NOTICE OF PUBLIC HEARING
Notice is hereby given that a public hearing as required by Section 147(f) of the Internal Revenue Code of 1986 (the "Code") will be held telephonically at 10:00 a.m. Eastern Standard Time on July 28, 2025 by the Kentucky Bond Development Corporation (the "Issuer"), concerning the proposed issuance, in one or more series or sub-series, of up to $450,000,000 aggregate principal amount of the Issuer's Hospital Revenue Bonds, City of Williamsburg, Series 2025 (Baptist Healthcare System Projects) (the "Bonds"), pursuant to a resolution or resolutions of the Issuer.
The proceeds of the Bonds will be loaned to Kentuckiana Sustainable Energy Partners LLC, a Delaware limited liability company and a disregarded entity for federal income tax purposes (the "Borrower"), the sole member of which is Genesis Capital Finance Corporation, a Delaware nonstock corporation and an organization described in Section 501(c)(3) of the Code. The Borrower will transfer all or a portion of the proceeds of the Bonds to Baptist Healthcare System, Inc. ("Baptist Health"), a Kentucky not-for-profit corporation and an organization described in Section 501(c)(3) of the Code, and the Borrower and/or Baptist Health will use the proceeds of the Bonds to: (1) pay or reimburse the prior payment of all or a portion of the costs of acquiring, constructing, renovating, equipping, or otherwise implementing certain energy-related improvements at certain Baptist Health hospitals and other healthcare facilities, as further described below (collectively, the "Energy Projects"); (2) to pay or reimburse the prior payment of all or a portion of the costs of acquiring, constructing, renovating, equipping, or otherwise improving certain Baptist Health hospitals and other healthcare facilities, as further described below (collectively, the "Non-Energy Projects" and together with the Energy Projects, the "2025 Projects"); (3) pay interest on the Bonds as permitted by the Code; and (4) pay or reimburse the prior payment of certain costs of issuing the Bonds.
All of the 2025 Projects will be located in the Commonwealth of Kentucky, and owned or operated by Baptist Health or Baptist Health Medical Group ("BHMG"), an affiliate of Baptist Health and an organization described in Section 501(c)(3) of the Code.
Energy Projects:
The proceeds of the Bonds in the respective maximum principal amounts set forth below will be used by Baptist Health for financing, refinancing, or reimbursing all or a portion of the costs of acquiring, constructing, renovating, remodeling, equipping, or otherwise implementing certain energy-related improvements to hospitals and other healthcare facilities located on the following healthcare campuses:
(a) Baptist Health Louisville, generally located at 4000 Kresge Way, St. Matthews, Jefferson County, Kentucky, in the general area bounded by Kresge Way, Breckenridge Lane, Interstate 64, and Brown Park ($36,200,000 maximum principal amount);
(b) Baptist Health LaGrange, generally located at 1025 New Moody Lane and 1023 New Moody Lane, LaGrange, Oldham County, Kentucky ($11,300,000 maximum principal amount);
(c) Baptist Health Lexington, generally located at 1740 Nicholasville Road, Lexington, Fayette County, Kentucky, in the general area bounded by Nicholasville Road, Hiltonia Park, University Court, and Shawnee Place ($55,000,000 maximum principal amount);
(d) Baptist Health Hamburg, generally located at 3000 Baptist Health Boulevard, Lexington, Fayette County, Kentucky, in the general area bounded by Commerce Avenue, Madden Drive, and Sisson Way ($10,000,000 maximum principal amount);
(e) Baptist Health Paducah, generally located at 2501 Kentucky Avenue, Paducah, McCracken County, Kentucky, in the general area bounded by Kentucky Avenue, South 27th Street, Broadway Street, and South 24th Street ($41,600,000 maximum principal amount);
(f) Baptist Health Corbin, generally located at 1 Trillium Way, Corbin, Whitley County, Kentucky, ($14,500,000 maximum principal amount);
(g) Baptist Health Hardin, generally located at 913 North Dixie Highway, Elizabethtown, Hardin County, Kentucky, in the general area bounded by North Dixie Highway, Cardinal Drive, Long Avenue, Helm Court, Hill Street, and Layman Lane ($21,500,000 maximum principal amount); and
(h) Baptist Health Richmond, generally located at 801 Eastern Bypass, Richmond, Madison County, Kentucky, including 789, 793, and 795 Eastern Bypass, Richmond, Madison County, Kentucky ($12,100,000 maximum principal amount).
