such
provisions shall be deemed to be severable from all remaining provisions and shall not affect the
validity of such other provisions.
Section 15. Inconsistent Actions. All prior ordinances, resolutions, orders, or parts thereof
inconsistent herewith are hereby repealed.
Section 16. Open Meetings Compliance. All meetings of the City Council and of its
committees and any other public bodies, at which the formal actions in connection with the
issuance of the Bonds were taken, or at which deliberations that resulted in such formal actions
were held, were open meetings, and such formal actions were taken and any such deliberations
took place while such meetings, after proper notice, were open to the public, in compliance with
all legal requirements including KRS 61.810 though and including 61.850.
Section 17. Effective Date. This Bond Ordinance shall become effective immediately
upon adoption and publication of a summary thereof, as provided by law.
[Signature page to follow]
J
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SIGNATURE PAGE TO BOND ORDINANCE
ORDINANCE 25-2021
SERIES 2011A AND 2011B BOND REFINANCING
PUBLICLY READ AND PASSED FIRST TIME: NOVEMBER 2.2021
PUBLICLY READ AND PASSED SECOND TIME: _ NOVEMBER 16, 2021
APPROVED:
Wendell A. Lynch
Mayor
ATTEST:
Christine M. Fletcher, MMC
City Clerk
CERTIFICATION
Ordinance )-S-aWL I
was published in the Kentucky New Era
on:, �' I
As Certified By atm
I, the undersigned, do hereby certify that I am the duly qualified and acting City Clerk of
the City of Hopkinsville, Kentucky, and as such City Clerk, I further certify that the foregoing is
a true, correct, and complete copy of a Bond Ordinance duly enacted by the City Council of the
City at a duly convened meeting held on November 16, 2021, on the same occasion signed by the
Mayor as evidence of his approval, and now in full force and effect, all as appears from the official
records of the City in my possession and under my control.
Witness my hand as of November 16, 2021.
FIRM
City Clerk
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EXHIBIT A
to
BOND ORDINANCE
Unless this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation
("DTC") to issuer or its agent for registration of transfer, exchange, or payment and any certificate issued is registered in the name
of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede &
Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner
hereof, Cede & Co., has an interest herein.
COMMONWEALTH OF KENTUCKY
CITY OF HOPKINSVILLE, KENTUCKY
GENERAL OBLIGATION REFUNDING BOND, SERIES 2021 [A] [B]
No. R-1
BOND DATE:
MATURITY DATE: February 1,
INTEREST RATE:
REGISTERED HOLDER:
PRINCIPAL AMOUNT:
KNOW ALL PERSONS BY THESE PRESENTS: That the City of Hopkinsville,
Kentucky (the "City"), for value received, hereby acknowledges itself obligated to, and promises
to pay to the registered holder identified above, or registered assigns, the principal sum identified
above (or, if any part thereof has been paid, the balance thereof remaining unpaid), on the maturity
date specified above, and to pay interest on the principal sum (or, if any part thereof has been paid,
the balance thereof remaining unpaid) from the date hereof, payable each February 1st and
August 1st, commencing February 1, 2022, at the Interest Rate per annum identified above,
calculated on the basis of a three hundred sixty-day year with thirty -day months, except as the
provisions hereinafter set forth with respect to prior redemption may be and become applicable
hereto. The principal of and interest on this bond are payable, without deduction for exchange,
collection, or service charges, in lawful money of the United States of America. Principal is
payable at the designated corporate trust office of [Paying Agent Name], [Paying Agent City],
[Paying Agent State], or any successor (the "Paying Agent and Registrar") or by other transfer of
funds acceptable to the Paying Agent and Registrar and such owner. All interest on this bond and
principal payable prior to the final maturity date shall be payable by check or draft mailed to the
record date registered holder hereof at the address shown on the registration records kept by the
Paying Agent and Registrar or by other transfer of funds acceptable to the Paying Agent and
Registrar and such owner. The record date shall be the fifteenth day of the month preceding each
interest payment date.
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This Bond is one of an issue of Bonds of like leiiui acid effect, cxccpt as to denomination
and maturity, numbered from R-1 upward, inclusive, of the denomination of $5,000 or any integral
multiple thereof originally aggregating [I dollars ($[ 1) in principal amount, issued for the
purposes of paying the costs of the (i) refunding the City's outstanding General Obligation Bonds,
[Series 2011 A] [Series 2011 B] (ii) all or a portion of the costs of issuance of the Bonds, all pursuant
to and in full compliance with the general laws of the Commonwealth of Kentucky and particularly
Chapter 66 of the Kentucky Revised Statutes, and pursuant to an ordinance duly adopted by the
City Council of the City on November 16, 2021 (the "Bond Ordinance") upon the affirmative vote
of at least a majority of the members of its City Council at a public meeting duly and regularly
held, and after filing proper notice with the State Local Debt Officer of the Commonwealth of
Kentucky.
