TITLE
An Ordinance of the County of Allegheny, Pennsylvania, authorizing the incurrence of nonelectoral debt by the issuance of its General Obligation Bonds, Series C-61, in an aggregate principal amount not to exceed $53,435,000 (“C-61 Bonds” or the “Bonds”).
BODY
An Ordinance of the County of Allegheny, Pennsylvania (the “County”) (1) authorizing the incurrence of nonelectoral debt by the issuance of: (a) its C-61 Bonds in an aggregate principal amount not to exceed $53,435,000 for the purposes of (i) providing funds for various capital projects approved in the Allegheny County Capital Budget and (ii) for refunding the County's Adjustable Rate Demand General Obligation Bonds, Series C-58A; (2) finding a private sale by negotiation to be in the best interest of the County; (3) approving maximum interest rates, maximum yields, maximum principal payment amounts and principal payment dates, and maximum annual debt service for the Bonds; (4) authorizing certain officials to accept a proposal for the purchase of the Bonds; (5) appointing a paying agent, registrar, sinking fund depository and escrow agent or agents; (6) adopting the forms of the Bonds; (7) covenanting to pay debt service; (8) pledging the full faith, credit and taxing power for the payment of the Bonds; (9) establishing sinking funds and one or more escrow funds; (10) appropriating the proceeds of the Bonds; (11) ratifying prior advertisement and directing further advertisement; (12) appointing various professionals; (13) authorizing the preparation, certification and filing of an application and debt statement with the Department of Community and Economic Development; (14) authorizing approval of the preliminary official statement; (15) authorizing approval of the final official statement; (16) authorizing execution of one or more escrow agreements for the benefit of the refunded bonds and authorizing the redemption of such refunded bonds; (17) authorizing certain officials to determine whether t...
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