TITLE
A Resolution approving a Project for the benefit of West Penn Allegheny Health System, Inc. and certain members of an obligated group, including Allegheny General Hospital, Allegheny Medical Practice Network, Allegheny Specialty Practice Network, Allegheny-Singer Research Institute, Canonsburg General Hospital, Alle-Kiski Medical Center, The Western Pennsylvania Hospital, The Western Pennsylvania Hospital Foundation, and West Penn Corporate Medical Services, Inc. (collectively, the "Obligated Group"), to be financed by the Allegheny County Hospital Development Authority by the issuance of one or more series, from time to time, of the Authority's Health Facilities Revenue Bonds (West Penn Allegheny Health System), Series 2007 (or similar designation) (collectively, the "West Penn Bonds") to be issued in the approximate amounts described below, provided that the taxing power of the County of Allegheny, Pennsylvania, shall not be obligated in any way with respect to the West Penn Bonds and determining that the purpose of the financing will be to benefit the health and welfare of the citizens of Allegheny County, Pennsylvania.
BODY
Whereas, West Penn Allegheny Health System, Inc. ("WPAHS) will request that the Allegheny County Hospital Development Authority ("Authority") finance the "West Penn Project" hereafter described by the issuance of the Authority's West Penn Bonds in the approximate amounts described below; provided, however, the Authority initially will be asked to issue only the 2007 Bonds for the 2007 Project, both as hereinafter described; and
Whereas, the Project (defined below) shall consist of all or any portions (as determined by the WPAHS) of the following capital and refunding projects including:
(a) approximately $643 million expected to be used to (i) refund the outstanding Authority Health System Revenue Bonds (West Penn Allegheny Health System), Series 2000 and certain other series of bonds and loans (the "2007 Refunding Bond...
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