READ AND PASSED

This bill, which is currently in committee, would authorize an agreement between the City and the Philadelphia Authority for Industrial Development to finance the construction, equipment, and setup of a new Philadelphia Police Department forensics laboratory at 4101 Market Street. It would approve up to $40 million in bonds or other debt and require the City to budget and make payments from current revenues to cover the related service fees and other costs.

Authorizing and approving the execution and delivery of a Service Agreement between The City of Philadelphia, Pennsylvania and Philadelphia Authority for Industrial Development relating to the financing of the buildout, construction, equipping, installation and implementation of improvements for the development of a forensics laboratory for the Philadelphia Police Department at a specified property or properties owned or leased, and operated, by the City; approving the issuance by such Authority of bonds, notes or other evidences of indebtedness in one or more series to finance or refinance the costs of such project and authorizing and approving the obligation of the City to pay in full when due the Service Fee and other amounts payable under the Service Agreement; authorizing certain City officers to take certain actions required to issue such bonds, notes or other evidences of indebtedness; covenanting that the City will make necessary appropriations in each of the City’s fiscal year...