TITLE
Resolution approving a Project for the benefit of West Penn Allegheny Foundation, LLC, to be financed by the Allegheny County Hospital Development Authority by the issuance of one or more series of the Authority's Hospital Revenue Notes (West Penn Allegheny Foundation Project), Series 2006 (or similar designation) (the "2006 Notes") to be issued in aggregate principal amount not in excess of $31,000,000, provided that the taxing power of the County of Allegheny, Pennsylvania, shall not be obligated in any way with respect to the 2006 Notes, and determining that the purpose of the financing will be to benefit the health and welfare of the citizens of Allegheny County, Pennsylvania, and constituting the elected official approval required by Section 147 of the Internal Revenue Code of 1986, as amended.
BODY
Whereas, West Penn Allegheny Foundation, LLC ("WPAF") has requested that the Allegheny County Hospital Development Authority ("Authority") finance the "Project" hereafter described by the issuance of the Authority's 2006 Notes in an aggregate principal amount not in excess of $31,000,000; and
Whereas, the Project (defined below) shall consist of all or any portions (as determined by the WPAF) of the following:
(a) capital projects including the acquisition of (i) four (4) medical evacuation helicopters for expected use at Allegheny General Hospital, Indiana Hospital, and at medical facilities in Westmoreland County (the "Helicopter Project") and (ii) certain capital equipment, including hospital beds for use at Allegheny General Hospital (the "Beds Project" and, together with the Helicopter Project, the "Project"); and
(b) payment of issuance, credit and liquidity support, if any, and other costs related to the issuance of the 2006 Notes described above; and
Whereas, the location of the facilities included in the Project is Allegheny General Hospital, Indiana Hospital, Rostraver Airport and Greensburg-Jeannette Regional Airport, Wes...
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