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Back to Council file resultsBill 260112

This bill allows the City of Philadelphia to continue selling special notes to fund the Gas Works, using some of the Gas Works' revenue as security for these notes. The bill affects the city's budget and management of the Gas Works. It outlines the rules and conditions for selling these notes, including how the money will be managed and paid back.

Authorizing, generally, the continued issuance and sale by the City of Philadelphia of Gas Works Revenue Notes of the City, prescribing the forms of notes and providing for their execution and payment, pledging certain revenues of the Gas Works as security, adopting a rate covenant and directing the imposition and collection of rates and charges sufficient to comply therewith, prescribing the conditions precedent to the issuance of specific series of notes, including a resolution passed by the Bond Committee providing for establishment of credit support for notes, providing for designation of a fiscal agent and sinking fund depositary, providing for establishment of a sinking fund and its management, providing remedies upon default, and providing for amendments and modifications.

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File details

Status
Enacted
Type
Bill
Introduced
February 19, 2026
Sponsors
Council President Johnson, Councilmember Gilmore Richardson

File history

What happened to this bill?

Dates are shown from newest to oldest, with actions from the same date grouped together. When Legistar publishes a member-by-member roll call, it appears with the action it belongs to.

  2. Member voteCITY COUNCIL

    READ AND PASSED

    Member-by-member vote published for this action.

    Pass17 Yes · 0 No · 0 AbsentView member votes →
    Official action detail

    A motion was made that this Bill be READ AND PASSED. The motion carried by the following vote:

    Member votes

    MemberVote
    Anthony PhillipsYes
    Brian J. O'NeillYes
    Cindy BassYes
    Curtis Jones, Jr.Yes
    Isaiah ThomasYes
    Jamie GauthierYes
    Jeffery Young, Jr.Yes
    Jim HarrityYes
    Katherine Gilmore RichardsonYes
    Kendra BrooksYes
    Kenyatta JohnsonYes
    Mark SquillaYes
    Michael DriscollYes
    Nicolas O'RourkeYes
    Nina AhmadYes
    Quetcy LozadaYes
    Rue LandauYes

    Source: MeetingDetail.aspx · gridMain

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  3. Council ActionCITY COUNCIL

    SUSPEND THE RULES OF THE COUNCIL

    Council action without a posted tally.

    Official action detail

    This Bill was SUSPEND THE RULES OF THE COUNCIL.

    Source: MeetingDetail.aspx · gridMain

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    2 routine procedural eventsCITY COUNCIL
    ProceduralCITY COUNCIL

    READ AND ORDERED PLACED ON NEXT WEEK'S SECOND READING CALENDAR

    Procedural action without a posted tally.

    Official action detail

    This Bill was READ AND ORDERED PLACED ON NEXT WEEK'S SECOND READING CALENDAR.

    Source: MeetingDetail.aspx · gridMain

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    ProceduralCITY COUNCIL

    ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR

    Procedural action without a posted tally.

    Official action detail

    This Bill was ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR.

    Source: MeetingDetail.aspx · gridMain

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  4. ProceduralCITY COUNCIL

    Introduced and Referred

    Procedural action without a posted tally.

    Official action detail

    This Bill was Introduced and Referred.to the Committee on Finance

    Source: MeetingDetail.aspx · gridMain

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