header-left
Share to Facebook Share to Twitter Bookmark and Share
File #: 161001    Version: 0 Name:
Type: Bill Status: ENACTED
File created: 11/17/2016 In control: Committee on Finance
On agenda: Final action: 1/26/2017
Title: Constituting the Fifteenth Supplemental Ordinance to the Amended and Restated General Airport Revenue Bond Ordinance; authorizing the Mayor, the City Controller and the City Solicitor, or a majority of them, to issue and sell one or more series of tax-exempt or taxable Airport Revenue Bonds or Notes of the City of Philadelphia; setting forth the use of proceeds of such Bonds or Notes; determining the sufficiency of pledged Amounts Available for Debt Service; covenanting for the payment of interest and principal; authorizing the Bond Committee to take certain action with regard to the terms and conditions of the airport revenue bonds or notes and related agreements and the elections under the Amended and Restated General Airport Revenue Bond Ordinance; authorizing the Director of Finance to take certain actions with regard to the sale of such airport revenue bonds or notes, the investment of the proceeds thereof and the City's continuing disclosure obligation; and specifying applicabil...
Sponsors: Councilmember Blackwell, Council President Clarke
Indexes: AIRPORT, BONDS
Attachments: 1. CertifiedCopy16100100.pdf
Date Ver.Action ByActionResultTallyAction DetailsVideo
2/8/20170 MAYOR SIGNED   Action details Not available
1/26/20170 CITY COUNCIL PASSEDPass17:0 Action details Not available
12/1/20160 CITY COUNCIL ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR   Action details Not available
12/1/20160 CITY COUNCIL SUSPEND THE RULES OF THE COUNCILPass  Action details Not available
12/1/20160 CITY COUNCIL READ AND ORDERED PLACED ON NEXT WEEK'S SECOND READING CALENDAR   Action details Not available
11/29/20160 Committee on Finance HEARING NOTICES SENT   Action details Not available
11/29/20160 Committee on Finance HEARING HELD   Action details Not available
11/29/20160 Committee on Finance REPORTED FAVORABLY, RULE SUSPENSION REQUESTED   Action details Not available
11/17/20160 CITY COUNCIL Introduced and ReferredPass  Action details Not available
Title
Constituting the Fifteenth Supplemental Ordinance to the Amended and Restated General Airport Revenue Bond Ordinance; authorizing the Mayor, the City Controller and the City Solicitor, or a majority of them, to issue and sell one or more series of tax-exempt or taxable Airport Revenue Bonds or Notes of the City of Philadelphia; setting forth the use of proceeds of such Bonds or Notes; determining the sufficiency of pledged Amounts Available for Debt Service; covenanting for the payment of interest and principal; authorizing the Bond Committee to take certain action with regard to the terms and conditions of the airport revenue bonds or notes and related agreements and the elections under the Amended and Restated General Airport Revenue Bond Ordinance; authorizing the Director of Finance to take certain actions with regard to the sale of such airport revenue bonds or notes, the investment of the proceeds thereof and the City's continuing disclosure obligation; and specifying applicability of sections of The First Class City Revenue Bond Act and the Amended and Restated General Airport Revenue Bond Ordinance.

Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

SECTION 1. Authorization, Scope and Purpose. The Mayor, the City Controller and the City Solicitor, or a majority of them (the "Bond Committee"), are hereby authorized, on behalf of the City of Philadelphia (the "City"), to borrow, by the issuance and sale of Airport revenue bonds or notes (the "Obligations"), a sum or sums which in the aggregate shall not exceed the principal amount of the Obligations authorized to be issued hereunder for the purposes as provided in Section 2 of this Ordinance. The Obligations shall be structured as follows: (i) as a loan or other direct financing agreement (the "Direct Loan Obligations") with one or more banks whereby one or more series or subseries of tax-exempt or taxable airport revenue bonds of the City are issued and sold and the pr...

Click here for full text