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A Resolution of the Council of the County of Allegheny adopting and authorizing financing of a 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 Allegheny 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 $44,500,000 (the "Bonds") by the Allegheny County Higher Education Building Authority (the "Authority"), all or a portion of the costs of (i) constructing, furnishing and equipping an athletic/recreation complex to be located on Forbes Avenue, (ii) various capital expenditures, including, but not limited to, installation of air handling units at Mellon Hall and Duquesne Towers, a grandstand at Rooney Field, an HVAC system in Brottier Hall, enterprise resource planning software, and other miscellaneous capital expenditures, (iii) renovations of the A.J. Palumbo Center, (iv) renovations of St. Martin Hall, (v) the possible refinancing of the Authority's University Revenue Bonds (Duquesne University Project) Series A of 1996 (the "Prior Bonds"), (vi) funding any necessary reserves, and (vii) 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, including construction of a co-generation plant, construction of parking facilities, acquisition of building and property which were used for pharmacy school classrooms and other University educational and administrative uses, construction of a student residence facility, and expansion of the existing...
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