Borough of Phoenixville, PA
Chester County
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Table of Contents
Table of Contents

§ B-101 Bond Issues and Loans.

Ord./Res.
Date
Description
8/7/1855
8/7/1855
For the improvement of the Borough of Phoenixville. This authorized a $4,000 loan, payable in 10 years. Section 4 of an ordinance of 11/6/1855 provided for redemption in 5 years.
5/9/1872
5/9/1872
To create a loan for the erection of water works and supplying the Borough of Phoenixville with water. The bond issue was for not more than $125,000. For supplements to this ordinance, see Ord. 11/12/1872, Ord. 1/8/1874 and Ord. 1/13/1875, below.
11/12/1872
11/12/1872
A supplement to an ordinance entitled "An ordinance to create a loan for the erection of water works and supplying the Borough of Phoenixville with water" passed 5/9/1872. For ordinance supplemented by this ordinance, see Ord. 5/9/1872 above. This ordinance increased the amount of the bond issue to $175,000, the proceeds to be used for the erection of water works, and any amount left over for construction of gas works.
1/8/1874
1/8/1874
A supplement to an ordinance approved 5/9/1872, entitled "A supplement to an ordinance approved 9/12/1872, entitled "An ordinance to borrow money for the erection of water works in the Borough of Phoenixville.' "For ordinance supplemented by this ordinance, see Ord. 11/12/1872 above. This ordinance increased the bond issue to $193,000, the additional amount to be used for the completion of the water works and appliances.
1/13/1875
1/13/1875
A supplement to an ordinance passed May 9th, 1872, entitled "An ordinance to create a loan for the erection of water works in the Borough of Phoenixville." For ordinance supplemented by this ordinance, see Ord. 5/9/1872 above. This ordinance increased the amount of the bond issue to $200,000.
9/21/1882
9/21/1882
To create a loan for the purpose of redeeming and paying off the Water Works Bonds of the Borough of Phoenixville.
2/7/1894
2/7/1894
Authorizing the Burgess of the Borough of Phoenixville to borrow money on the credit of said Borough to defray the expenses if improving the streets and highways thereof and for other purposes. The loan was not to exceed $5,000.
3/7/1894
3/7/1894
For the issue of $180,000 of bonds of the Borough of Phoenixville, for the purpose of redeeming the water bonds now outstanding.
8/25/1899
8/25/1899
For the issue of $169,000 of bond of the Borough of Phoenixville for the purpose of redeeming the water bonds now outstanding. For supplement to this ordinance, see Ord. 10/25/1899, below.
10/25/1899
10/25/1899
A supplement to the ordinance for issuing of $169,000 of bonds of the Borough of Phoenixville for the purpose of redeeming the water bonds now outstanding, enacted by the Burgess and Town Council of the Borough of Phoenixville, August 25, 1899. For ordinance supplemented, see Ord. 8/25/1899, above. This ordinance authorized issuance of the bonds and levy of a tax to pay the interest and principal.
1/11/1900
1/11/1900
Authorizing the holding of a public election to obtain the assent of the electors of the Borough of Phoenixville, in the County of Chester and State of Pennsylvania, to pay the existing indebtedness of said Borough and for that purpose, to issue bonds therefore in the sum of $190,000.
9/4/1906
9/4/1906
Providing for the purchase of real estate and the borrowing of money for sewer purposes. This authorized a loan of not more than $5,000 for the purpose of building a sewer on Fifth Avenue and on Main Street beginning at Fifth Avenue.
1/1/1907
1/1/1907
Providing for the borrowing of money for the construction of a sewer. This authorized a loan for not more than $3,000, for the construction of a sewer on Fifth Avenue, Gay Street and through private property.
10/7/1908
10/7/1908
Authorizing the increase of the bonded debt of the Burgess and Town Council of the Borough of Phoenixville, providing for an issue of municipal bonds therefore and levying a tax for the payment of the principal and interest thereof. This authorized a $50,000 bond issue, $20,000 of which was to be used for payment of floating debt, $30,000 for street improvements in the South Ward.
8/2/1910
8/2/1910
Authorizing an increase of indebtedness of $12,500 for the paving of East Bridge Street.
3/31/1914
3/31/1914
Authorizing the Burgess and Town Council of the Borough of Phoenixville to issue bonds for the purpose of redeeming and refunding the water bonds of the Borough of Phoenixville now outstanding. The bond issue was for $134,900.
9/7/1921
9/7/1921
To signify the desire of the Borough authorities to increase the indebtedness of the Burgess and Town Council of the Borough of Phoenixville in the sum of $100,000 by the issuance of certificates of indebtedness of the Borough of Phoenixville, and providing moneys for highway repairs and improvements and further providing for a special election to authorize the same.
