Title
Resolution authorizing the Mayor and the Director of Department of Finance, on behalf of the City of Pittsburgh, to enter into a Bill or Bills of Sale, Assignment, and Indenture with Pittsburgh Water and Sewer Authority (d/b/a Pittsburgh Water) for Leased Property, pursuant to the July 1995 Capital Lease Agreement, for total amount not to exceed One Dollar ($1.00).
Body
Whereas, Pittsburgh Water was created by the City of Pittsburgh ("City") as a municipal authority under Pennsylvania law pursuant to the Pennsylvania Municipality Authorities Act, 53 Pa. C.S.A. ? 5601 et seq., to manage and operate the City's waterworks, water supply works, water distribution systems, and sewer systems with the goal of providing clean, safe, reliable, and efficient drinking water delivery, sanitary sewage conveyance, and storm water removal services; and
Whereas, Pittsburgh Water and the City entered into a Capital Lease Agreement in July 1995 wherein Pittsburgh Water leased certain property, as more fully described in the Agreement, from the City; and
Whereas, consistent with Article 3(b) of the Agreement, Pittsburgh Water informed the City of Pittsburgh Water's intention to acquire the Leased Property (as defined in the Agreement) from the City and the parties have engaged in negotiations to memorialize the transfer from the City to Pittsburgh Water; and
Whereas, the proposed agreement is consistent with Article 11 of the Pittsburgh Home Rule Charter, which restricts the lease and/or sale of the City's water systems, wastewater systems, and storm sewer systems to private entities; and
Whereas, the Board of Directors of Pittsburgh Water approved the agreements negotiated between Pittsburgh Water and the City; and
Whereas, the Members of City Council now also seek to duly authorize the City to approve the same agreements, so that Pittsburgh Water can submit the agreements to the Pennsylvania Public Utility Commission for Approval;
Be it resolved by the Council o...
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