This Bond and the issue of which it forms a part is a general obligation of the City and the
full faith, credit, and taxing power of the City are pledged to the payments due hereunder. THIS
BOND IS CONTINUALLY SECURED BY THE FAITH, CREDIT, AND TAXING POWER OF
THE CITY.
The Bonds mature on February 1 of the following years, in the respective principal amounts
and bear interest at the following rates of interest:
Interest Rate
Maturity Date Amount Per Annum
February 1, 2022
February 1, 2022
February 1, 2023
February 1, 2024
February 1, 2025
February 1, 2026
February 1, 2027
February 1, 2028
February 1, 2029
February 1, 2030
February 1, 2031
February 1, 2032
February 1, 2033
February 1, 2034
February 1, 2035
[February 1, 2036]
[February 1, 2037]
The Bonds maturing on or after February 1, 2030 shall be subject to optional redemption
prior to their maturity on any date on or after February 1, 2029, in whole or in part, in such order
of maturity as shall be designated in writing by the City, and by lot within a maturity, at the election
of the City upon thirty-five days' written notice to the Paying Agent and Registrar at a redemption
price equal to the par amount thereof, plus accrued interest to the date of redemption.
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[INSERT ANY MANDATORY SINKING FUND REDEMPTION REQUIREMENTS]
At least thirty days before the redemption date of any Bonds the Paying Agent and
Registrar shall cause a notice of such redemption signed by the Paying Agent and Registrar, to be
mailed, first class, postage prepaid, to all registered owners of the Bonds to be redeemed at their
addresses as they appear on the registration books kept by the Paying Agent and Registrar, but
failure to mail any such notice shall not affect the validity of the proceedings for such redemption
of Bonds for which such notice has been sent. Each such notice shall set forth the date fixed for
redemption, the redemption price to be paid and, if less than all of the Bonds being payable by
their terms on a single date then outstanding shall be called for redemption, the distinctive number
or letters, if any, of such Bonds to be redeemed.
On the date so designated for redemption, notice having been published in the manner
under the conditions hereinabove provided and moneys for payment of the redemption price being
held in the Payment Fund by the Paying Agent and Registrar for the registered owners of the Bonds
to be redeemed, the Bonds so called for redemption shall become and be due and payable at the
redemption price provided for redemption of such Bonds on such date, interest on the Bonds so
called for redemption shall cease to accrue, and the registered owners of such Bonds shall have no
right in respect thereof except to receive payment of the redemption price thereof.
Notwithstanding the foregoing, any such redemption may be conditioned upon funds being
deposited with the Paying Agent and Registrar on or before the applicable redemption date in an
amount sufficient to carry out such redemption. A failure to make such deposit shall not constitute
an event of default under this Resolution and the redemption in such event shall be cancelled. If
the City knows in advance of an applicable redemption date that the necessary deposit will not
occur, the City shall notify the Paying Agent and Registrar with instructions to give notice to the
registered owner of the cancellation of the redemption.
No recourse shall be had for the payment of the principal of or the interest on this Bond, or
for any claim based hereon, against any officer, agent or employee, past, present, or future, of the
City, as such, either directly or through the City, whether by virtue of any constitutional provision,
statute, or rule of law, or by the enforcement of any assessment or penalty, or otherwise; all such
liability of such officers, agents or employees is hereby renounced, waived, and released as a
condition of and as consideration for the issuance, execution, and acceptance of this Bond.
It is hereby certified that all acts, conditions, and things required to be done, to occur or be
performed precedent to and in the issuance of this Bond, or in the creation of the obligations of
which this Bond is evidence, have been done, have occurred and have been performed in regular
and due form and manner as required by law; that the faith, credit, and taxing power of the City
are hereby irrevocably pledged for the prompt payment of the principal hereof and interest hereon;
that the repayment obligation represented by this Bond is not in excess of any constitutional or
statutory limitation; and that due provision has been made for the levy and collection of a tax
sufficient in amount to pay the interest on this Bond as it falls due and to provide for the redemption
of this Bond at maturity or upon earlier redemption.
F—` [Signature page to follow]
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SIGNATURE PAGE TO BOND
IN WITNESS WHEREOF, the City has caused this Bond to be signed either manually or
by facsimile in its name by its Mayor and duly attested either manually or by facsimile by its City
Clerk and an impression or facsimile of the City's seal to be imprinted hereon, as of the date set
forth above.
[Seal]
Attest:
LI-A
CITY OF HOPKINSVILLE, KENTUCKY
Mayor
City Clerk
CERTIFICATE OF AUTHENTICATION
This is to certify that this Bond is one of the Bonds described hereinabove.
