TITLE
A Resolution approving a project for the benefit of Duquesne University of the Holy Spirit (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 $35,000,000, 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, the University, a nonprofit corporation organized under the laws of the Commonwealth of Pennsylvania, desires to undertake a project, as hereinafter defined, to be financed through the issuance of one or more series of tax-exempt or taxable bonds in an aggregate principal amount not expected to exceed $35,000,000 (the "Bonds") by the Allegheny County Higher Education Building Authority (the "Authority"); and
Whereas, the Project (“Project”) shall collectively consist of all or any portions (as determined by the University) of the following:
(a) miscellaneous capital projects in the University's capital budget over the next 18 months; and
(b) the possible refinancing of all or a portion of the Authority's University Refunding Bonds, Series of 2003 (Duquesne University), University Revenue Bonds, Series C of 2005 (Duquesne University), and University Revenue Bonds, Series B of 2007 (the "Prior Bonds"); and
(c) funding any necessary reserves; and
(d) the costs relating to the issuance of the Bonds, including, but not limited to, the costs of providing credit and/or liquidity enhancement for the Bonds; 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 resolution...
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