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An Ordinance of the County Council, County of Allegheny, Pennsylvania (“County”), authorizing the incurrence of lease rental debt in an aggregate amount not to exceed Four Million Four Hundred and Fifty Thousand Dollars ($4,450,000) and execution of a Supporting Agreement with and among the Sports & Exhibition Authority of Pittsburgh and Allegheny County ("Authority"), as successor to the Public Auditorium Authority of Pittsburgh and Allegheny County, and the City of Pittsburgh ("City").
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An Ordinance of the County of Allegheny, Pennsylvania (the “County”) (1) authorizing the incurrence of lease rental debt in an aggregate principal amount not to exceed Four Million Four Hundred and Fifty Thousand Dollars ($4,450,000) by entering into a Supporting Agreement (the “2005 Supporting Agreement”) with the Sports & Exhibition Authority of Pittsburgh and Allegheny County (the “Authority”) and the City of Pittsburgh (“City”); (2) determining that such lease rental debt shall be evidenced by the 2005 Supporting Agreement by which the County agrees to pay one-half of the debt service on the Sports & Exhibition Authority of Pittsburgh and Allegheny County Auditorium Bonds, Refunding Series A of 2005 to be issued by the Authority in an aggregate principal amount of up to Eight Million, Nine Hundred Thousand Dollars ($8,900,000); (3) authorizing and directing the proper officers of the County (a) to prepare, to certify and to file the debt statement and borrowing base certificate required by Section 8110 of the Pennsylvania Local Government Unit Debt Act, the Act of December 19, 1996, P.L. 1158, No. 177 as amended (the “Debt Act”); and (b) to execute, to attest and to deliver, as appropriate, the 2005 Supporting Agreement among the City, the County and said Authority; (4) approving the form of said 2005 Supporting Agreement; (5) specifying the maximum amounts of the supporting obligation of the County pursuant to said 2005 Supporting Agreement and the sou...
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