Official:Constituting the Fifth 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; 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 Bond Committee to elect to include all revenues, rents, rates, tolls or other charges generated by or allocable to the Overseas Terminal and the Outside Terminal Area as Project Revenues; 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.
Sponsor: Council President Verna
Introduced: February 12, 2004
: Committee on Finance
Status: Lapsed
This bill was introduced in the 2004–2007 Council term and when that term ran out. The public record shows no committee vote and no floor vote at any stage, so no member of Council ever went on record for or against it.
That is not unusual here. Of the 8,465 bills introduced between 2000 and 2025, 1,624 lapsed without a single recorded vote. Ninety percent of bills that became law carry a roll call. Three percent of lapsed bills do. How this works.
This bill authorizes the City of Philadelphia to issue Airport Revenue Bonds and make related financial decisions. It affects how the city manages its airport revenue and bond debt.
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