NEW ISSUES – BOOK ENTRY ONLY RATINGS: Aa1; AA+; AAA Moody’s/Standard & Poor’s/Fitch Ratings See ―RATINGS‖ herein In the opinion of Co-Bond Counsel, based on existing laws, regulations and judicial decisions and as of the date of original issuance of the Series 2010B Bonds and Series 2010C Bonds, and subject to the conditions set forth in "TAX TREATMENT" herein, the interest on the Series 2010B Bonds is excludable from gross income for federal and Kentucky income tax purposes. Co-Bond Counsel is further of the opinion that the interest on the Series 2010B Bonds will not be an item of tax preference for purposes of computing the federal alternative minimum tax. Interest on the Series 2010C Bonds is included in gross income for federal income tax purposes. Co-Bond Counsel is further of the opinion that the Bonds are exempt from ad valorem taxation, and the interest thereon is exempt from income taxation, by the Commonwealth of Kentucky and all its political subdivisions and taxing authorities. See "TAX TREATMENT" herein. LOUISVILLE/JEFFERSON COUNTY (KENTUCKY) METRO GOVERNMENT $1,985,000 General Obligation Bonds, Series 2010B $7,400,000 Taxable General Obligation Bonds (Qualified Energy Conservation Bonds – Direct Payment to Issuer), Series 2010C Dated: Date of Delivery Bonds Due: As set forth on the inside cover The Series 2010B Bonds (the ―Series 2010B Bonds‖) and the Series 2010C Bonds (the ―Series 2010C Bonds‖ and collectively with the Series 2010B Bonds, the "Bonds"), are issuable as fully registered bonds and, when issued, will be registered in the name of Cede & Co., as nominee of The Depository Trust Company (―DTC‖), New York, New York, to which principal and interest payments on the Bonds will be made so long as Cede & Co. is the registered owner of the Bonds. Individual purchases of the Bonds will be made in Book-Entry Only form, and individual purchasers (―Beneficial Owners‖) of the Bonds will not receive physical delivery of bond certificates. Interest will be payable on the Bonds on August 1 and February 1, commencing August 1, 2011 as described herein. Principal will be payable on August 1 as described herein. U.S. Bank National Association has been designated as Paying Agent, Bond Registrar, and Filing Agent for Interest Subsidy Payments. The Bonds will be issued and registered in the name of Cede & Co., as nominee of The Depository Trust Company, New York, New York ("DTC"). DTC will act as securities depository for the Bonds. Purchasers will not receive certificates representing their ownership interest in the Bonds. Accordingly, principal, interest and premium, if any, on the Bonds will be paid by U.S. Bank National Association as Paying Agent and Registrar, directly to DTC or Cede & Co., its nominee. DTC will in turn remit such principal, interest or premium to the DTC Participants (as defined herein) for subsequent distribution to the Beneficial Owners (as defined herein) of the Bonds. The Bonds will be issued in denominations of $5,000 each or integral multiples thereof. The Bonds will be direct general obligations of the Louisville/Jefferson County (Kentucky) Metro Government (the "Metro Government"). The full faith, credit and taxing power of the Metro Government are irrevocably pledged for the prompt payment of the principal of and interest on the Bonds. The Bonds are payable from taxes levied on all taxable property of the Metro Government without limitation as to rate or amount. The Bonds will not be subject to optional redemption; however the Series 2010C Bonds are subject to extraordinary optional redemption as described herein. __________________________________________________________________________________________________________________________________ FOR MATURITIES, INTEREST RATES AND PRICES/YIELDS, PLEASE REFER TO THE INSIDE OF THIS COVER PAGE ___________________________________________________________________________________________________________________________________ The Bonds are offered when, as and if issued, subject to prior sale, to withdrawal or modification of the offer without notice, to the approval of validity by Co-Bond Counsel, Stites & Harbison PLLC, Louisville, Kentucky and Wyatt, Tarrant & Combs, LLP, Louisville, Kentucky, and to certain other conditions. Certain legal matters will be passed on for the Metro Government by James Carey, Esquire, of the Jefferson County Attorney’s Office. It is expected that the Bonds in definitive form will be available for delivery through the facilities of The Depository Trust Company in New York, New York on or about September 28, 2010. The cover page contains certain information for quick reference only. It is not a summary of this issue. Investors must read the entire Official Statement to obtain information essential to the making