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Back to search resultsCOMMUNICATION 210072

Transmitting an ordinance authorizing and approving the execution and delivery of a Service Agreement between The City of Philadelphia and the Philadelphia Authority for Industrial Development relating to the refunding of certain bonds previously issued to finance and/or refinance Alternative Funding Mechanisms for a portion of the unfunded actuarial accrued liability of the City of Philadelphia Retirement System implemented pursuant to the Municipal Pension Plan Funding Standard and Recovery Act; approving the issuance by the Philadelphia Authority for Industrial Development of bonds, notes or other evidences of indebtedness in one or more series, to refund such bonds; authorizing and approving the City's obligation to pay in full when due the Service Fee and other amounts payable under the Service Agreement; authorizing certain City officers to take certain actions required to issue bonds, notes or other evidences of indebtedness; covenanting that the City will make necessary appropr...

AI summary

This communication, which was placed on file, transmitted a proposed ordinance concerning the refunding of bonds connected to financing part of the unfunded actuarial liability of Philadelphia’s Retirement System. The proposal also addressed a service agreement with the Philadelphia Authority for Industrial Development and the City’s potential payments and appropriations related to that agreement.

File details

Status
PLACED ON FILE
Introduced
January 28, 2021
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Full text

End

File history

Sometimes city council's record keeping is not complete. This timeline reflects the information on the council's legistar website.

No published actions are available for this file yet.