Title
Approving the Fiscal Year 2000 Capital Budget providing for expenditures for the capital purposes of the Philadelphia Gas Works, including the supplying of funds to be obtained in connection therewith, and rejecting the Forecast for Fiscal Years 2001 through 2005.
Body
WHEREAS, Section IV(2)(b) of the Agreement Between The City Of Philadelphia And The Philadelphia Facilities Management Corporation For The Management And Operation Of The Philadelphia Gas Works dated December 29, 1972 (as amended) (hereinafter, the "Management Agreement") requires the Philadelphia Facilities Management Corporation ("PFMC") to prepare annually for the Philadelphia Gas Works ("PGW") a proposed capital budget for the ensuing year and a forecast for the six (6) years comprising the ensuing budget year and the five (5) years next following; and
WHEREAS, Section IV(2)(b) of the Management Agreement states that PGW's annual capital budget and forecast are to be in general satisfactory to the Gas Commission and Director of Finance in form and extent; and
WHEREAS, Section IV(2)(b) of the Management Agreement further states that the Gas Commission and the Finance Director shall transmit PGW's capital budget and forecast with recommendations thereon to the City Council for its approval; and
WHEREAS, on May 28, 1999, PGW filed with the Gas Commission a proposed Fiscal Year 2000 Capital Budget and a Five-Year Forecast for Fiscal Year 2001 through Fiscal Year 2005; and
WHEREAS, on August 11, 12, and 13, 1999, the Gas Commission conducted public hearings on PGW's Fiscal Year 2000 Capital Budget and Forecast for Fiscal Years 2001 through 2005; and
WHEREAS, by letter dated September 8, 1999, the Office of the Director of Finance advised the Gas Commission that the proposed Fiscal Year 2000 Capital Budget was in a form with sufficient detail to meet its requirements to recommend approval by City Council; and
WHEREAS, on October 6, 1999, the Hearing Examiner filed a Memora...
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