Approving the annual Program Statement and Budget for the expenditure of the Neighborhood Transformation Initiative (NTI) Bond Proceeds for Fiscal Year 2003.

WHEREAS, Pursuant to Bill No. 010694, as amended by Bill No. 020036, proceeds of bonds issued for the Neighborhood Transformation Initiative generally may not be spent without Council approval by resolution of an annual Program Statement and Budget; and

WHEREAS, Council wishes to approve of the annual Program Statement and Budget for Fiscal Year 2003; now therefore

RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA:

Section 1. The annual Program Statement and Budget for the expenditure of the Neighborhood Transformation Initiative (NTI) Bond Proceeds for Fiscal Year 2003, attached hereto as Exhibit "A", is hereby approved.

Section 2. The Chief Clerk of City Council shall keep on file and make available to the public for inspection during regular office hours the exhibit referenced in this Resolution.

End