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A Resolution approving a project for the benefit of Duquesne University of the Holy Spirit (referred to variously as the "Borrower" or the “University”) to be financed by the Allegheny County Higher Education Building Authority (the "Authority") by the issuance of the Authority's taxable or tax-exempt revenue bonds, in one or more series, to be designated "Allegheny County Higher Education Building Authority, University Revenue Bonds, Series A of 2020 (Duquesne University)" (or such other designation as may be determined by the Authority and the University), in an aggregate principal amount not to exceed $80,000,000 (the "Bonds"), 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, and declaring the financing of such project as desirable for the health, safety, and welfare of the people in the County.
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Whereas, the Borrower operates a higher educational institution and has requested that the Authority undertake a project consisting of the financing of all or a portion of the costs of: (a) the acquisition of the Life’s Work property located at 1323 Forbes Avenue, Pittsburgh, PA 15219, to be used as the site for the construction of the University's College of Medicine facility, and demolition of the existing buildings and structures on the property; (b) other miscellaneous capital projects at the University’s facilities in Pittsburgh, including capital expenditures relating to the construction of the College of Medicine; (c) the refunding of all or a portion of the outstanding Allegheny County Higher Education Building Authority University Revenue Bonds, Series A of 2011 (Duquesne University), Allegheny County Higher Education Building Authority University Revenue Bonds, Series A of 2013 (Duquesne University), and Allegheny County Higher Education Building Authority University Revenue Refunding Bonds, Series A of 2014 (Duquesne University); and (d) related ...
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