title
A Resolution of the County of Allegheny recognizing that it is desirable for the health, safety, and welfare of the people in the area served by Ohio Valley General Hospital and authorizing the Allegheny County Hospital Development Authority to issue its bonds on behalf of Ohio Valley General Hospital for a project consisting of financing all or a portion of the costs of: (a) constructing, acquiring, and equipping certain renovations and additions to the hospital facilities, including a new obstetrics unit, new operating rooms and miscellaneous other capital expenditures relating to the healthcare facilities of the Hospital devoted to its exempt activities, including the reimbursement of prior capital expenditures; (b) funding a debt service reserve fund for the bonds; (c) funding capitalized interest on the bonds through project completion; and (d) paying the costs of issuance of the bonds.
body
Whereas, the Allegheny County Hospital Development Authority (the "Issuer") is a body corporate and politic duly organized, existing and in good standing under the laws of the Commonwealth of Pennsylvania (the "Commonwealth"), pursuant to the provisions of the Municipality Authorities Act, 53 Pa. C.S.A. ยง5601 et seq., as amended (the "Act"), the purpose and intent of which is to benefit the people of the Commonwealth by, among other things, increasing their commerce, health, safety and prosperity; and
Whereas, the Issuer is authorized by law to acquire, hold, construct, finance, improve, maintain, operate, own and lease as lessee or lessor, hospitals and health centers, to borrow money, to make and issue negotiable bonds and to secure the payment of such bonds or any part thereof by pledge or deed of trust of all or any of its revenues and receipts, and to make such agreements with the purchasers or holders of such bonds, or with others in connection with any such bonds, whether issued or to be issued, as the Issuer shall deem advisable; and
Whereas, ...
Click here for full text