WHEREAS
, The General Assembly of the Commonwealth of Pennsylvania has enacted the Pennsylvania Intergovernmental Cooperation Authority Act for Cities of the First Class (Act of June 5, 1991, P.L. No. 6) (the "Act"); and
WHEREAS
, In accordance with the Act, the Pennsylvania Intergovernmental Cooperation Authority (the "Authority") has been created and an Intergovernmental Cooperation Agreement (the "Agreement") has been entered into by the Authority and the City; and
WHEREAS
, The Agreement provides, in Section 4.01 ("Submission of Financial Plan"), that at least one hundred (100) days prior to the beginning of each fiscal year the Mayor shall submit to the Authority a revised Financial Plan (the "Revised Plan") prepared in accordance with the provisions of the Agreement and the Act which shall include revenues and expenditures of the Covered Funds (as defined in the Agreement and the Act) for five (5) fiscal years of the City consisting of the fiscal year beginning on the July 1, next following the date such Plan is required to be submitted to the Authority and the next four (4) fiscal years thereafter; and
WHEREAS
, The Agreement provides, in Section 4.08 (“Revisions to the Financial Plan”), that the Mayor, within ninety (90) days of assuming office, shall propose to the Authority revisions to the Financial Plan, or certify to the Authority that he or she adopts the then-existing Financial Plan; and
WHEREAS
, On February 14, 2008 the Mayor has submitted a Revised Plan to City Council covering Fiscal Years 2009 through 2013, and incorporating proposed changes with respect to Fiscal Year 2008 as well, which Plan is attached hereto as Exhibit "A"; and
WHEREAS,
On
May 14, 2008, the Mayor has submitted to City Council proposed revisions to said Revised Plan; now therefore
RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA,
That the Council does hereby provide its approval of the Revised Plan as submitted by the Mayor on February 14, 2008, as revised on May 14, 2008.
[Note: Exhibits to this Resolution are on file in the Office of the Chief Clerk.]
End