City of Philadelphia - File #: 150159

• File #: 150159
• Version: 1
• Type: Bill
• Status: ENACTED
• File created: 3/5/2015
• In control: Committee on Finance
• Final action: 3/26/2015
• Title: Constituting the Thirteenth 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 (the "Bonds") and Gas Works Revenue Bonds to refund such Bonds, to pay the costs of certain capital projects, the costs of redeeming the City's Gas Works Revenue Capital Project Commercial Paper Notes, and the costs of refunding or redeeming certain outstanding Gas Works Revenue Bonds issued and outstanding pursuant to the 1998 General Ordinance and the General Gas Works Revenue Bond Ordinance of 1975 (the "1975 General Ordinance") and any termination payment which may become due under a Qualified Swap Agreement in connection with the redemption of all or any portion of certain Gas Works Revenue Bonds and other Project Costs; authorizing the City to obtain credit enhancement for any Series of the Bo...
• Sponsors: Council President Clarke, Councilmember Blackwell
• Indexes: PHILADELPHIA GAS WORKS

Date	Ver.	Action By	Action	Result	Tally
3/26/2015	1	CITY COUNCIL	READ AND PASSED	Pass	16:0
3/26/2015	1	MAYOR	SIGNED
3/19/2015	1	CITY COUNCIL	SUSPEND THE RULES OF THE COUNCIL	Pass
3/19/2015	1	CITY COUNCIL	ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR
3/19/2015	1	CITY COUNCIL	READ AND ORDERED PLACED ON NEXT WEEK'S SECOND READING CALENDAR
3/16/2015	0	Committee on Finance	HEARING NOTICES SENT
3/16/2015	0	Committee on Finance	HEARING HELD
3/16/2015	0	Committee on Finance	AMENDED
3/16/2015	1	Committee on Finance	REPORTED FAVORABLY, RULE SUSPENSION REQUESTED
3/5/2015	0	CITY COUNCIL	Introduced and Referred	Pass

Title
Constituting the Thirteenth 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 (the "Bonds") and Gas Works Revenue Bonds to refund such Bonds, to pay the costs of certain capital projects, the costs of redeeming the City's Gas Works Revenue Capital Project Commercial Paper Notes, and the costs of refunding or redeeming certain outstanding Gas Works Revenue Bonds issued and outstanding pursuant to the 1998 General Ordinance and the General Gas Works Revenue Bond Ordinance of 1975 (the "1975 General Ordinance") and any termination payment which may become due under a Qualified Swap Agreement in connection with the redemption of all or any portion of certain Gas Works Revenue Bonds and other Project Costs; 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.

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 (i) the issuance and sale of Gas Works Revenue Bonds (1998 General Ordinance), of the City (the "Bonds"), which may be issued in one or more series or subseries, at such times as set forth in a resolution or resolutions of the Bond Committee designated and with such relative priorities 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...