End
Transmitting a bill 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 and private negotiated sale; setting for the capital purposes and the amounts for which 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; fixing a day for holding the election for obtaining such consent and providing for the arrangements for holding such electio...
AI summary
This communication transmitted a proposed bill about creating loans and selling bonds to fund various city capital purposes, including setting repayment terms and related sinking funds. It also addressed seeking voter approval to increase Philadelphia’s debt and setting an election date; the item was placed on file and does not itself authorize those actions.