Title
Declaring that it is desirable for the health, safety and welfare of the people in the area served by Thomas Jefferson University Hospitals, Inc. (the "Hospital") and its affiliates for The Hospitals and Higher Education Facilities Authority of Philadelphia to participate with the Hospital in the refinancing or restructuring of certain outstanding indebtedness of the Hospital and its affiliates and the acquisition and construction of capital improvements to the facilities of the Hospital and its affiliates.
Body
WHEREAS, The Hospitals and Higher Education Facilities Authority of Philadelphia (the "Authority") a body politic and corporate, was incorporated on February 19, 1974, pursuant to an ordinance duly approved on January 28, 1974, under the Municipality Authorities Act of 1945, being the Act of May 2, 1945, P.L. 382, now codified as 53 PA. C.S. Ch. 56, as amended (the "Act"); and
WHEREAS, The Act specifies, inter alia, that the purpose of an authority shall be for " . . . acquiring, holding, constructing, financing, improving, maintaining and operating, owning or leasing, either in the capacity of lessor or lessee, projects of the following kind and character: . . . hospitals and health centers . . . "; and
WHEREAS, Thomas Jefferson University Hospitals, Inc. (the "Hospital) has requested that the Authority issue its Revenue Bonds (the "Bonds") in an aggregate principal amount not to exceed Seven Million Five Hundred Thousand Dollars ($7,500,000), net of original issue discount, if any, for the purpose of providing financing for the constructing and equipping of improvements to the existing facilities of the Hospital and its affiliates as more fully described in Exhibit A to this Ordinance and refinancing certain existing indebtedness of the Hospital, Methodist Hospital Nursing Center and their affiliates; and
WHEREAS, The Act provides that none of the powers granted thereby shall be exercised in the construction, financing, impr...
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