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File #: 2019-1285    Version: 1
Type: Resolution Status: Passed Finally
File created: 1/11/2019 In control: Committee on Finance and Law
On agenda: 1/15/2019 Final action: 1/29/2019
Enactment date: 1/29/2019 Enactment #: 64
Effective date: 2/1/2019    
Title: Resolution to authorize and direct the incurring of Non-Electoral Debt through the issuance of a series of General Obligation Bonds of the City of Pittsburgh, in the maximum aggregate principal amount of Sixty-Two Million Four Hundred Thirty-Five Thousand and 00/100 Dollars ($62,435,000.00).
Indexes: BOND
Attachments: 1. 2019-1285, 2. Summary 2019-1285
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Resolution to authorize and direct the incurring of Non-Electoral Debt through the issuance of a series of General Obligation Bonds of the City of Pittsburgh, in the maximum aggregate principal amount of Sixty-Two Million Four Hundred Thirty-Five Thousand and 00/100 Dollars ($62,435,000.00).

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Be it resolved by the Council of the City of Pittsburgh as follows:

Section 1.

RESOLUTION TO AUTHORIZE AND DIRECT THE INCURRING OF NON-ELECTORAL DEBT THROUGH THE ISSUANCE OF ONE OR MORE SERIES OF GENERAL OBLIGATION BONDS (COLLECTIVELY, "BONDS") OF THE CITY OF PITTSBURGH, PENNSYLVANIA (THE "CITY") IN THE MAXIMUM AGGREGATE PRINCIPAL AMOUNT OF SIXTY-TWO MILLION FOUR HUNDRED THIRTY-FIVE THOUSAND AND 00/100 DOLLARS ($62,435,000.00) FOR THE PURPOSE OF PROVIDING FUNDS FOR AND TOWARD THE COSTS OF (I) FINANCING VARIOUS CAPITAL PROJECTS WITHIN THE CITY (THE "CAPITAL PROJECT"), AND (II) ISSUING AND INSURING, IF DESIRABLE, THE BONDS, OR ANY OR ALL OF THE SAME; STATING THAT REALISTIC COST ESTIMATES HAVE BEEN OBTAINED FOR THE CAPITAL PROJECT AND STATING THE ESTIMATED REALISTIC USEFUL LIFE THEREOF; DIRECTING THE PROPER OFFICERS OF THE LOCAL GOVERNMENT UNIT TO PREPARE, CERTIFY AND FILE THE REQUIRED DEBT STATEMENT AND BORROWING BASE CERTIFICATE; COVENANTING THAT THE LOCAL GOVERNMENT UNIT SHALL INCLUDE THE AMOUNT OF ANNUAL DEBT SERVICE IN ITS BUDGET FOR EACH FISCAL YEAR; FIXING THE FORM, INTEREST RATE, MATURITY, REDEMPTION AND OTHER PROVISIONS FOR THE PAYMENT OF THE BONDS; AUTHORIZING THE PROPER OFFICERS OF THE CITY TO CONTRACT WITH A BANK OR BANK AND TRUST COMPANY FOR ITS SERVICES AS SINKING FUND DEPOSITORY, PAYING AGENT AND REGISTRAR; PROVIDING FOR THE REGISTRATION, TRANSFER AND EXCHANGE OF BONDS; PROVIDING FOR THE EXECUTION, DELIVERY AND AUTHENTICATION OF BONDS AND THE DISPOSITION OF THE PROCEEDS THEREOF; APPROVING THE FORM OF THE BONDS, PAYING AGENT'S AUTHENTICATION CERTIFICATE AND ASSIGNMENT AND PROVIDING FOR CUSIP NUMBERS TO BE PRINTED ON THE BONDS; PROVIDING FOR TEMPO...

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