Date of Authentication:
Authorized Signature
[Paying Agent Name]
Paying Agent and Registrar
Ordinance 25-2021
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CERTIFICATE
It is hereby certified that the following is a correct and complete copy of the text of the
legal opinion of Dinsmore & Shohl LLP, Louisville, Kentucky, regarding the issue of which the
within bond is one, the original of which opinion was manually executed, dated and issued as of
the date of delivery of and payment for the issue and a copy of which is on file with the
undersigned.
City Clerk
[FORM OF APPROVING OPINION]
Ordinance 25-2021
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ASSIGNMENT
The following abbreviations, when used in the inscription on this Bond or in the assignment below, shall be
construed as though they were written out in full according to applicable laws or regulations:
TEN COM - as tenants in common
TEN ENT - as tenants by the entireties
JT TEN - as joint tenants with right of survivorship and not as tenants in
common and not as community property
UNIF TRANS
MIN ACT - Custodian
(Custodian) (Minor)
under Uniform Transfer to Minors Act
(State)
Additional abbreviations may be used although not in the above list.
FOR VALUE RECEIVED, the undersigned hereby sells, assigns, and transfers unto:
(please print or typewrite social security number or other identifying number and name and address of transferee)
the within Bond and does hereby irrevocably constitute and appoint
or its successor as Paying Agent and Registrar to transfer the Bond on the
books kept for registration thereof with full power of substitution in the premises.
Signature guaranteed:
(Type or Print Name)
(Signature)
NOTE: The signature of the assignor must be
guaranteed by an eligible guarantor institution which
is a member of or participant in a signature guarantee
program, pursuant to Securities and Exchange
Commission Rule 17Ad-15 or any successor
provision.
Ordinance 25-2021
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AFFP
ORDINANCE 25-2021
Affidavit of Publication
STATE OF KY ) SS
COUNTY OF CHRISTIAN )
Leona A. Hendrix, being duly sworn, says:
That she is Accounting Clerk of the Kentucky New Era, a
newspaper of general circulation, printed and published in
Hopkinsville, Christian County, KY; that the publication, a
copy of which is attached hereto, was published in the
said newspaper on the following dates:
November 24, 2021
Publisher's Fee: $ 347.88
That said newspaper was regularly issued and circulated
on those dates.
SIGNED:
0 o Ane=Ll
Subscribed to and sworn to me this 24th day of November
2021.
OTAA
• IU NJ. 63,?,�B • t It
MY co.!
EYVIRLS
00007678 70223695 ps 2023
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Tiffany Terrell
City of Hopkinsville
715 S. Virginia St
Hopkinsville, KY 42240
ORDINANCE 25-2021
AN ORDINANCE OF THE CITY OF HOPKINSVILLE, KENTUCKY AUTHORIZING
THE ISSUANCE OF ITS CITY OF HOPKINSVILLE, KENTUCKY (1) GENERAL
OBLIGATION REFUNDING BONDS, SERIES 2021A IN THE APPROXIMATE
AGGREGATE PRINCIPAL AMOUNT OF $1,830,000 (SUBJECT TO A PERMITTED
ADJUSTMENT INCREASING THE PRINCIPAL AMOUNT OF THE SERIES 2021A
BONDS BY UP TO $180,000 OR DECREASING THE PRINCIPAL AMOUNT OF
THE SERIES 2021A BONDS BY ANY AMOUNT) FOR THE PURPOSE OF
REFUNDING IN
ADVANCE OF MATURITY THE CITY'S OUTSTANDING
GENERAL OBLIGATION BONDS, SERIES 2011A AND (11)
GENERAL OBLIGATION REFUNDING BONDS, SERIES 2021 B IN THE
APPROXIMATE AGGREGATE PRINCIPAL AMOUNT OF $6,575,000 (SUBJECT
TO A PERMITTED ADJUSTMENT
INCREASING THE PRINCIPAL AMOUNT OF THE SERIES 2021E BONDS BY UP
TO $655,000 OR DECREASING THE PRINCIPAL AMOUNT OF THE SERIES
2021B BONDS BY AN ANY AMOUNT) FOR THE PURPOSE OF REFUNDING IN
ADVANCE OF
MATURITY THE CITY'S OUTSTANDING GENERAL OBLIGATION BONDS,
SERIES 2011 B; APPROVING THE FORMS OF THE BONDS; AUTHORIZING
DESIGNATED OFFICERS TO EXECUTE AND DELIVER THE BONDS;
AUTHORIZING AND DIRECTING THE FILING OF A NOTICE OR NOTICES WITH
THE STATE
LOCAL DEBT OFFICER; PROVIDING FOR THE PAYMENT AND SECURITY OF
THE BONDS; ESTABLISHING A BOND PAYMENT FUND FOR THE BONDS;
AFFIRMING THE EXISTING SINKING FUND; AUTHORIZING ACCEPTANCE OF
THE BIDS OF THE PURCHASERS FOR THE BONDS; AND REPEALING
INCONSISTENT ORDINANCES.
