City of Philadelphia - File #: 040599

• File #: 040599
• Version: 1
• Type: Bill
• Status: ENACTED
• File created: 5/27/2004
• In control: Committee on Finance
• Final action: 6/21/2004
• Title: Constituting the Sixth Supplemental Ordinance to the General Gas Works Revenue Bond Ordinance of 1998 (the "1998 General Ordinance"); authorizing the Mayor, the City Controller and the City Solicitor, or a majority of them, to sell, either at public or private sale, Gas Works Revenue Bonds, Fifth Series (1998 Ordinance), of the City of Philadelphia, in one or more subseries (the "Fifth Series Bonds") to be issued to pay the cost of certain capital projects, the cost of refunding or redeeming all or a portion of certain outstanding Gas Works Revenue Bonds and other Project Costs, as hereinafter more particularly described; and authorizing the application of proceeds of the Fifth Series Bonds for such purpose; authorizing the City to obtain credit enhancement for the Fifth Series Bonds; authorizing the City of Philadelphia to enter into Qualified Swap Agreements or Exchange Agreements with respect to the Fifth Series Bonds; determining the sufficiency of Gas Works Revenues; covenanting t...
• Sponsors: Councilmember Blackwell
• Indexes: PHILADELPHIA GAS WORKS

Date	Ver.	Action By	Action	Result	Tally
7/1/2004	1	MAYOR	SIGNED
6/21/2004	1	CITY COUNCIL	READ
6/21/2004	1	CITY COUNCIL	PASSED	Pass	17:0
6/10/2004	0	Committee on Finance	AMENDED
6/10/2004	1	Committee on Finance	REPORTED FAVORABLY, RULE SUSPENSION REQUESTED
6/10/2004	1	CITY COUNCIL	ORDERED PLACED ON THIS DAY`S FINAL PASSAGE CALENDAR
6/10/2004	1	CITY COUNCIL	SUSPEND THE RULES OF THE COUNCIL	Pass
6/10/2004	1	CITY COUNCIL	ORDERED PLACED ON NEXT WEEK`S SECOND READING CALENDAR
6/9/2004	0	Committee on Finance	HEARING NOTICES SENT
6/9/2004	0	Committee on Finance	HEARING HELD
6/9/2004	0	Committee on Finance	RECESSED
5/27/2004	0	CITY COUNCIL	Referred
5/27/2004	0	CITY COUNCIL	Introduced	Pass

Title
Constituting the Sixth Supplemental Ordinance to the General Gas Works Revenue Bond Ordinance of 1998 (the "1998 General Ordinance"); authorizing the Mayor, the City Controller and the City Solicitor, or a majority of them, to sell, either at public or private sale, Gas Works Revenue Bonds, Fifth Series (1998 Ordinance), of the City of Philadelphia, in one or more subseries (the "Fifth Series Bonds") to be issued to pay the cost of certain capital projects, the cost of refunding or redeeming all or a portion of certain outstanding Gas Works Revenue Bonds and other Project Costs, as hereinafter more particularly described; and authorizing the application of proceeds of the Fifth Series Bonds for such purpose; authorizing the City to obtain credit enhancement for the Fifth Series Bonds; authorizing the City of Philadelphia to enter into Qualified Swap Agreements or Exchange Agreements with respect to the Fifth Series Bonds; determining the sufficiency of Gas Works Revenues; covenanting the separation of Gas Works revenue accounts and proceeds of the Fifth Series Bonds from general accounts of the City; covenanting the payment of interest and principal on and specifying the purposes of the Fifth Series Bonds; authorizing covenants and action in order that the Fifth Series Bonds shall not be arbitrage bonds; authorizing the Fifth Series Bonds to be issued in book-entry form and providing book-entry provisions to apply in such case; and providing that this Ordinance is supplemental to the 1998 General Ordinance and that the provisions of the 1998 General Ordinance, to the extent not modified, amended or superseded by this Ordinance, are applicable.
Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

SECTION 1. The Mayor, the City Controller and the City Solicitor (the "Bond Committee"), or a majority of them, are hereby authorized, on behalf of the City, to borrow, by the issuance and sale of Gas Works Revenue Bonds, Fifth Series, of the City (t...