Title
Authorizing the Commissioner of Public Property of the City of Philadelphia, on behalf of the City and in cooperation with the Philadelphia Municipal Authority, to undertake a Project to promote the health, safety and welfare of the residents of the City of Philadelphia; authorizing and approving (i) the Project, (ii) the entering into, execution and delivery of a Lease between the City of Philadelphia and the Philadelphia Municipal Authority, (iii) the issuance by the Philadelphia Municipal Authority of bonds in one or more series, to pay the costs of the Project, (iv) the assignment of the Lease by the Philadelphia Municipal Authority to a trustee, and (v) the obligation of the City of Philadelphia to pay rent under the Lease when due; authorizing the Commissioner of Public Property, on behalf of the City of Philadelphia, to enter into the Lease with the Philadelphia Municipal Authority; authorizing the Director of Finance and other officers of the City of Philadelphia to take such other actions as may be necessary or appropriate to accomplish the intent and purpose of this Ordinance; covenanting that the City of Philadelphia will make necessary appropriations in each of the City's fiscal years to provide for rental payments due under the Lease; and covenanting that the City of Philadelphia will make rental payments due under the Lease; all under certain terms and conditions.
Body
WHEREAS, In order to provide for the health, safety and well being of the citizens of the City of Philadelphia (the "City") it was necessary for the City to undertake a project (the "1984 Project") consisting of the acquisition, construction and equipping of detention and correctional facilities and parking improvements on certain real estate situated at 8301 State Road, Philadelphia, to house and provide services to the prison population of the City (the "Philadelphia Industrial Correctional Center Facility"); and
WHEREAS, The Philadelphia Municipal Authority (the "Aut...
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