SUMMARY
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
HOPKINSVILLE, KENTUCKY, AS FOLLOWS:
This Ordinance authorizes the issuance of two series of general obligation bonds
designated as "General Obligation Refunding Bonds, Series 2021A" (the "Series
2021A Bonds") and "General Obligation Refunding Bonds, Series 2021 B" (the
"Series 2021 B Bonds," and together with the Series 2021A Bonds, the "Bonds") by
the City of Hopkinsville, Kentucky (the "City") for the purpose of, in the case of the
—Series 2021A Bonds: (1) refunding in advance of maturity the City's outstanding
General Obligation Bonds, Series 2011A. the proceeds of which were used to
refinance a Lease Agreement with the Kentucky League of Cities funding Trust,
dated April 11, 2006, the proceeds of which financed: (a) the acquisition,
construction, equipping, and installation of an Aquatic Park; (b) the acquisition,
construction, and renovation of a Public Works department building; and (c) the
construction and landscaping of a memorial park
for Fort Campbell soldiers; and (2) to pay costs of issuance of the Series 2011A
Bonds, and In the case of the Series 2021 B Bonds: (1) refunding in advance of
maturity the City's outstanding Series 20118 Bonds, the proceeds of which were
used to finance the acquisition, construction, installation, and equipping of a new city
hall and (2) pay the costs of issuance of the Series 20116 Bonds
Provisions are made in the Ordinance for the payment of the Bonds and the security
therefor; for the application of the proceeds of the Bonds; for the establishment of a
bond payment fund for the continuation of the City's previously established sinking
fund; and for certain covenants of the City with respect to the Bonds. The Series
2021A Bonds are to be sold at public, competitive sale, and shall mature, or be
subject to mandatory sinking fund redemption, in varying amounts on February 1,
2022 and each February 1 thereafter through February 1, 2035. The Series 2021E
Bonds are to be sold at public, competitive sale, and shall mature, or be subject to
mandatory sinking fund redemption, in various amounts on February 1, 2022 and
each February 1 thereafter through February 1, 2037. The Bonds pledge the full
faith, credit, and taxing power of the City and provision is made for the collection of a
tax to pay the principal of, and interest on the Bonds, subject to certain credits, as
provided in Section 7 of the Ordinance. As required by KRS 83A.060, the following
Section 7 of the Ordinance Is set forth In its entirety:
"Section 7. General Obligation. The Bonds shall be full general obligations of the
City and, for the payment of the Bonds, and the interest thereon, the full faith, credit,
and taxing power of the City are hereby pledged for the prompt payment thereof.
During the period the Bonds are outstanding, there shall be and there hereby is
levied on all the taxable property in the City, in addition to all other taxes, without
limitation as to rate, a direct tax annually in an amount sufficient to pay the principal
of and interest on the Bonds when and as due, it being hereby found and
determined that current tax rates are within all applicable limitations. The tax shall be
and is hereby ordered computed, certified, levied, and extended upon the tax
duplicate and collected by the same officers in the same manner and at the same
time that taxes for general purposes for each of the years are certified, extended,
and collected. The tax shall be placed before and in preference to all other items and
for the full amount thereof provided, however, that in each year to the extent that the
other lawfully available funds of the City are available for the payment of the Bonds,
and are appropriated for such purpose, the amount of such direct tax upon all of the
taxable property in the City shall be reduced by the amount of such other funds so
available and appropriated.'
The undersigned Attorney at Law, licensed to practice in Kentucky, hereby certifies
that the foregoing title summary of the ordinance of the City of Hopkinsville,
Kentucky, was prepared by the undersigned and constitutes a general summary of
essential provisions of the ordinance, reference to the full text of which ordinance is
hereby made for a complete statement of its provisions and terms.
By: /a/ Mark S. Franklin
Dinsmore & Shohl LLP
101 South Fifth Street, Suite 2500
Louisville, Kentucky 40202
ORDINANCE 25-2021 SUMMARY
SERIES 2011A AND 2011E BOND REFINANCING
PUBLICLY READ AND PASSED FIRST TIME: NOVEMBER 2, 2021
PUBLICLY READ AND PASSED SECOND TIME: NOVEMBER 16, 2021
APPROVED:
/s/Wendell A. Lynch
Wendell A. Lynch
Mayor
ATTEST:
/s/Christine M. Fletcher
Christine M. Fletcher, MMC
City Clerk
This advertisement was paid for by the City of Hopkinsville
using taxpayer dollars in the amount of $347.88.