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File #: 2017-2135    Version:
Type: Resolution Status: Passed Finally
File created: 11/17/2017 In control: Committee on Finance and Law
On agenda: 12/6/2017 Final action: 12/12/2017
Enactment date: 12/12/2017 Enactment #: 49
Effective date: 12/20/2017    
Title: Ordinance amending the Pittsburgh Code at Title Two: Fiscal, Article I: Administration, Chapter 202: Debt Management Policy, so as to provide further guidance on the debt management financial controls which allow the City of Pittsburgh to efficiently issue debt while maintaining a responsible debt service level. (Briefing Held 12-4-17)
Indexes: PGH. CODE ORDINANCES TITLE 02 - FISCAL
Attachments: 1. Summary 2017-2135.docx
Title
Ordinance amending the Pittsburgh Code at Title Two: Fiscal, Article I: Administration, Chapter 202: Debt Management Policy, so as to provide further guidance on the debt management financial controls which allow the City of Pittsburgh to efficiently issue debt while maintaining a responsible debt service level.
(Briefing Held 12-4-17)

Body
The Council of the City of Pittsburgh hereby enacts as follows:

Section 1.

The Pittsburgh Code is hereby amended at Title Two: Fiscal, Article I: Administration, Chapter 202: Debt Management Policy as follows:

CHAPTER 202: - DEBT MANAGEMENT POLICY
? 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) EMMA - Electronic Municipal Market Access.
(d) GFOA - Government Finance Officers Association.
(e) LGUDA - Local Government Unit Debt Act, 53 Pa. C.S. ? 8001 et seq.
(f) MSRB - Municipal Securities Rulemaking Board.
(g) SEC - Federal Securities and Exchange Commission.
(h) TIC - True Interest Cost.
(i) TRAN - Tax or Revenue Anticipation Notes.
(j) URA - The Urban Redevelopment Authority of the City of Pittsburgh.

? 202.02 - [Financial] MUNICIPAL ADVISOR.
(a) City Council shall have the ability to enter into a contract with a [certified Financial Advisor] 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 [Financial] 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 applicable law.

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