City of Philadelphia Moves to Issue Airport Revenue Bonds for Major Airfield Upgrades and Improvements

Official:Constituting the Third Supplemental Ordinance to the Amended and Restated General Airport Revenue Bond Ordinance; authorizing the Mayor, the City Controller and the City Solicitor, or a majority of them, to issue one or more series of Airport Revenue Bonds, of the City of Philadelphia, and to take certain actions with respect to Qualified Swap Agreements, Exchange Agreements and similar instruments, setting forth the use of such Airport Revenue Bonds; providing for the pledge of certain passenger facility charges for this and certain subsequent series of Airport Revenue Bonds; determining the sufficiency of pledged Amounts Available for Debt Service; covenanting the payment of interest and principal; authorizing the Bond Committee to take certain action with regard to the terms and conditions of the Airport Revenue Bonds and related agreements; authorizing the Director of Finance of the City to take certain actions with regard to the sale of such Airport Revenue Bonds and the City's continuing disclosure obligation; and specifying applicability of sections of The First Class City Revenue Bond Act and the Amended and Restated General Airport Revenue Bond Ordinance.