City of Philadelphia - File #: 170432

• File #: 170432
• Version: 0
• Type: Bill
• Status: ENACTED
• File created: 5/4/2017
• In control: Committee on Finance
• Final action: 6/15/2017
• Title: Constituting the Fourteenth 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, and one or more series of Gas Works Revenue Notes (the "Notes") and Gas Works Revenue Bonds or Notes to refund such Notes; to pay the costs of certain capital projects and other Project Costs; authorizing the City to obtain credit enhancement for any Series of the Bonds or Series of 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 Bonds and Notes shall not be arbitrage bonds; all under certain terms and conditions.
• Sponsors: Councilmember Green
• Indexes: BONDS, PHILADELPHIA GAS WORKS

Date	Ver.	Action By	Action	Result	Tally
6/21/2017	0	MAYOR	SIGNED
6/15/2017	0	CITY COUNCIL	READ AND PASSED	Pass	17:0
6/8/2017	0	CITY COUNCIL	ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR
6/8/2017	0	CITY COUNCIL	SUSPEND THE RULES OF THE COUNCIL	Pass
6/8/2017	0	CITY COUNCIL	READ AND ORDERED PLACED ON NEXT WEEK'S SECOND READING CALENDAR
6/5/2017	0	Committee on Finance	HEARING NOTICES SENT
6/5/2017	0	Committee on Finance	HEARING HELD
6/5/2017	0	Committee on Finance	REPORTED FAVORABLY, RULE SUSPENSION REQUESTED
5/4/2017	0	CITY COUNCIL	Introduced and Referred	Pass

Title
Constituting the Fourteenth 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, and one or more series of Gas Works Revenue Notes (the "Notes") and Gas Works Revenue Bonds or Notes to refund such Notes; to pay the costs of certain capital projects and other Project Costs; authorizing the City to obtain credit enhancement for any Series of the Bonds or Series of 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 Bonds and Notes 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 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 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 the Bonds authorized to be issued hereunder, to be expended as provided in Section 3 of this Ordinance. Each Series of Bonds shall be sold at public or private sale and shall contain such ter...