City of Philadelphia - File #: 171052

• File #: 171052
• Version: 0
• Type: Bill
• Status: ENACTED
• File created: 11/30/2017
• In control: Committee on Finance
• Final action: 12/14/2017
• Title: Authorizing and approving the execution and delivery of a Service Agreement between the City of Philadelphia and the Philadelphia Authority for Industrial Development relating to the financing of energy conservation and efficiency measures at the Philadelphia Museum of Art Main Building, the Perelman Building and the Rodin Building; approving the issuance by such Authority of bonds, notes or other evidences of indebtedness in one or more series to finance or refinance such project and authorizing and approving the obligation of the City to pay in full when due the Service Fee and other amounts payable under the Service Agreement; authorizing certain City officers to take certain actions required to issue such bonds, notes or other evidences of indebtedness; covenanting that the City will make necessary appropriations in each of the City's fiscal years to provide for, and will make timely payments of, the Service Fee and other amounts due under the Service Agreement; and authorizing Cit...
• Sponsors: Council President Clarke, Councilmember Blackwell
• Indexes: AGREEMENTS, PAID

Date	Ver.	Action By	Action	Result	Tally
1/3/2018	0	MAYOR	SIGNED
12/14/2017	0	CITY COUNCIL	READ AND PASSED	Pass	17:0
12/7/2017	0	CITY COUNCIL	ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR
12/7/2017	0	CITY COUNCIL	SUSPEND THE RULES OF THE COUNCIL	Pass
12/7/2017	0	CITY COUNCIL	READ AND ORDERED PLACED ON NEXT WEEK'S SECOND READING CALENDAR
12/6/2017	0	Committee on Finance	HEARING NOTICES SENT
12/6/2017	0	Committee on Finance	HEARING HELD
12/6/2017	0	Committee on Finance	REPORTED FAVORABLY, RULE SUSPENSION REQUESTED
11/30/2017	0	CITY COUNCIL	Introduced (By Request) and Referred	Pass

Title
Authorizing and approving the execution and delivery of a Service Agreement between the City of Philadelphia and the Philadelphia Authority for Industrial Development relating to the financing of energy conservation and efficiency measures at the Philadelphia Museum of Art Main Building, the Perelman Building and the Rodin Building; approving the issuance by such Authority of bonds, notes or other evidences of indebtedness in one or more series to finance or refinance such project and authorizing and approving the obligation of the City to pay in full when due the Service Fee and other amounts payable under the Service Agreement; authorizing certain City officers to take certain actions required to issue such bonds, notes or other evidences of indebtedness; covenanting that the City will make necessary appropriations in each of the City's fiscal years to provide for, and will make timely payments of, the Service Fee and other amounts due under the Service Agreement; and authorizing City officials to take other necessary or appropriate actions to effectuate the purposes of this ordinance; all under certain terms and conditions.

Body
WHEREAS, The City of Philadelphia (the "City") and the Philadelphia Authority for Industrial Development (the "Authority") have determined that the Authority will, at the direction of and with the cooperation of the City, undertake pursuant to the Service Agreement (as defined herein) to provide financial services to the City through the financing of a project consisting of the evaluation and implementation of energy conservation and efficiency measures designed to reduce energy, water, wastewater or other consumption or operating costs at 2600 Benjamin Franklin Parkway, Philadelphia, Pennsylvania (the "Philadelphia Museum of Art Main Building"), 2525 Pennsylvania Avenue, Philadelphia, Pennsylvania (the "Perelman Building"), and 2151 Benjamin Franklin Parkway, Philadelphia, Pennsylvania (the "Rodin Building") (the "Project"...