This bill allows the city to borrow more money, within the state's limit, to fund various city projects and services. The city will sell bonds to raise these funds and set aside money to pay back the bonds. This affects the city's budget and ability to fund projects.

Authorizing an increase in the non-electoral indebtedness of the City within the Pennsylvania constitutional limit; 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; and authorizing agreements to provide credit or payment or liquidity sources for the bonds in connection with issuance of the bonds, and certain other actions.