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A Resolution approving a Project for the benefit of Robert Morris University, a nonprofit corporation organized under the laws of the Commonwealth of Pennsylvania (the "University") to be financed by the Allegheny County Higher Education Building Authority by the issuance of the Authority’s tax-exempt bonds, to be issued in one or more series, in the aggregate principal amount not expected to exceed $31,000,000, provided that the taxing power of the County of Allegheny, Pennsylvania (the "County"), 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.
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Whereas, the Allegheny County Higher Education Building Authority (the "Authority") was created by the County under the Municipality Authorities Act, approved June 19, 2001, P.L. 287, No. 22, as amended (the "Act"), of the Commonwealth of Pennsylvania; and
Whereas, the Authority has been requested by the University to issue one or more series of its tax-exempt revenue bonds and taxable revenue bonds to be designated "Allegheny County Higher Education Building Authority University Revenue Bonds, Series of 2016 (Robert Morris University)" or such other designations as the Authority deems appropriate (the "Bonds") in an aggregate principal amount not expected to exceed $31,000,000 to provide long-term financing of: (a) the advance refunding of all or a portion of the Authority's University Revenue Bonds, Series A of 2008 (Robert Morris University); (b) all or a portion of the costs of acquiring, renovating, equipping, and furnishing the real property located at 6001 University Boulevard; Moon Township, Pennsylvania 15108 for use primarily as a student housing facility for the University; (c) miscellaneous capital expenditures now being incurred and expected to be incurred at the University's main campus and/or at the University's downto...
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