Non-Energy Projects:
The proceeds of the Bonds in the respective maximum principal amounts set forth below will be used by Baptist Health and/or BHMG for financing, refinancing, or reimbursing all or a portion of the costs of acquiring, developing, constructing, renovating, building out, equipping, or otherwise implementing improvements to hospitals and other healthcare facilities generally located at the following locations, all as described below:
(a) Construction, renovation, and equipping of improvements to Baptist Health Louisville, generally located at 4000 Kresge Way, St. Matthews, Jefferson County, Kentucky, including, but not limited to, improvements to the surgery department and the neonatal intensive care unit ($57,000,000 maximum principal amount);
(b) Development, construction, and equipping of an inpatient hospital and/or outpatient health care facility located in the Clore Station Development, generally located at in the northeast quadrant of the intersection of KY 329 and Interstate 71 (Exit 14), in Oldham County, Kentucky ($450,000,000 maximum principal amount);
(c) Construction, renovation, and equipping of improvements to Baptist Health LaGrange, generally located at 1025 New Moody Lane, LaGrange, Oldham County, Kentucky, including, but not limited to, improvements to the surgery, hematology and oncology, and behavioral health departments ($23,000,000 maximum principal amount);
(d) Construction, renovation, and equipping of a central pharmacy service center located at 1051 New Moody Lane, LaGrange, Oldham County, Kentucky ($20,000,000 maximum principal amount);
(e) Construction, renovation and equipping of improvements to Baptist Health Lexington, generally located at 1740 Nicholasville Road, Lexington, Fayette County, Kentucky, including, but not limited to, improvements to the surgery, emergency, pharmacy, cardiothoracic and vascular departments, intensive care, post-acute care, and progressive care units, cardiac catheterization spaces, and physician clinic and office space ($100,000,000 maximum principal amount);
(f) Construction and equipping of Baptist Health Hamburg inpatient and/or outpatient care facility, generally located at 3000 Baptist Health Boulevard, Lexington, Fayette County, Kentucky, including, but not limited to, emergency, hematology and oncology, imaging, and surgery departments ($320,000,000 maximum principal amount);
(g) Construction, renovation and equipping of a medical office building located at 2530 Sir Barton Way, Lexington, Fayette County, Kentucky ($5,000,000 maximum principal amount);
(h) Construction, renovation and equipping of improvements to Baptist Health Paducah, generally located at 2501 Kentucky Avenue, Paducah, McCracken County, Kentucky, including, but not limited to, improvements to the surgery department ($50,000,000 maximum principal amount);
(i) Acquisition, development, construction, and equipping of an outpatient health care facility located in the Gideon's Crossing Business Development, generally located south and west of KY 121 and Andrea Drive and east of Paducah Road, in Mayfield, Graves County, Kentucky ($32,000,000 maximum principal amount);
(j) Construction, renovation and equipping of improvements to Baptist Health Corbin, generally located at 1 Trillium Way, Corbin, Whitley County, Kentucky, including, but not limited to, construction of a new patient care tower expected to include emergency department and ICU space, and renovation, relocating and equipping of other hospital departments in connection with the construction of the new tower, including the NICU department ($150,000,000 maximum principal amount);
(k) Construction, renovation and equipping of improvements to Baptist Health Hardin, generally located at 913 North Dixie Highway, Elizabethtown, Hardin County, Kentucky, including, but not limited to, construction, build-out and equipping of the Hardin Medical Pavilion located at 200 Cardinal Drive, Elizabethtown, Hardin County, Kentucky, and renovation, relocation and equipping of other hospital departments in connection with the construction of the Hardin Medical Pavilion, including OB/GYN, labor and delivery and NICU departments ($125,000,000 maximum principal amount); and
(l) Construction, renovation and equipping of improvements to Baptist Health Richmond, generally located at 801 Eastern Bypass, Richmond, Madison County, Kentucky, including, but not limited to, improvements to the emergency and endoscopy departments, the intensive care and observation units, and construction of a loading dock ($40,000,000 maximum principal amount).
The Issuer, at the request of the Borrower, reserves the right to issue Bonds under the above-described plan of financing for less than all of the above-described purposes and/or in an aggregate amount less than the maximum aggregate amount shown above; and component parts of the projects to be financed may have allocations that are less (or insubstantially more) than the estimated maximum allocations shown above.
Interested persons who wish to express their opinions on the proposed financing may participate in the telephonic public hearing by calling the telephonic conference line at 1-833-827-2649 (a toll-free telephone number), Conference I.D.: 121 205 89, or by submitting written comments to the address below, provided such written comments are delivered to the Issuer prior to the time of the public hearing.
Additional information concerning the proposed financing may be obtained from, and written comments should be address to, the Kentucky Bond Development Corporation, 100 East Vine Street, Suite 800, Lexington, Kentucky 40507, Attention: Steven Pickarski, Telephone: 859-977-3743, Email: spickarski@klc.org.
This notice is published in accordance with the Code and the regulations promulgated thereunder.
Notice dated: July 14, 2025.
Kentucky Bond Development Corporation
IPL0254390
Jul 16 2025