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Back to search resultsResolution 020186

Requesting the Mayor to return to Council Bill No. 020027, entitled "An Ordinance authorizing the creation of a loan or loans to provide funds for and toward various capital municipal purposes; authorizing the Mayor, City Controller and City Solicitor or a majority of them to sell bonds at public or private negotiated sale; setting forth the capital purposes and the amounts for which the proceeds of the loan or loans will be expended; providing for the maturities and for other terms and conditions and for the form of the bonds; providing that certain 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 or payment or liquidity sources for the bonds and certain other actions; providing for obtaining the consent of the electors to increasing the indebtedness of the City of Philadelphia; and fixing a day for holding the election for obtaining s...

AI summary

The adopted resolution requests that the Mayor return Bill No. 020027 to City Council so Council can reconsider its vote approving the bill. The bill concerns borrowing money through loans and bonds for various city capital purposes, including the terms of the bonds and voter consent to increasing Philadelphia’s debt.

File details

Status
ADOPTED
Introduced
March 21, 2002
Sponsors
Jannie L. Blackwell
View official record ↗

Full text

WHEREAS, Bill No. 020027 was passed by this Council on March 14, 2002, and thereafter presented to the Mayor for his signature; and

WHEREAS, Council now wishes to reconsider the vote by which said bill passed Council; now therefore

RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA, That Council hereby requests the Mayor to return to it Bill No. 020027, entitled "An Ordinance authorizing the creation of a loan or loans to provide funds for and toward various capital municipal purposes; authorizing the Mayor, City Controller and City Solicitor or a majority of them to sell bonds at public or private negotiated sale; setting forth the capital purposes and the amounts for which the proceeds of the loan or loans will be expended; providing for the maturities and for other terms and conditions and for the form of the bonds; providing that certain 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 or payment or liquidity sources for the bonds and certain other actions; providing for obtaining the consent of the electors to increasing the indebtedness of the City of Philadelphia; and fixing a day for holding the election for obtaining such consent and providing for the arrangements for holding such election," for the purpose of reconsideration by the Council of the vote by which said bill passed Council.

File history

Sometimes city council's record keeping is not complete. This timeline reflects the information on the council's legistar website.
  1. Council actionCITY COUNCIL

    Adopted

    Council actionCITY COUNCIL

    Introduced

    Pass
    Council actionCITY COUNCIL

    Read