The City of Philadelphia has approved an agreement with the Philadelphia Energy Authority to finance energy conservation projects at city-owned properties. This will help reduce energy and water consumption, and lower operating costs. The city will pay for these improvements through a service fee and may issue bonds to cover the costs.

Authorizing and approving the execution and delivery of a Service Agreement between The City of Philadelphia, Pennsylvania and The Philadelphia Energy Authority relating to the financing of the construction, equipping, installation and implementation of energy conservation improvements and other measures designed to reduce energy, water, wastewater, or other consumption or operating costs at specified properties owned or leased, and operated, by the City; approving the issuance by such Authority of bonds, notes or other evidences of indebtedness in one or more series to finance or refinance the costs of such project and authorizing and approving the obligation of the City to pay in full when due the Service Fee and other amounts payable under the Service Agreement; authorizing certain City officers to take certain actions required to issue such bonds, notes or other evidences of indebtedness; covenanting that the City will make necessary appropriations in each of the City's fiscal year...