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Resoultion approving the financing by Allegheny County Higher Education Building Authority (the "Authority") of a project for Chatham College (the "College") and declaring that it is desirable for the health, safety and welfare of the people in the area to be served by the facilities of the College, to have such facilities which are part of the project financed through the Authority.
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Whereas, the Allegheny County Higher Education Building Authority (the "Authority") is a body corporate and politic organized under the provisions of the Municipality Authorities Act, Title 53 of the Pennsylvania Consolidated Statutes Annotated, Section 5601, et seq., as amended and supplemented (the "Act") by the Board of County Commissioners of the County of Allegheny, Pennsylvania (the "County") with all the general powers granted by the Act for the health, safety and welfare of the people of the area; and
Whereas, the Act vests the Authority, inter alia, with the power of acquiring, holding, constructing, improving, maintaining and operating, owning, leasing, either in the capacity of lessor or lessee, buildings and facilities for any private, nonprofit, nonsectarian colleges and universities, state-related universities and community colleges, which it determines to be an "eligible, educational institution" under the Act provided that the buildings and facilities are approved by the governing body at the County and that the approval does not obligate the taxing power of the governing body in any way; and
Whereas, the Authority has determined Chatham College (the "College") to be an "eligible, educational institution" under the Act; and
Whereas, the College by application has applied to the Authority for financing assistance in connection with the project (including reimbursement to the College of expenditures previously made) consisting of (i) constructing and equipping a new athletic facility to be located on the College's main campus, (ii) financi...
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