Official:Constituting the Twentieth Supplemental Ordinance to the General Gas Works Revenue Bond Ordinance of 1975 (the "1975 General Ordinance"); authorizing the City of Philadelphia (the "City") to sell, either at public or private sale, Gas Works Revenue Bonds, Twentieth Series (the "Twentieth Series Bonds") to pay the cost of refunding or redeeming certain outstanding Gas Works Revenue Bonds and other Project Costs; authorizing the City to obtain credit enhancement for the Twentieth Series Bonds; making certain determinations and covenants relating to Project Revenues and the payment of interest and principal; and authorizing covenants and actions in order that the Twentieth Series Bonds shall not be arbitrage bonds; all under certain terms and conditions.
Sponsor: Councilmember Tasco
Introduced: May 26, 2011
: Committee on Finance
Status: Signed into Law, step 4 of 4
This bill authorizes the City of Philadelphia to sell new bonds (the Twentieth Series Bonds) to pay for refunding or redeeming existing gas works revenue bonds and other costs.
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