City of Philadelphia - File #: 110375

• File #: 110375
• Version: 0
• Type: Bill
• Status: ENACTED
• File created: 5/12/2011
• In control: Committee on Finance
• Title: Constituting the Fifteenth Supplemental Ordinance to the Restated General Water and Wastewater Revenue Bond Ordinance of 1989, as supplemented; authorizing the Bond Committee to issue and sell either at public or private sale Water and Wastewater Revenue Bonds; providing that such Bonds shall bear interest at prescribed fixed or variable rates; authorizing agreements to provide credit enhancement or payment or liquidity sources or swap payments (or any combination of the foregoing) for such Bonds; authorizing the Director of Finance to take certain actions with regard to the sale of such Bonds, the investment of proceeds thereof and the City's continuing disclosure obligation; setting forth the use of proceeds; covenanting the payment of interest and principal and supplementing the Restated General Water and Wastewater Revenue Bond Ordinance of 1989.
• Sponsors: Councilmember Tasco
• Indexes: RESTATED GENERAL WATER AND WASTEWATER REVENUE BOND ORDINANCE

Date	Ver.	Action By	Action	Result	Tally
7/5/2011	0	MAYOR	SIGNED
6/16/2011	0	CITY COUNCIL	READ AND PASSED	Pass	17:0
6/9/2011	0	CITY COUNCIL	ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR
6/9/2011	0	CITY COUNCIL	SUSPEND THE RULES OF THE COUNCIL	Pass
6/9/2011	0	CITY COUNCIL	ORDERED PLACED ON NEXT WEEK`S SECOND READING CALENDAR
6/6/2011	0	Committee on Finance	HEARING NOTICES SENT
6/6/2011	0	Committee on Finance	HEARING HELD
6/6/2011	0	Committee on Finance	REPORTED FAVORABLY, RULE SUSPENSION REQUESTED
5/12/2011	0	CITY COUNCIL	Introduced and Referred	Pass

Title
Constituting the Fifteenth Supplemental Ordinance to the Restated General Water and Wastewater Revenue Bond Ordinance of 1989, as supplemented; authorizing the Bond Committee to issue and sell either at public or private sale Water and Wastewater Revenue Bonds; providing that such Bonds shall bear interest at prescribed fixed or variable rates; authorizing agreements to provide credit enhancement or payment or liquidity sources or swap payments (or any combination of the foregoing) for such Bonds; authorizing the Director of Finance to take certain actions with regard to the sale of such Bonds, the investment of proceeds thereof and the City's continuing disclosure obligation; setting forth the use of proceeds; covenanting the payment of interest and principal and supplementing the Restated General Water and Wastewater Revenue Bond Ordinance of 1989.

Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

SECTION 1. Authorization, Scope and Purpose. This Supplemental Ordinance is enacted pursuant to the provisions of The First Class City Revenue Bond Act, approved October 18, 1972 (Act No. 234, 53 P.S. §§15901 to 15924), as amended (the "Act"), and constitutes a Supplemental Ordinance enacted for the purpose of authorizing one or more Series of Bonds within the meaning of the City's Restated General Water and Wastewater Revenue Bond Ordinance of 1989 (Bill No. 544) approved June 24, 1993, as amended and supplemented (the "General Ordinance").

The Bond Committee, or a majority of them, is hereby authorized on behalf of the City to borrow, by the issuance and sale of one or more series or subseries of Water and Wastewater Revenue Bonds of the City (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 4 of this Supplemental Ordinance. In accordance with the General Ordinance, the Bond Committee shall approve final terms o...