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A Resolution approving a Project for the benefit of Duquesne University of the Holy Spirit, 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 federally taxable and/or tax-exempt bonds or notes, to be issued in one or more series, in the aggregate principal amount which, together with original issue premium and less original issue discount, is not expected to exceed $20,000,000, 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/or taxable revenue bonds to be designated "Allegheny County Higher Education Building Authority University Revenue Bonds, Series of 2018 (Duquesne University)" or such other designations as the Authority deems appropriate (the "Bonds") in an aggregate principal amount which, together with original issue premium and less original issue discount, is not expected to exceed $20,000,000 to provide long-term financing of: (a) upgrades and replacements to various mechanical systems, including HVAC, elevators, electrical switchgear, pneumatic controls, fan coil units, fire protection, and sprinkler systems in the Koren Building, Fisher Hall, School of Law, College Hall, Richard King Mellon Hall of Science, Rockwell Hall, Libermann Hall, Gum...
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