City of Pittsburgh - File #: 2011-2245

• File #: 2011-2245
• Version: 3
• Type: Ordinance
• Status: Passed Finally
• File created: 11/1/2011
• In control: Committee on Finance and Law
• Final action: 12/13/2011
• Enactment date: 12/13/2011
• Enactment #: 29
• Effective date: 12/14/2011
• Title: Ordinance supplementing the Pittsburgh City Code Title Two-Fiscal, Article I-Administration by adding Chapter 202-Debt Management Policy to ensure responsible issuance and management of City debt.
• Sponsors: William Peduto, Darlene M. Harris, Douglas Shields
• Indexes: PGH. CODE ORDINANCES TITLE 02 - FISCAL

Date	Ver.	Action By	Action	Result
12/19/2011	3	Mayor	Signed by the Mayor
12/13/2011	3	City Council	Passed Finally	Pass
12/7/2011	3	Standing Committee	Affirmatively Recommended as Amended	Pass
12/7/2011	3	Standing Committee	AMENDED BY SUBSTITUTE	Pass
11/21/2011	2	City Council	RECOMMITTED	Pass
11/21/2011	2	Standing Committee	Held in Committee	Pass
11/16/2011	2	Standing Committee	Affirmatively Recommended	Pass
11/10/2011	2	Standing Committee
11/10/2011	2	Standing Committee
11/1/2011	1	City Council	Read and referred

TITLE
Ordinance supplementing the Pittsburgh City Code Title Two-Fiscal, Article I-Administration by adding Chapter 202-Debt Management Policy to ensure responsible issuance and management of City debt.
BODY
Be it resolved by Council of the City of Pittsburgh as follows:

Section 1. The Pittsburgh City Code Title Two-Fiscal, Article I-Administration is hereby supplemented by adding Chapter 202-Debt Management Policy to ensure responsible issuance and management of City debt, 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 ADVISOR

(a) City Council shall have the ability to enter into a contract with a certified financial advisor when needed consistent with existing authority, who shall provide professional assistance and analysis of any prospective debt issue.


(b) The Council Financial 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.

§202.03 AUTHORITY, SCOPE AND OBJECTIVES

(a) Introduction

1. The City of Pittsburgh (the City) shall have the ability t...