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Resolution of the County of Allegheny (the "County") acknowledging that the require public notice of the County's desire to enter into lease rental debt has been duly published in a newspaper of general circulation and that the County ratifies Ordinance 38-02 in accordance with the Local Government Unit Debt Act, which Ordinance provides for the incurrance of lease rental debt in an aggregate principal amount not to exceed sixty five million dollars ($65,000,000) by entering into a Guaranty Agreement (the "Guaranty Agreement") with the Allegheny County Industrial Development Authority (the "Authority"): determining that such lease rental debt shall be evidenced by the Guaranty Agreement by which the County agrees
to guaranty the debt service on the Allegheny County Industrial Development Authority bonds to be issued by the Authority in one or more series of bonds in an aggregate principal amount of up to $65,000,000; authorizing and directing the proper officers of the County (a) to prepare to certify and to file the debt statement required by section 8110 of the Pennsylvania Local Government Unit Debt Act; and (b) to execute, to attest and to deliver, as appropriate, the
Guaranty Agreement between the County and said Authority; approving the form of said Guaranty Agreement; specifying the maximum amount of the County obligation pursuant to said Guaranty Agreement and the sources of payment of such guaranty obligation and pledging the full faith, credit and taxing power of the County in support of such debt obligation; providing for
proper officers of the County to take all other required, necessary or desirable related action in connection with said project and said Guaranty Agreement; providing for the effectiveness of this ordinance; providing for the severability of provisions of this ordinance: and providing for repeal of all inconsistent ordinances or resolutions or parts of ordinances or resolutions.
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Whereas, the County of Allegheny ac...
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