RECONSIDERED

The enacted ordinance authorized Philadelphia to issue up to $134 million in general-obligation bonds, subject to voter approval, for transit, streets and sanitation, municipal buildings, parks, recreation and museums, and economic and community development. It also provided for repayment through the City’s general revenues and scheduled a November 3, 2020 election question asking voters to approve the increase in City debt; the source does not state the election’s result.

Authorizing the Bond Committee to sell bonds at public or private negotiated sale, to provide funds toward various capital municipal purposes; providing for appropriations to the Sinking Fund Commission for the payment of such bonds; authorizing agreements to provide credit or payment or liquidity sources for the bonds in connection with issuance of the bonds, and certain other actions; providing for obtaining the consent of the electors to increasing the indebtedness of the City; and fixing a day and providing for arrangements for holding the election for obtaining such consent.