Official:Authorizing the issuance from time to time of one or more series of general obligation bonds to provide funds to refund certain outstanding general obligation bonds of The City of Philadelphia; authorizing the Mayor, City Controller and City Solicitor or a majority of them to sell the bonds at public or private negotiated sale; setting forth the purposes for which the proceeds of the bonds will be expended; providing for the maturities and for other terms and conditions and for the form of the bonds; providing that bonds may be redeemable prior to maturity; providing sinking funds for the bonds and for appropriations to the Sinking Fund Commission for the payment thereof; authorizing agreements to provide credit enhancement or payment or liquidity sources for the bonds and certain other actions.
Sponsor: Council President Clarke
Introduced: September 19, 2019
Signed: October 17, 2019
: Committee on Public Property and Public Works
Status: Signed into Law, step 4 of 4
This bill authorizes the City of Philadelphia to issue $1.5 billion in general obligation bonds to refund outstanding bonds and provides for their sale, repayment, and associated terms.
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