header-left
File #: 240411    Version: 0 Name:
Type: COMMUNICATION Status: PLACED ON FILE
File created: 5/2/2024 In control: CITY COUNCIL
On agenda: Final action:
Title: April 29, 2024 TO THE PRESIDENT AND MEMBERS OF THE COUNCIL OF THE CITY OF PHILADELPHIA: I am submitting herewith for the consideration of your Honorable Body the following proposed Ordinance: AN ORDINANCE Constituting the Sixteenth Supplemental Ordinance to the General Gas Works Revenue Bond Ordinance of 1998 (the "1998 General Ordinance"); authorizing the City of Philadelphia, Pennsylvania (the "City") to sell, either at public or private sale, one or more series of Gas Works Revenue Bonds and Gas Works Revenue Bonds to refund such Bonds (the "Bonds"); to pay the costs of certain capital projects and other Project Costs and the costs of redeeming the City's Gas Works Revenue Capital Project Commercial Paper Notes; authorizing the City to amend, novate or terminate all or any portion of any Qualified Swap Agreement; authorizing the City to obtain credit enhancement for any Series of the Bonds; making certain determinations and covenants relating to Gas Works Revenues and the paymen...

 

Title

April 29, 2024

 

TO THE PRESIDENT AND MEMBERS OF THE COUNCIL OF THE CITY OF PHILADELPHIA:

 

I am submitting herewith for the consideration of your Honorable Body the following proposed Ordinance:

 

AN ORDINANCE

 

Constituting the Sixteenth Supplemental Ordinance to the General Gas Works Revenue Bond Ordinance of 1998 (the “1998 General Ordinance”); authorizing the City of Philadelphia, Pennsylvania (the “City”) to sell, either at public or private sale, one or more series of Gas Works Revenue Bonds and Gas Works Revenue Bonds to refund such Bonds (the “Bonds”); to pay the costs of certain capital projects and other Project Costs and the costs of redeeming the City’s Gas Works Revenue Capital Project Commercial Paper Notes; authorizing the City to amend, novate or terminate all or any portion of any Qualified Swap Agreement; authorizing the City to obtain credit enhancement for any Series of the Bonds; making certain determinations and covenants relating to Gas Works Revenues and the payment of interest and principal; and authorizing covenants and actions in order that the Bonds shall not be arbitrage bonds; all under certain terms and conditions.

 

I hereby recommend your favorable consideration of this proposed Ordinance.

 

Respectfully,

 

Cherelle L. Parker

Mayor

End