WHEREAS,
The City makes significant capital expenditures every year for the purpose of constructing and maintaining City-owned facilities to serve the public interest and to improve the quality of life for City residents; and
WHEREAS,
It is often in the public interest that the City undertake capital expenditures with respect to facilities that, while used and enjoyed by the public, are not owned by the City; and
WHEREAS,
Various City-related entities and agencies, including the School District Philadelphia, own and maintain facilities that serve a public purpose and are available for use by the public; and
WHEREAS,
It is in the City’s interest to invest capital dollars in properties owned by City-related agencies including the School District of Philadelphia, that serve a public purpose and are available for use by the public for periods of time exceeding five years; now, therefore
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. Title 21 of The Philadelphia Code is hereby amended to read as follows:
TITLE 21. MISCELLANEOUS.
CHAPTER 21-2300.
CAPITAL EXPENDITURE ELIGIBILITY REQUIREMENTS.
§ 21-2301.
Definitions.
“Capital Expenditure” shall be defined as an expenditure for the:
a) construction of public improvements to real property, including any related professional services;
b) the purchase of equipment for any public improvements when first erected or acquired; and
c) the acquisition of property of a permanent nature.
§ 21-2302.
Five-year Useful Life to the City.
Capital Expenditures shall be undertaken for the exclusive purpose of constructing public improvements to real property (including related professional services and equipment), and purchasing property of a permanent nature, which have a probable useful life to the City of at least five years, pursuant to Section 2-300(2) of The Philadelphia Home Rule Charter.
Capital Expenditures made with respect to real property that is not owned by the City but is owned by a City-related entity or agency, that serve a public purpose and result in work or projects that are available for use by the public for a period of at least five years, shall be deemed to satisfy the requirements of Section 2-300(2) of The Philadelphia Home Rule Charter. Therefore, such Capital Expenditures are hereby authorized.
3)
Any Capital Expenditure funded with bond proceeds shall comply with the terms and conditions for the use of such proceeds, set forth in the ordinance authorizing the bonds.
SECTION 2.
This Ordinance shall take effect immediately upon final passage.
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Explanation:
Italics
indicate new matter added.
End