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Ordinance amending the Pittsburgh Code, Title 2: Fiscal, Article I: Administration, Chapter 202: Debt Management Policy, by updating the language in the chapter following the periodic review outlined in Section 202.14.
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The Council of the City of Pittsburgh hereby enacts as follows:
Section 1. The Pittsburgh Code, Title 2: Fiscal, Article I: Administration, Chapter 202: Debt Management Policy, is amended as follows:
? 202.01. Definitions.
(a) BAN - Bond Anticipation Notes.
(b) CAPITAL PROJECT - any project funded by public monies in partial or whole, or proposed to be funded by public monies in partial or whole, to build, restore, retain, rehabilitate, purchase or repurchase any equipment, property, facility, infrastructure, vehicle, hardware for information technology, park facility, or building and otherwise consistent with LGUDA.
(c) DERIVATIVE - a financial instrument created from or whose value depends upon (is derived from) the value of one or more separate assets or indices of asset values, such as an interest rate swap.
(d) EMMA - Electronic Municipal Market Access.
(e) GFOA - Government Finance Officers Association.
(f) LGUDA - Local Government Unit Debt Act, 53 Pa. C.S. ? 8001 et seq.
(g) MSRB - Municipal Securities Rulemaking Board. SEC - Federal Securities and Exchange Commission. TIC - True Interest Cost.
(h) SEC - Federal Securities and Exchange Commission.
(i) TIC - True Interest Cost.
(j) TRAN - Tax or Revenue Anticipation Notes.
(k) URA - The Urban Redevelopment Authority of the City of Pittsburgh.
? 202.02. Municipal Advisor.
(a) City Council shall have the ability to enter into a contract with a SEC registered municipal advisor when needed consistent with existing authority, who shall provide professional assistance and analysis of any prospective debt issue.
(b) The Council Municipal Advisor shall not be associated with, or be a beneficiary in any manner, regarding the issuance that is being analyzed and shall comply with all a...
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