Presenter
Presented by Ms. McDonald
AS AMENDED
Title
A Resolution: (a) authorizing and directing issuance of a series of General Obligation Bonds, Series A of 2002 (the "Bonds"), in the aggregate principal amount of One Hundred Twenty-Six Million Five Hundred Eighty-Five Thousand Dollars ($126,585,000) pursuant to the Act of the General Assembly of the Commonwealth of Pennsylvania, known as the Local Government Unit Debt Act, with the proceeds to provide funds (1) to advance refund a portion of the City's outstanding General Obligation Bonds, Series A of 1994, Series A, B and C of 1997 and Series A of 1999, (2) for the costs of various capital projects including capital projects in City neighborhoods and projects associated with major development, housing, infrastructure, transportation and parks, (3) to capitalize a portion of the interest on the Bonds and (4) for the costs and expenses of issuing the Bonds; (b) finding a private sale upon invitation to be in the best financial interests of the City; (c) accepting a proposal for purchase of the Bonds and awarding the Bonds;(d) providing that the Bonds shall be general obligations and shall constitute nonelectoral debt of the City; (e) fixing the substantial form, denomination, number, date, maturity dates, interest rates, interest payment dates, registration provisions and place of payment of principal and interest; (f) authorizing execution of the Bonds and authentication thereof; (g) authorizing the execution of an escrow agreement for the refunded bonds and appointing the escrow agent; (h) providing covenants related to payment of debt service and continuing disclosure; (i) creating a sinking fund; (j) appointing a paying agent, registrar, transfer agent, sinking fund depository, financial advisor, bond counsel, disclosure counsel and escrow counsel; (k) authorizing the purchase of bond insurance; (l) approving the preliminary official statement and the official statement; (m) authorizing and direc...
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