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File #: 171111    Version: 0 Name:
Type: Bill Status: ENACTED
File created: 12/14/2017 In control: Committee on Finance
On agenda: Final action: 4/5/2018
Title: Constituting the Twentieth Supplemental Ordinance to the Restated General Water and Wastewater Revenue Bond Ordinance of 1989, as supplemented; authorizing the Bond Committee to issue and sell one or more series or subseries of tax-exempt or taxable water and wastewater revenue bonds and revenue refunding bonds; authorizing agreements to provide credit enhancement or payment or liquidity sources (or any combination of the foregoing) for such Bonds; providing that such Bonds shall bear interest at fixed or variable rates; determining the sufficiency of pledged Project Revenues; authorizing the Director of Finance to take certain actions with regard to the sale of such Bonds, the investment of proceeds thereof and the City's continuing disclosure obligations with respect to such Bonds; setting forth the use of proceeds of such Bonds; covenanting the payment of interest and principal; and supplementing the Restated General Water and Wastewater Revenue Bond Ordinance of 1989.
Sponsors: Council President Clarke, Councilmember Blackwell
Indexes: BONDS
Attachments: 1. CertifiedCopy17111100.pdf
Date Ver.Action ByActionResultTallyAction DetailsVideo
4/18/20180 MAYOR SIGNED   Action details Not available
4/18/20180 MAYOR SIGNED   Action details Not available
4/5/20180 CITY COUNCIL READ AND PASSEDPass17:0 Action details Not available
3/22/20180 CITY COUNCIL SUSPEND THE RULES OF THE COUNCILPass  Action details Not available
3/22/20180 CITY COUNCIL ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR   Action details Not available
3/22/20180 CITY COUNCIL READ AND ORDERED PLACED ON NEXT WEEK'S SECOND READING CALENDAR   Action details Not available
3/19/20180 Committee on Finance HEARING NOTICES SENT   Action details Not available
3/19/20180 Committee on Finance HEARING HELD   Action details Not available
3/19/20180 Committee on Finance REPORTED FAVORABLY, RULE SUSPENSION REQUESTED   Action details Not available
12/14/20170 CITY COUNCIL Introduced and ReferredPass  Action details Not available
Title
Constituting the Twentieth Supplemental Ordinance to the Restated General Water and Wastewater Revenue Bond Ordinance of 1989, as supplemented; authorizing the Bond Committee to issue and sell one or more series or subseries of tax-exempt or taxable water and wastewater revenue bonds and revenue refunding bonds; authorizing agreements to provide credit enhancement or payment or liquidity sources (or any combination of the foregoing) for such Bonds; providing that such Bonds shall bear interest at fixed or variable rates; determining the sufficiency of pledged Project Revenues; authorizing the Director of Finance to take certain actions with regard to the sale of such Bonds, the investment of proceeds thereof and the City's continuing disclosure obligations with respect to such Bonds; setting forth the use of proceeds of such Bonds; covenanting the payment of interest and principal; and supplementing the Restated General Water and Wastewater Revenue Bond Ordinance of 1989.

Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

Section 1. Authorization, Scope and Purpose. This Supplemental Ordinance is enacted pursuant to the provisions of The First Class City Revenue Bond Act, approved October 18, 1972 (Act No. 234, 53 P.S. ยงยง15901 to 15924), as amended (the "Act"), and constitutes a Supplemental Ordinance enacted for the purpose of authorizing one or more series or subseries of Bonds within the meaning of the City's Restated General Water and Wastewater Revenue Bond Ordinance of 1989 (Bill No. 544) approved June 24, 1993, as amended and supplemented (the "General Ordinance").

(a) The Bond Committee is hereby authorized on behalf of the City to borrow, by the issuance and sale of one or more series or subseries of Bonds of the City (the "New Money Bonds"), to be expended as provided in Section 4(a) of this Supplemental Ordinance, a sum or sums which in the aggregate principal amount shall not exceed five hundred million ...

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