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A Resolution approving a Project for the benefit of UPMC, doing business as the University of Pittsburgh Medical Center (“UPMC”), to be financed by the Allegheny County Hospital Development Authority by the issuance of the Authority's tax-exempt refunding bonds, to be issued in one or more series, in a principal amount not to exceed $1,175,000,000, provided that the taxing power of the County of Allegheny, Pennsylvania, 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, UPMC, a nonprofit corporation organized under the laws of the Commonwealth of Pennsylvania, desires to undertake a project consisting of financing, through the issuance of one or more series of tax-exempt refunding bonds in a principal amount not expected to exceed $1,175,000,000 (the "Bonds") by the Allegheny County Hospital Development Authority (the "Authority"); and
Whereas, the Project (“Project”) shall consist of all or any portions (as determined by UPMC) of the following:
(a) refund all or a portion of the following bonds: Allegheny County Hospital Development Authority Adjustable Convertible Extendable Securities - ACES Hospital Revenue Bonds, 1988 Series B-1, B-2 and B-3 (Presbyterian-University Hospital); Allegheny County Hospital Development Authority Health Center Revenue Bonds, Series 1990 A, B, C, and D; Allegheny County Hospital Development Authority Hospital Revenue Bonds, Series 1993 (Magee-Womens Hospital); Allegheny County Hospital Development Authority Health Center Revenue Refunding Bonds, Series 1998B, (UPMC Health System); Allegheny County Hospital Development Authority UPMC Health System Revenue Refunding Bonds, Series 1999B; Allegheny County Hospital Development Authority University of Pittsburgh Medical Center Revenue Bonds, Series 2005B; Allegheny County Hospital D...
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