Aye. The ayes are 16, the nays are 0. A majority of all Members of Council having voted in the affirmative, this bill passes. The Clerk will please read the title of Bill No. 010195.
An ordinance granting permission to Williams Communication, its successors and assigns to construct, maintain and operate, replace and remove a telecommunications system along, over, in and under the public rights-of-way SECOND READING AND FINAL PASSAGE CALENDAR and City streets, all under certain terms and conditions.
This bill having been read on two different days, the question now is shall the bill pass finally? The Clerk will please call the roll.
Aye. The ayes are 16, the nays are 0. A majority of all Members of Council having voted in the affirmative, this bill passes. The Clerk will please read the title of Bill No. 010061.
An ordinance constituting the seventh supplemental ordinance to the restated general water and waste revenue bond ordinance of 1998, as amended and supplemented, authorizing the Bond Committee or a majority of them to issue and SECOND READING AND FINAL PASSAGE CALENDAR sell either at public or private sale in one or more series of sub-series water and waste water revenue bonds of the City of Philadelphia.
Thank you, Madam President. I wish to offer an amendment to Bill No. 010061.
It is my understanding that all the Councilmembers do have a copy of the amendments?
Thank you. The Clerk will please read on -- do you want the Clerk to read the amendments for the record?
Would you make certain that stenographer has one and also the Chief Clerk.
Madam President, it has been requested that it be read, so we would like the Clerk to read the amendment.
Thank you. SECOND READING AND FINAL PASSAGE CALENDAR
Proposed amendment to Bill No. 010061. Section 4. Purposes for the Bonds. No more than $250 million of the proceeds from the sale of the bonds may be used to refund and redeem certain outstanding Bonds of the System, as such Prior Bonds are more fully set forth in the Determination. In connection with such refunding and redemption, the Bond Committee, or a majority of them are authorized to approve the redemption of the Prior Bonds and to enter into an Escrow Agreement providing for the deposit and investment of Bond proceeds in amounts sufficient to defease the Prior Bonds and providing for payment of the Prior Bonds at maturity or redemption, as applicable, including all interest payable on such Prior Bonds to such maturity or redemption dates, as applicable. No more than $250 million of the proceeds from the sale of the Bonds may be used for (a) construction, acquiring, reconstructing and renovating water treatment plants and related facilities and equipment for the sewer system; (b) constructing, acquiring, reconstructing and renovating water treatment plants and related facilities and equipment for the water system; (c) constructing, SECOND READING AND FINAL PASSAGE CALENDAR acquiring, reconstructing and replacing water and wastewater pipes, pumping stations and related facilities; (d) purchasing equipment and apparatus of a capital nature for the water and wastewater systems, all as included in the capital budgets of the City; (e) purchasing vehicles; (f) if applicable, paying the costs of Enhancement Agreements and/or costs related to any Qualified Swap or derivative financial instruments; (g) paying any other "project costs" as such term is defined in the Act; and (h) making the deposits referred to in Section 5 hereof; and (i) paying the issuance costs of the Bonds.
Thank you, Madam President. I move for the adoption of his of the amendment. (Duly seconded.)
It has moved and properly seconded that the amendment to Bill No. 010061 be adopted. All in favor will signify by saying aye -- I'm sorry, Councilman Cohen.
I would just like to SECOND READING AND FINAL PASSAGE CALENDAR ask the finance chairman majority leader for a short explanation of the purpose of the amendment.
Initially, the bill read $500 million. However, the technical staff felt that we should certainly contain it better and have more clarification by separating it into $250 million each and also by changing the language to indicate that no more than that, the proceeds from this bond may be used in these ways. So it defines it better and clarifies it better so that there can be no questions later about how any of this $500 million can be used.
All in favor of the adoption of the amendment signify by saying aye. (Aye.)
The ayes have it. The amendment is adopted and Bill No. 010061 SPEECHES - ADJOURNMENT will be placed on the Final Reading Passage Calendar for our next session of Council. This concludes our calendar. Are there any speeches on the part of the minority? Are there any speeches on the part of the Majority? The Chair recognizes Councilwoman Blackwell.
Thank you. This is just a reminder that we have a briefing with regard to the PGW at 3:00 for our my colleagues. Thank you.
Thank you. Are there any other speeches on the part of majority? Seeing none, the Chair recognizes Councilwoman Tasco.
Madam President, I move that Council stand adjourned until Thursday, May 10th at 10:00 a.m. (Duly seconded.)
It has been moved and properly seconded that Council stand SPEECHES - ADJOURNMENT adjourned until Thursday May 10, 2001 at 10:00 a.m. All in favor will say aye. (Aye.)
The ayes have it, and Council stands adjourned until Thursday May 10, 2001 at 10:00 a.m. (Council adjourned at 11:00 a.m.) C E R T I F I C A T I O N I HEREBY CERTIFY that the foregoing proceedings of the Council of the City of Philadelphia of May 3, 2001, were reported fully and accurately by me, and that this is a correct transcript of the same. RE: STATED MEETING ___________________________ Lisa C. Bradley, RPR and Notary Public