9/6/1922
9/6/1922
To signify the desire of the Borough authorities to increase the indebtedness of the Burgess and Town Council of the Borough of Phoenixville in the sum of $150,000 by issuance of certificates of indebtedness of the Borough of Phoenixville, and providing moneys for highway repairs and improvements, and further providing for a special election to authorize the same.
4/10/1923
4/10/1923
Increasing the bonded indebtedness of the Burgess and Town Council of the Borough of Phoenixville, a municipal corporation, in the sum of $150,000 and providing for an issue of municipal bonds therefore and levying an annual sinking fund tax for the payment of the principal, interest and State tax thereon within 30 years. This authorizes the Funding and Highway Improvement Bonds of 1923.
9/10/1925
9/10/1925
To signify the desire of the Borough authorities to increase the indebtedness of the Burgess and Town Council of the Borough of Phoenixville, in the sum of $210,000, by the issuance of certificates of indebtedness for the purpose of providing moneys for repairs and improvements of the highways and waterworks and supply system of the Borough of Phoenixville, and further providing for a special election to authorize the same.
12/4/1930
12/4/1930
To authorize the officers of the Borough of Phoenixville to make a temporary loan not exceeding $35,000 of the Philadelphia National Bank under the provisions of the Act of May 8th, 1929, amending the Borough Act of 1927.
12/8/1931
12/8/1931
To authorize the officers of the Borough of Phoenixville to make a temporary loan not exceeding $50,000, of the Pennsylvania Company for Insurance on Lives and Granting Annuities, of Philadelphia, Pa., under the provisions of the Act of May 8th, 1929, P.L. 1636, amending the Borough Act of 1927.
11/9/1932
11/9/1932
To authorize the officers of the Borough of Phoenixville to make a temporary loan not exceeding $50,000, of the Pennsylvania Company for Insurance on Lives and Granting Annuities, of Philadelphia, Pa., under the provisions of the Act of May 8th 1929, P.L. 1636, amending the Borough Act of 1927.
11/9/1937
11/9/1937
To create and incur an increase of indebtedness of the Borough of Phoenixville, Chester County, Pennsylvania, in the sum of $155,000 for the purpose of providing funds for and toward the right of the Borough to assess property owners for a portion of the total cost thereof; to approve the form of bond and coupon; and to levy a tax for the payment of the principal of said bonds at maturity and the interest and State tax thereon meanwhile.
9/5/1950
9/5/1950
Signifying the desire of the Borough Council of the Borough of Phoenixville, Chester County, Pennsylvania, to make an increase of the debt of the said Borough of Phoenixville, in the sum of $475,000 for the purpose of providing funds for and toward the construction of a secondary sewage treatment plant for the Borough of Phoenixville; and calling an election for the purpose of obtaining to assent of the electors to said increase of debt.
12/19/1950
12/19/1950
To authorize and direct the issuance of general obligation bonds of the Borough of Phoenixville, Chester County, Pennsylvania, in the maximum amount of $475,000 for the purpose of providing funds for and toward the construction of a secondary sewage treatment plant for the Borough of Phoenixville; providing for the rate of interest on said bonds and fixing the maturity dates thereof; stating the estimated period of usefulness of the improvements for which said bonds are to be issued; approving the form of bond and coupon; providing for the assessment, levy and collection of a tax to pay the interest covenanted to be paid thereon and the principal thereof at maturity; establishing a sinking fund; directing the President and the Secretary of Borough Council to prepare, verify and file the required statement; and authorizing and directing the Secretary to certify and file with the Department of Internal Affairs certified copies of the necessary proceedings.
9/4/1956
9/4/1956
Signifying the desire of the Borough Council of the Borough of Phoenixville, Chester County, Pennsylvania, to make an increase in the debt of the said Borough of Phoenixville in the sum of $325,000 for the purpose of providing funds for and toward improvements to the Borough water treatment plant and distribution system; and calling an election for the purpose of obtaining the assent of the electors to said increase of debt.
4/22/1957
4/22/1957
To authorize and direct the issuance of general obligation bonds of the Borough of Phoenixville, Chester County, Pennsylvania, in the maximum amount to $325,000 for the purpose of providing funds for and toward improvements to the Borough water treatment plant and distribution system; providing for the rate of interest on said bonds and fixing the maturity dates thereof; stating the estimated period of usefulness of the improvements for which said bonds are to be issued; approving the form of bond and coupon; providing for the assessment, levy and collection of a tax to pay the interest covenanted to be paid thereon and the principal thereof at maturity; establishing a sinking fund; directing the President and the Secretary of Borough Council to prepare, verify and file the required statement; and authorizing and directing the Secretary to certify to and file with the Department of Internal Affairs certified copies of the necessary proceedings.
965
10/9/1963
Authorizing the issuance of $300,000 of general obligation bonds of the Borough of Phoenixville; providing for the form of said bonds, requiring coupons to be thereto annexed; levying an annual tax for the payment of principal and interest on said bonds; and containing further provisions in connection with bonds was to pay a portion of the cost of improvements to streets, sewers and water lines.