of an informed investment decision. Dated: September 14, 2010 Hutchinson, Shockey, Erley & Co. Morgan Keegan & Company, Inc. (Series 2010B) (Series 2010C) Louisville/Jefferson County (Kentucky) Metro Government Maturity Schedules $1,985,000 General Obligation Bonds, Series 2010B Maturing Interest Price/ CUSIP 1 August 1 Amount Rate Yield 546585 ER7 2011 370,000 2.00% 0.42% 546585 ES5 2012 390,000 2.00 0.56 546585 ET3 2013 400,000 2.00 0.73 546585 EU0 2014 410,000 2.00 0.97 546585 EV8 2015 415,000 2.00 1.31 $7,400,000 Taxable General Obligation Bonds (Qualified Energy Conservation Bonds – Direct Payment to Issuer), Series 2010C Maturing Interest Price/ CUSIP 1 August 1 Amount Rate Yield 546585 EW6 2027 7,400,000 4.70% 4.70% ______________ 1 CUSIP numbers have been assigned to the Bonds by S&P’s CUSIP Service Bureau, a division of The McGraw-Hill Companies, Inc., and are included solely for the convenience of the bondowners. Neither the Metro Government nor the Purchasers shall be responsible for the selection or correctness of the CUSIP numbers set forth above. ______________________________ LOUISVILLE/JEFFERSON COUNTY (KENTUCKY) METRO GOVERNMENT MAYOR The Honorable Jerry E. Abramson METRO COUNCIL Brent Ackerson Madonna Flood Tom Owen Jon Ackerson Judith Green James Peden Stuart Benson Doug Hawkins Barbara Shanklin Rick Blackwell Hal Heiner Glen Stuckel Cheri Bryant Hamilton Robert Henderson David Tandy Marianne Butler Deonte Hollowell Tina Ward-Pugh Kelly Downard Dan Johnson Vicki Welch Robin Engel Jim King Mary Woolridge Kenneth Fleming Kevin Kramer ADMINISTRATIVE William Summers, IV. .............................................................................................................................. Deputy Mayor Rick Johnstone .................................................................................................................... Director, Louisville at Work Mary Lou Northern .............................................................. Senior Advisor, Parks, Cultural Affairs & Faith Initiatives Mary Gwen Wheeler ............................................................ Senior Advisor, Director, Office of Policy & Management Christina Heavrin ............................... Special Counsel to the Mayor and Interim Director, Housing & Family Services Robert White .................................................................................................................... Chief, Louisville Metro Police Bruce Traughber .........................................................................................................Director, Economic Development Adewale Troutman, MD .......................................................................................... Director, Public Health & Wellness James Mims ................................................................................................................. Director, Codes and Regulations Mike Heitz ......................................................................................................................... Director, Parks & Recreation Ted Pullen .................................................................................................................... Director, Public Works & Assets Jane Driskell Sistrunk .................................................................................. Director, Office of Management & Budget Beth Niblock .................................................................................................................... Director, Technology Services Bill Hornig ........................................................................................................................... Director, Human Resources James Carey, Esquire ............................................................................................. Assistant Jefferson County Attorney _______________________________ CO-BOND COUNSEL Stites & Harbison PLLC Louisville, Kentucky Wyatt, Tarrant & Combs, LLP Louisville, Kentucky _______________________________ CO-FINANCIAL ADVISORS Morgan Keegan & Company, Inc. Memphis, Tennessee Public Financial Management, Inc. Memphis, Tennessee ________________________________ AUDITORS Crit Luallen, Auditor of Public Accounts for Commonwealth of Kentucky Frankfort, Kentucky ________________________________ TABLE OF CONTENTS INTRODUCTION ......................................................................................................................................................... 1 GLOSSARY OF TERMS USED IN OFFICIAL STATEMENT .................................................................................. 1 DESCRIPTION OF THE BONDS ...............................................................................................................................