This bill allows the city to issue bonds to fund water and wastewater projects, which will be paid back with revenue from these systems. The bonds can have fixed or variable interest rates and will be used to fund various water and wastewater projects. This affects Philadelphia residents who use the city's water and wastewater systems.

Constituting the Twenty-Eighth Supplemental Ordinance to the Restated General Water and Wastewater Revenue Bond Ordinance of 1989, as supplemented; authorizing the Bond Committee to issue and sell one or more series or subseries of tax-exempt or taxable water and wastewater revenue bonds and revenue refunding bonds; authorizing agreements to provide credit enhancement or payment or liquidity sources (or any combination of the foregoing) for such Bonds; providing that such Bonds shall bear interest at fixed or variable rates; determining the sufficiency of pledged Project Revenues; authorizing the Director of Finance to take certain actions with regard to the sale of such Bonds, the investment of proceeds thereof and the City's continuing disclosure obligations with respect to such Bonds; setting forth the use of proceeds of such Bonds; covenanting the payment of interest and principal; supplementing the Restated General Water and Wastewater Revenue Bond Ordinance of 1989; and specifyin...