title
A Resolution approving a Project for the benefit of the University of Pittsburgh Medical Center (“UPMC”) to be financed by the Allegheny County Hospital Development 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 in excess of $500,000,000, 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.
body
Whereas, UPMC, 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 $500,000,000 (the "Bonds") by the Allegheny County Hospital Development Authority (the "Authority"); and
Whereas, the Project (“Project”) shall consist of all or any portions (as determined by UPMC) of the following:
(a) reimburse UPMC for previously incurred capital expenditures for hospital and/or health care facilities; and
(b) finance certain new capital costs to be incurred by UPMC; and
(c) refund all or a portion of the Authority's outstanding (1) UPMC Health System Revenue Bonds, Series 2002A, consisting of a Subseries 2002A-1 and a Subseries 2002A-2; (2) University of Pittsburgh Medical Center Revenue Bonds, Series 2003A; (3) University of Pittsburgh Medical Center Revenue Bonds, Series 2004B-1; (4) University of Pittsburgh Medical Center Revenue Bonds, Series 2004B-2; (5) University of Pittsburgh Medical Center Revenue Bonds, Series 2005A, consisting of a Subseries 2005A-1 and a Subseries 2005A-2; and (6) University of Pittsburgh Medical Center Revenue Bonds, Subseries 2007A-3; and
(d) refund all or a porti...
Click here for full text