WHEREAS, By Ordinance approved October 5, 2007 (Bill No. 070670), the Council authorized the issuance of up to $55,000,000 of General Obligation Bonds for various capital purposes.
WHEREAS, By Ordinance approved February 21, 2007 (Bill No. 070021), the Council authorized the issuance of up to $129,695,000 of General Obligation Bonds for various capital purposes; and
WHEREAS, Act 1985-85, approved December 8, 1985, P.L. 324, requires that in order to sell such bonds at a negotiated private sale a resolution shall be adopted by a majority of the members of City Council finding that such a private sale is in the best financial interest of the City; now therefore, be it
RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA, That a negotiated private sale of up to $55,090,000 of General Obligation Bonds, authorized by the Ordinance approved October 5, 2007 (Bill No. 070670), is in the best financial interest of the City; and
FURTHER RESOLVED, That a negotiated private sale of up to $129,695,000 of General Obligation Bonds, authorized by the Ordinance approved February 21, 2007 (Bill No. 070021), is in the best financial interest of the City.
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