City of Philadelphia - File #: 070435

• File #: 070435
• Version: 0
• Type: Bill
• Status: ENACTED
• File created: 5/24/2007
• In control: Committee on Finance
• Final action: 6/14/2007
• Title: Constituting the Eighth Supplemental Ordinance to the Amended and Restated General Airport Revenue Bond Ordinance; authorizing the Mayor, the City Controller and the City Solicitor, or a majority of them, to issue and sell one or more series of Airport Revenue Bonds of the City of Philadelphia; designating the obligations to be refunded from certain proceeds of such Airport Revenue Bonds; setting forth the use of proceeds; determining the sufficiency of pledged Amounts Available for Debt Service; covenanting for the payment of interest and principal; authorizing the Bond Committee to take certain action with regard to the terms and conditions of the Airport Revenue Bonds and related agreements and the elections under the Amended and Restated General Airport Revenue Bond Ordinance; authorizing the Director of Finance to take certain actions with regard to the sale of such Airport Revenue Bonds, the investment of the proceeds thereof and the City's continuing disclosure obligation; and s...
• Sponsors: Council President Verna, Council President Verna, Councilmember Blackwell
• Indexes: AIRPORT, BONDS

Date	Ver.	Action By	Action	Result	Tally
7/3/2007	0	MAYOR	SIGNED
7/3/2007	0	MAYOR	SIGNED
6/14/2007	0	CITY COUNCIL	READ
6/14/2007	0	CITY COUNCIL	READ
6/14/2007	0	CITY COUNCIL	PASSED	Pass	17:0
6/14/2007	0	CITY COUNCIL	PASSED	Pass	17:0
6/7/2007	0	CITY COUNCIL	ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR
6/7/2007	0	CITY COUNCIL	ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR
6/7/2007	0	CITY COUNCIL	SUSPEND THE RULES OF THE COUNCIL	Pass
6/7/2007	0	CITY COUNCIL	SUSPEND THE RULES OF THE COUNCIL	Pass
6/7/2007	0	CITY COUNCIL	ORDERED PLACED ON NEXT WEEK`S SECOND READING CALENDAR
6/7/2007	0	CITY COUNCIL	ORDERED PLACED ON NEXT WEEK`S SECOND READING CALENDAR
6/6/2007	0	Committee on Finance	HEARING NOTICES SENT
6/6/2007	0	Committee on Finance	HEARING NOTICES SENT
6/6/2007	0	Committee on Finance	REPORTED FAVORABLY, RULE SUSPENSION REQUESTED
6/6/2007	0	Committee on Finance	REPORTED FAVORABLY, RULE SUSPENSION REQUESTED
6/6/2007	0	Committee on Finance	HEARING HELD
6/6/2007	0	Committee on Finance	HEARING HELD
5/24/2007	0	CITY COUNCIL	Referred
5/24/2007	0	CITY COUNCIL	Referred
5/24/2007	0	CITY COUNCIL	Introduced (By Request) and Referred	Pass
5/24/2007	0	CITY COUNCIL	Introduced (By Request) and Referred	Pass

Title
Constituting the Eighth Supplemental Ordinance to the Amended and Restated General Airport Revenue Bond Ordinance; authorizing the Mayor, the City Controller and the City Solicitor, or a majority of them, to issue and sell one or more series of Airport Revenue Bonds of the City of Philadelphia; designating the obligations to be refunded from certain proceeds of such Airport Revenue Bonds; setting forth the use of proceeds; determining the sufficiency of pledged Amounts Available for Debt Service; covenanting for the payment of interest and principal; authorizing the Bond Committee to take certain action with regard to the terms and conditions of the Airport Revenue Bonds and related agreements and the elections under the Amended and Restated General Airport Revenue Bond Ordinance; authorizing the Director of Finance to take certain actions with regard to the sale of such Airport Revenue Bonds, the investment of the proceeds thereof and the City's continuing disclosure obligation; and specifying applicability of sections of The First Class City Revenue Bond Act and the Amended and Restated General Airport Revenue Bond Ordinance.
Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

SECTION 1. Authorization, Scope and Purpose. The Mayor, the City Controller and the City Solicitor, or a majority of them (the "Bond Committee"), are hereby authorized, on behalf of the City of Philadelphia (the "City"), to borrow, by the issuance and sale of Airport Revenue Bonds (the "Bonds"), a sum or sums which in the aggregate shall not exceed the principal amount of the Bonds authorized to be issued hereunder, to be expended as provided in Section 2 of this Ordinance. The Bonds are to be issued under and pursuant to The First Class City Revenue Bond Act of October 18, 1972, Act No. 234 (the "Act"), and are to be secured by the Amended and Restated General Airport Revenue Bond Ordinance, as supplemented and amended (the "Amended and Restated Ordinance"...