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Resolution of the Council of Allegheny County that it is desirable for the health, safety and welfare of the people in the area served by Ohio Valley General Hospital for the Allegheny County Hospital Development Authority to issue its obligation on behalf of Ohio Valley General Hospital for a project consisting of: financing all or a portion of the costs of (a) acquiring and installing medical equipment for use at the hospital, including renovation of the hospital facilities to accommodate the equipment; and (b) reimbursing the hospital for moneys advanced by the hospital for the acquisition of the equipment; and approving the issuance of the obligation by the Allegheny County Hospital Development Authority for the purposes of the public approval requirements of the internal revenue code.
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Whereas, the Allegheny County Hospital Development Authority (the "Issuer") is a body corporate and politic duly organized, existing and in good standing under the laws of the Commonwealth of Pennsylvania (the "Commonwealth"), pursuant to the provisions of the Municipality Authorities Act, 53 Pa. C.S.A. ยง5601 et seq., as amended (the "Act"), the purpose and intent of which is to benefit the people of the Commonwealth by, among other things, increasing their commerce, health, safety and prosperity; and
Whereas, the Issuer is authorized by law to acquire, hold, construct, finance, improve, maintain, operate, own and lease as lessee or lessor, hospitals and health centers, to borrow money, to make and issue negotiable bonds and to secure the payment of such bonds or any part thereof by pledge or deed of trust of all or any of its revenues and receipts, and to make such agreements with the purchasers or holders of such bonds, or with others in connection with any such bonds, whether issued or to be issued, as the Issuer shall deem advisable; and
Whereas, Ohio Valley General Hospital (the "Hospital"), a not-for-profit corporation organized and existing under...
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