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A Resolution Approving a Project for the benefit of Carnegie Mellon University (the “University”) to be financed by the Allegheny County Higher Education Building Authority by the issuance of the Authority's tax-exempt or taxable bonds, to be issued in one or more series, in the aggregate principal amount not to exceed $135,000,000 including required reserves (if any) and costs of issuance, provided that the taxing power of the County of Allegheny , Pennsylvania, shall not be obligated in any way with respect to the Bonds (hereinafter defined), and determining that the purpose of the financing will be to benefit the health and welfare of the citizens of Allegheny County, Pennsylvania.
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Whereas, the University, a nonprofit corporation organized under the laws of the Commonwealth of Pennsylvania, desires to undertake a project consisting of financing, through the issuance of one or more series of tax-exempt or taxable bonds in an aggregate principal amount not expected to exceed $135,000,000 including required reserves (if any) and costs of issuance (the “Bonds) by the Allegheny County Higher Education Building Authority (the “Authority”); and
Whereas, the Project (the “Project”) shall consist of all or any portions (as determined by the University) of the following:
(a) a refunding project consisting of the current refunding of all or portions of the Allegheny County Higher Education Building Authority University Revenue Bonds (Carnegie Mellon University), Series 2006 and Series 2007 (the "Refunded Bonds"); and
(b) payment of costs of issuance, credit and liquidity support, if any, and other costs related to the issuance of the 2008 Bonds hereafter described; and
Whereas, the Authority was created by the County of Allegheny, Pennsylvania (the "County") under the Municipality Authorities Act, as amended (the "Act"), and is authorized under the Act to issue its bonds for the purposes aforesaid, and the Authority has determine...
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