City of Philadelphia - File #: 150510

• File #: 150510
• Version: 1
• Type: Bill
• Status: ENACTED
• File created: 5/21/2015
• In control: Committee on Finance
• Final action: 6/18/2015
• Title: Constituting the Fourteenth 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 tax-exempt or taxable Airport Revenue Refunding Bonds of the City of Philadelphia; designating the obligations to be refunded from certain proceeds of such Airport Revenue Refunding Bonds; setting forth the use of proceeds; amending and restating prior related Ordinances with respect to the pledge of Passenger Facility Charges; 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 Refunding Bonds and related agreements and the elections under the Amended and Restated General Airport Revenue Bond Ordinance; authorizing the Director of Finance to take c...
• Sponsors: Councilmember Tasco
• Indexes: AIRPORT, BONDS

Date	Ver.	Action By	Action	Result	Tally
6/18/2015	1	CITY COUNCIL	READ AND PASSED	Pass	15:0
6/18/2015	1	MAYOR	SIGNED
6/11/2015	1	CITY COUNCIL	SUSPEND THE RULES OF THE COUNCIL	Pass
6/11/2015	1	CITY COUNCIL	ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR
6/11/2015	1	CITY COUNCIL	READ AND ORDERED PLACED ON NEXT WEEK'S SECOND READING CALENDAR
6/8/2015	0	Committee on Finance	HEARING NOTICES SENT
6/8/2015	0	Committee on Finance	HEARING HELD
6/8/2015	0	Committee on Finance	AMENDED
6/8/2015	1	Committee on Finance	REPORTED FAVORABLY, RULE SUSPENSION REQUESTED
5/21/2015	0	CITY COUNCIL	Introduced and Referred	Pass

Title
Constituting the Fourteenth 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 tax-exempt or taxable Airport Revenue Refunding Bonds of the City of Philadelphia; designating the obligations to be refunded from certain proceeds of such Airport Revenue Refunding Bonds; setting forth the use of proceeds; amending and restating prior related Ordinances with respect to the pledge of Passenger Facility Charges; 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 Refunding 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 Refunding 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 Refunding 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, 1...