READ AND PASSED

This enacted ordinance authorized the City, working with the Philadelphia Municipal Authority, to evaluate and install energy- and resource-saving measures at City Hall, the Criminal Justice Center, the Municipal Services Building, and the One Parkway Building. It also approved financing the project with Authority revenue bonds of up to $13.2 million and required the City to make annual payments and appropriations under a service agreement.

Authorizing the Director of Finance and the Commissioner of Public Property on behalf of the City, in cooperation with The Philadelphia Municipal Authority (the "Authority"), to undertake a project relating to the evaluation and implementation of energy conservation measures at City Hall, the Criminal Justice Center, the Municipal Services Building and the One Parkway Building; authorizing and approving: (i) the issuance by the Authority of revenue bonds in connection with the project, (ii) the entering into, execution and delivery of a Service Agreement between the City and the Authority providing for payment by the City to the Authority of amounts necessary to pay the costs of the Project, (iii) the provisions for establishment of credit enhancement, and (iv) the assignment of the Service Agreement by the Authority to a trustee, covenanting that the City will make necessary appropriations in each of the City's fiscal years to provide for payments due under the Service Agreement, and ...