City of Philadelphia - File #: 230250

• File #: 230250
• Version: 0
• Type: Bill
• Status: ENACTED
• File created: 3/30/2023
• In control: Committee on Finance
• Final action: 6/8/2023
• Title: Amending Ordinance (Bill No. 190935) of the Council of The City of Philadelphia, approved by the Mayor on December 18, 2019, to authorize the refunding of additional series of outstanding general obligation bonds; authorizing the purchase by The City of Philadelphia, from time to time, of any of its outstanding general obligation debt; authorizing the amendment, novation or termination, from time to time, of any agreement to manage interest costs incurred in connection with The City of Philadelphia's general obligation debt; further amending said Ordinance (Bill No. 190935) to authorize the payment by The City of Philadelphia from proceeds of general obligation refunding bonds of any required settlement payments and related required amounts in connection with the termination of any such agreements to manage interest costs and additionally authorizing the payment of such settlement payments and related amounts from other legally available funds; and authorizing certain other actions.
• Sponsors: Council President Clarke, Councilmember Squilla
• Indexes: BONDS

Date	Ver.	Action By	Action	Result	Tally
6/21/2023	0	MAYOR	SIGNED
6/8/2023	0	CITY COUNCIL
5/4/2023	0	CITY COUNCIL
5/4/2023	0	CITY COUNCIL
5/4/2023	0	CITY COUNCIL
5/1/2023	0	Committee on Finance	HEARING NOTICES SENT
5/1/2023	0	Committee on Finance	HEARING HELD
5/1/2023	0	Committee on Finance	REPORTED FAVORABLY, RULE SUSPENSION REQUESTED
3/30/2023	0	CITY COUNCIL

Title
Amending Ordinance (Bill No. 190935) of the Council of The City of Philadelphia, approved by the Mayor on December 18, 2019, to authorize the refunding of additional series of outstanding general obligation bonds; authorizing the purchase by The City of Philadelphia, from time to time, of any of its outstanding general obligation debt; authorizing the amendment, novation or termination, from time to time, of any agreement to manage interest costs incurred in connection with The City of Philadelphia's general obligation debt; further amending said Ordinance (Bill No. 190935) to authorize the payment by The City of Philadelphia from proceeds of general obligation refunding bonds of any required settlement payments and related required amounts in connection with the termination of any such agreements to manage interest costs and additionally authorizing the payment of such settlement payments and related amounts from other legally available funds; and authorizing certain other actions.

Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

SECTION 1. Ordinance (Bill No. 190935) of the Council of The City of Philadelphia (the "City"), approved by the Mayor on December 18, 2019 (the "2019 Refunding Ordinance") is hereby amended to provide that the proceeds of the general obligation refunding bonds of the City, issued from time to time pursuant to the 2019 Refunding Ordinance, may also be used to provide funds for and towards the refunding of all or a portion of any of the City's general obligation bonds shown on Exhibit A hereto (collectively, the "Additional Prior Bonds"). This amendment is intended to expand, and not limit, the original authorization of general obligation bond refunding candidates set forth in Exhibit A to the 2019 Refunding Ordinance.

SECTION 2. Pursuant to 53 P.S. Section 12589, or other applicable law, the City is hereby authorized to purchase: (i) any of its outstanding general obligation debt authorized to be refun...