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File #: 200296-A    Version: Name:
Type: Bill Status: ENACTED
File created: 5/1/2020 In control: Committee on Finance
On agenda: Final action: 6/25/2020
Title: Constituting the Fifteenth 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 and Gas Works Revenue Bonds to refund such Bonds (the "Bonds"); 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; 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 shall not be arbitrage bonds; all under certain terms and conditions.
Sponsors: Council President Clarke, Councilmember Green
Indexes: GAS WORKS REVENUE BOND
Attachments: 1. CertifiedCopy200296-A01.pdf, 2. 200296 - Section 8 Documents.pdf
Date Ver.Action ByActionResultTallyAction DetailsVideo
6/26/20201 MAYOR SIGNED   Action details Not available
6/25/20200 CITY COUNCIL READ AND PASSEDPass17:0 Action details Not available
6/18/20200 CITY COUNCIL READ   Action details Not available
6/18/20201 CITY COUNCIL AMENDED   Action details Not available
6/18/20201 CITY COUNCIL ORDERED PLACED ON FINAL PASSAGE CALENDAR FOR NEXT MEETING.   Action details Not available
6/11/20200 CITY COUNCIL SUSPEND THE RULES OF THE COUNCIL   Action details Not available
6/11/20200 CITY COUNCIL ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR   Action details Not available
6/11/20200 CITY COUNCIL READ AND ORDERED PLACED ON NEXT WEEK'S SECOND READING CALENDAR   Action details Not available
6/8/20200 Committee on Finance     Not available Not available
6/8/20200 Committee on Finance     Not available Not available
6/8/20200 Committee on Finance     Not available Not available
5/1/20200 CITY COUNCIL     Not available Not available
Title
Constituting the Fifteenth 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 and Gas Works Revenue Bonds to refund such Bonds (the "Bonds"); 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; 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 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 2 of this Ordinance. Each Series of Bonds shall be sold at public or private sale and shall contain such terms and provisions as are determined by a majority of the Bond Committee to be in the best interests of the City and are not inconsistent with the provisions he...

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