A Resolution of the County of Allegheny adopting and authorizing financing of a project by the Authority for Improvements in Municipalities on behalf of Blind & Vision Rehabilitation Services of Pittsburgh (the “Borrower”) as desirable for the health, safety, and welfare of the people in Allegheny County.
Whereas, Blind & Vision Rehabilitation Services of Pittsburgh, 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 notes in an aggregate principal amount not to exceed $7,000,000 (the "Notes") by the Authority for Improvements in Municipalities (the "Authority"), all or a portion of the costs of: (a) acquiring and renovating a building located at 1819 Boulevard of the Allies, City of Pittsburgh, Allegheny County, Pennsylvania; and (b) paying of all or a portion of the financing costs (collectively, the "Project"); and
Whereas, the Authority was created by the County of Allegheny, Pennsylvania (the "County") under the Municipality Authorities Act, as amended (the "Act") and is authorized under the Act to issue its notes and bonds for the purposes aforesaid; and the Authority has determined that the public interest will be served and that the purposes of the Act can be furthered by the Authority's issuance of notes in order to obtain funds to loan to the Borrower for the foregoing purposes; and
Whereas, Section 5607(b)(2)(iv) of the Act provides, among other things, that health centers and projects to be financed with loans to health centers serving the public, such as the Borrower, may be financed by an authority created under the Act, if the municipality organizing such authority declares by resolution or ordinance that it is desirable for the health, safety, and welfare of the people in the area served by such projects and facilities to have such projects and facilities provided by, or financed through, such Authority.
The...
Click here for full text