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Resolution authorizing an Amendment and Supplement to Amended and Restated Cooperation Agreement between the County of Allegheny, Commonwealth of Pennsylvania and the Redevelopment Authority of Allegheny County and Related Action
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WHEREAS, the development of the economy, the creation of new job opportunities and the retention of existing job opportunities and providing decent, safe and sanitary housing have been and continue to be items of significant priority of the County of Allegheny (the “County”); and
WHEREAS, it is in the best interest of the citizens of the County for the County to continue to assist in the promotion and development of manufacturing facilities, industrial facilities, commercial facilities, specialized facilities, housing, and other projects which will enhance the economy of the County and promote the welfare of the citizens of the County; and
WHEREAS, in order to achieve the foregoing purposes, the County has heretofore directed the Redevelopment Authority of Allegheny County (the “Redevelopment Authority”) to create the “Allegheny County Economic Development Fund” (the “Development Fund”); and
WHEREAS, in order to provide funding for the Development Fund, the Redevelopment Authority, at the request of the County, has heretofore issued its Special Tax Development Bonds, Taxable Series of 1995 (the “1995 Bonds”) and Taxable Series of 1999 (the “1999 Bonds”) each in the aggregate principal amount of $25,000,000 pursuant to a trust indenture dated as of September 1, 1995, as heretofore supplemented and amended and as further supplemented and amended by the Third Supplemental Indenture, as described below (the “Trust Indenture”), between the Redevelopment Authority and J.P. Morgan Trust Company, National Association, as successor trustee to Mellon Bank, N.A., as trustee (the “Trustee”); and
WHEREAS, the 1995 Bonds, the 1999 Bonds and any additional bonds issued under the Trust Indenture (collectively, the “Bonds”...
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