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A Resolution approving a Project for the benefit of Rebecca Residence (the "Borrower") and its affiliates: Concordia of Monroeville, Concordia Lutheran Health and Human Care, Concordia Lutheran Ministries Foundation, Concordia of Ohio, and Concordia Lutheran Ministries of Pittsburgh to be financed by the Allegheny County Hospital Development Authority by the issuance of the Authority’s tax-exempt bonds, to be issued in one or more series, in the aggregate principal amount not expected to exceed $45,000,000, provided that the taxing power of the County of Allegheny, Pennsylvania (the "County"), 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, the Allegheny County Hospital Development Authority (the "Authority") was created by the County under the Municipality Authorities Act, approved June 19, 2001, P.L. 287, No. 22, as amended (the "Act"), of the Commonwealth of Pennsylvania; and
Whereas, the Authority has been requested by the Borrower and its affiliates: Concordia of Monroeville, Concordia Lutheran Health and Human Care, Concordia Lutheran Ministries Foundation, Concordia of Ohio, and Concordia Lutheran Ministries of Pittsburgh (collectively with the Borrower, the "Obligated Group"), to issue one or more series of its tax-exempt revenue bonds and taxable revenue bonds to be designated "Allegheny County Hospital Development Authority Variable Rate Demand Revenue Bonds, Series of 2016 (the "Bonds") (Concordia Lutheran Obligated Group)" or such other designations as the Authority deems appropriate in an aggregate principal amount not to exceed $45,000,000 to provide long-term financing of: (a) the construction, equipping, and furnishing of an independent living retirement community to be owned and operated by the Borrower which will be part of an integrated facility c...
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