City of Philadelphia - File #: 130767

• File #: 130767
• Version: 1
• Type: Bill
• Status: ENACTED
• File created: 10/24/2013
• In control: Committee on Finance
• Final action: 11/21/2013
• Title: Constituting the Twelfth Supplemental Ordinance to the General Gas Works Revenue Bond Ordinance of 1998 (the "1998 General Ordinance"); authorizing the City of Philadelphia (the "City") to sell, either at public or private sale, Gas Works Revenue Capital Project Commercial Paper Notes (1998 Ordinance) (the "Notes") to pay the costs of certain capital projects and other Project Costs; authorizing the City to obtain credit enhancement and liquidity for the Notes; 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 Notes will not be arbitrage bonds; all under certain terms and conditions.
• Sponsors: Councilmember Tasco
• Indexes: BONDS, GAS WORKS REVENUE BOND

Date	Ver.	Action By	Action	Result	Tally
12/4/2013	1	MAYOR	SIGNED
11/21/2013	1	CITY COUNCIL	READ AND PASSED	Pass	16:0
11/14/2013	1	CITY COUNCIL	ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR
11/14/2013	1	CITY COUNCIL	SUSPEND THE RULES OF THE COUNCIL	Pass
11/14/2013	1	CITY COUNCIL	READ AND ORDERED PLACED ON NEXT WEEK'S SECOND READING CALENDAR
11/7/2013	0	Committee on Finance	HEARING NOTICES SENT
11/7/2013	0	Committee on Finance	HEARING HELD
11/7/2013	0	Committee on Finance	AMENDED
11/7/2013	1	Committee on Finance	REPORTED FAVORABLY, RULE SUSPENSION REQUESTED
10/24/2013	0	CITY COUNCIL	Introduced and Referred	Pass

Title
Constituting the Twelfth Supplemental Ordinance to the General Gas Works Revenue Bond Ordinance of 1998 (the "1998 General Ordinance"); authorizing the City of Philadelphia (the "City") to sell, either at public or private sale, Gas Works Revenue Capital Project Commercial Paper Notes (1998 Ordinance) (the "Notes") to pay the costs of certain capital projects and other Project Costs; authorizing the City to obtain credit enhancement and liquidity for the Notes; 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 Notes will not be arbitrage bonds; all under certain terms and conditions.

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 Capital Project Commercial Paper Notes (1998 General Ordinance), of the City (the "Notes"), which may be issued in one or more series or subseries and which shall be issued in installments, designated "Capital Project Commercial Paper Notes" and consecutively thereafter by letter designation, as the Bond Committee may deem desirable, pursuant to The First Class City Revenue Bond Act of October 18, 1972, Act No. 234 (the "Act"), and the General Gas Works Revenue Bond Ordinance of 1998, Bill No. 980232, adopted by the City on April 30, 1998 (the "1998 General Ordinance"), a sum or sums which in the aggregate shall not exceed the principal amount of Notes authorized to be issued and at any other time Outstanding hereunder, to be expended as provided in Section 2 of this Ordinance. The Notes shall be sold at public or private sale and shall contain such terms and provisions including, without limitation, the appointment of one or more securities dealers, brokers or other en...