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File #: 170308    Version: 0 Name:
Type: Bill Status: ENACTED
File created: 3/30/2017 In control: Committee on Finance
On agenda: Final action: 5/11/2017
Title: Constituting the Sixteenth Supplemental Ordinance to the Amended and Restated General Airport Revenue Bond Ordinance, providing for certain amendments to the Amended and Restated General Airport Revenue Bond Ordinance under certain terms and conditions.
Sponsors: Councilmember Johnson
Indexes: AIRPORT, BONDS
Attachments: 1. CertifiedCopy17030800.pdf
Date Ver.Action ByActionResultTallyAction DetailsVideo
5/17/20170 MAYOR SIGNED   Action details Not available
5/11/20170 CITY COUNCIL READ AND PASSEDPass17:0 Action details Not available
5/4/20170 CITY COUNCIL ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR   Action details Not available
5/4/20170 CITY COUNCIL SUSPEND THE RULES OF THE COUNCILPass  Action details Not available
5/4/20170 CITY COUNCIL READ AND ORDERED PLACED ON NEXT WEEK'S SECOND READING CALENDAR   Action details Not available
5/1/20170 Committee on Finance HEARING NOTICES SENT   Action details Not available
5/1/20170 Committee on Finance HEARING HELD   Action details Not available
5/1/20170 Committee on Finance REPORTED FAVORABLY, RULE SUSPENSION REQUESTED   Action details Not available
3/30/20170 CITY COUNCIL Introduced and ReferredPass  Action details Not available
Title
Constituting the Sixteenth Supplemental Ordinance to the Amended and Restated General Airport Revenue Bond Ordinance, providing for certain amendments to the Amended and Restated General Airport Revenue Bond Ordinance under certain terms and conditions.

Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

SECTION 1. Amendment of Table of Contents of Amended and Restated General Airport Revenue Bond Ordinance. The Table of Contents of the Amended and Restated General Airport Revenue Bond Ordinance (Bill No. 950282) approved by the Mayor of the City of Philadelphia on June 16, 1995, as amended and supplemented (the "Amended and Restated Ordinance"), is amended by adding a new Section 4.02A after Section 4.02 and before Section 4.03. New Section 4.02A is entitled:

"Section 4.02. Designated PFC Revenues for Debt Service "

SECTION 2. Amendment of Section 2.01 of Amended and Restated Ordinance. Section 2.01 of the Amended and Restated Ordinance relating to Definitions And Other Provisions Of General Application is hereby amended, as follows:

(a) The definition of "UPS" is hereby deleted.

(b) The definition of "Amounts Available for Debt Service" is hereby amended to read as follows:

"Amounts Available for Debt Service" means for any particular period, Project Revenues for that period plus: (a) Passenger Facility Charges which are legally available to pay Debt Service Requirements with respect to such particular period to the extent such Passenger Facility Charges have been pledged under a Supplemental Ordinance, (b) grants or moneys received from private persons or public agencies, either federal, state or local, directly or indirectly for the benefit of the Airport System, to the extent deposited in the Sinking Fund to be used for Debt Service Requirements, and (c) that portion of the Aviation Operating Fund attributable to Amounts Available for Debt Service."

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