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Resolution approving a project and declaring the financing of such project by the Allegheny County Higher Education Building Authority on behalf of Duquesne University of the Holy Spirit as desirable for the health, safety and welfare of the people in the county.
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Whereas, Duquesne University of the Holy Spirit, a nonprofit corporation organized under the laws of the Commonwealth of Pennsylvania (the "University"), desires to undertake a project consisting of financing, through the issuance of one or more series of bonds in an aggregate principal amount not expected to exceed $48,000,000 (the "Bonds") by the Allegheny County Higher Education Building Authority (the "Authority"), the costs of: (i) expansion of the Energy Center, construction of Rooney Field grandstands, renovations to the second floor of Duquesne Union, renovations to St. Martin Hall, replacement of the HVAC system(s) serving Brottier Hall and Canevin Hall, replacement and/or installation of steam and chilled water piping to A.J. Palumbo Center, and other miscellaneous capital expenditures (the "New Money Project"), (ii) the possible refinancing of all or a portion of the Authority's University Revenue Bonds, Series A of 2004 (Duquesne University) and University Revenue Bonds, Series A of 2005 (Duquesne University) (such bonds are referred to collectively as the "Prior Bonds" and the refunding of the Prior Bonds is referred to hereinafter as the "Refunding Project"), (iii) funding any necessary reserves, and (iv) issuance of the Bonds, including, but not limited to, the costs of providing credit and/or liquidity enhancement for the Bonds (collectively, the "Project"); and
Whereas, the Prior Bonds were issued for the purpose of financing various capital projects (together, the "Prior Projects"), all of which were previously declared by resolutions of the Council of the County of Allegheny, Pennsylvania (the "County") to be desirable for the health, safety and welfare of the pe...
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