Title
Amending Bill No. 090325 entitled "An Ordinance approving the Fiscal Year 2010 Capital Budget providing for expenditures for the capital purposes of the Philadelphia Gas Works (including the supplying of funds in connection therewith) subject to certain constraints and conditions, and acknowledging receipt of the Forecast of Capital Budgets for Fiscal Years 2011 through 2015" by approving a revised Capital Budget for Fiscal Year 2010.
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 ("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 also requires that the proposed capital budget and forecast be submitted to the Director of Finance and the Gas Commission for their review and for submission of said budget and forecast, together with their recommendations thereon, to City Council for its approval; and
WHEREAS, Section IV.2.c. of the Management Agreement requires that all PGW expenditures be made pursuant to approved budgets; and
WHEREAS, a Fiscal Year ("FY") 2010 Capital Budget for PGW in the "not-to-exceed" amount of seventy two million two hundred fifteen thousand dollars ($72,215,000) was adopted by the City on June 3, 2009; and
WHEREAS, on June 10, 2009 PGW filed with the Gas Commission a request to increase the FY 2010 Capital Budget by two million five hundred fifty two thousand dollars ($2,552,000) to complete modernization improvements to the Hazard Detection/ Protection System at the Richmond Liquefied Natural Gas ("LNG") Plant; and
WHEREAS, the Gas Commission's review of...
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