Official:Authorizing an increase in the non-electoral indebtedness of the City within the Pennsylvania constitutional limit; authorizing the Bond Committee to sell bonds at public or private negotiated sale, to provide funds toward various capital municipal purposes; providing for appropriations to the Sinking Fund Commission for the payment of such bonds; and authorizing agreements to provide credit or payment or liquidity sources for the bonds in connection with issuance of the bonds, and certain other actions.
Sponsor: Council President Clarke
Introduced: September 22, 2022
Signed: December 8, 2022
: Committee on Finance
Status: Signed into Law, step 4 of 4
This bill authorizes the City of Philadelphia to borrow $215 million for various capital projects and expenses, using general obligation bonds that don't need voter approval because they won't exceed a certain debt limit.
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