City Officials Team Up With PMA To Greenify Iconic Buildings And Cut Energy Costs

Official:Authorizing the Director of Finance and the Commissioner of Public Property on behalf of the City, in cooperation with The Philadelphia Municipal Authority (the "Authority"), to undertake a project relating to the evaluation and implementation of energy conservation measures at City Hall, the Criminal Justice Center, the Municipal Services Building and the One Parkway Building; authorizing and approving: (i) the issuance by the Authority of revenue bonds in connection with the project, (ii) the entering into, execution and delivery of a Service Agreement between the City and the Authority providing for payment by the City to the Authority of amounts necessary to pay the costs of the Project, (iii) the provisions for establishment of credit enhancement, and (iv) the assignment of the Service Agreement by the Authority to a trustee, covenanting that the City will make necessary appropriations in each of the City's fiscal years to provide for payments due under the Service Agreement, and will make such payments, all under certain terms and conditions; and making certain related determinations and authorizations.