1075
9/17/1968
Authorizing the making of capital improvements to the water system of the Borough and the financing thereof by the issuance of $2,650,000 Borough of Phoenixville Water Revenue Bonds. Series of 1968; pledging the revenues of the water system for the payment of such bonds; providing for the disposition of the proceeds of such bonds and of the revenues of the water system; providing for the issuance of additional revenue bonds; setting forth covenants of the Borough in the fixing of rates and the operation of the water system and the benefit of the holders of such bonds.
1090
3/11/1969
Authorizing the making of capital improvements to the sewer system of the Borough and the financing of a major portion of the cost thereof by the issuance of $1,458,000 Borough of Phoenixville Sewer Revenue Bonds, Series of 1969; setting forth the form of bond and coupon; pledging the revenues of the sewer system for the payment of such bonds; providing for the disposition of the proceeds of such bonds and of the revenues of the sewer system; providing for the issuance of additional sewer revenue bonds; setting forth covenants of the Borough in the fixing of rates and the operation of the sewer system and for the benefit of the holders of such bonds.
1320
11/28/1977
Increasing the indebtedness of the Borough of Phoenixville, County of Chester, Pennsylvania, by the issue of general obligation note in the amount of $100,000 for sundry purposes; fixing the form, number, date, interest and maturity thereof; making a covenant for the payment of the debt service on the note; providing for the filing of the required document; providing for the appointment of a sinking fund depository for the note; and authorizing execution, sale and delivery thereof. The loan was for repayment to General Fund for sewer for sewer system improvements.
1329
4/11/1978
Increasing the indebtedness of the Borough of Phoenixville, County of Chester, Pennsylvania, by the issue of a general obligation note in the amount of $150,000 for sundry purposes; fixing the form, number, date, interest and maturity thereof; making a covenant for the payment of the debt service on the note; providing for the filing of the required document; providing for the appointment of a sinking fund depository for the note; and authorizing execution, sale and delivery thereof. The loan was for downtown business district improvements.
1370
10/9/1979
Increasing the indebtedness of the Borough of Phoenixville, County of Chester, Pennsylvania, by the issue of a general obligation note in the amount of $100,000 for sundry purposes; fixing the form, number, date, interest and maturity thereof; making a covenant for the payment of the debt service on the note; providing for the filing of the required document; providing for the appointment of a sinking fund depository for the note; and authorizing execution, sale and delivery thereof. The purpose of the loan was sewage treatment plant improvements.
1371; amended by 1439
11/8/1979; 4/13/1982
To authorize and direct the incurring of nonelectoral debt through the issuance of general obligation bonds of the Borough of Phoenixville, Chester County, Pennsylvania, in the maximum amount of $1,240,000 for the purpose of providing funds for and toward the construction of improvements to the existing water system, the construction and reconstruction of streets, the improvement of existing municipal parking lots, the acquisition and demolition of real and/or personal property for municipal parking lot purposes, the construction and reconstruction of capital facilities for public recreation purposes, engineering studies for the construction of, and repairs and improvements as aforementioned, and the cost of financing, or any or all of the same; stating the estimated useful lives of the projects for which the bonds are issued; directing the President and Secretary of the Borough Council to prepare, verify and file the required debt statement; covenanting that the Borough shall include the amount of annual debt service in its budget for each fiscal year; providing for coupon bonds, date of the bonds, interest payment dates and provision for redemption; covenant as to payment of principal and interest without deduction for certain taxes; providing for facsimile signatures and seal and authentication; approving the form of bond, coupon, paying agent's authentication certificate, endorsement and registration; providing for temporary bonds; providing for the stated principal maturity amounts and fixing the rates of interest on such bonds; awarding such bonds to C.C. Collings and Company, Inc. Philadelphia, Pennsylvania pursuant to a negotiated sale; creating a sinking fund; authorizing the proper officers of the Borough to contract with a bank for its services as sinking fund depository and paying agent; authorizing and directing the Secretary to certify and to file with the Department of Community Affairs certified copies of the necessary proceedings; covenanting that the proceeds of the bonds shall be used in such manner as to cause the bonds to become arbitrage bonds under Federal tax law provisions; authorizing the proper officers of the Borough to do all things necessary to carry out the ordinance; and repealing and describing all inconsistent ordinances.
1418
8/11/1981
To authorize and direct the incurring of nonelectoral debt through the issuance of a general obligation term loan note of the Borough of Phoenixville, Chester County, Pennsylvania, in the maximum principal amount of $38,184 for the purpose of providing funds for and toward the improvement of the Borough's water distribution system in Upper Providence Township, Montgomery County, and the costs relating to the issuance of such note; which said note is issued; directing the President and Secretary of the Borough Council of Phoenixville to prepare, certify and fill the required debt statement; that the covenanting shall include the amount of annual debt service in its budget for each fiscal year; providing for a fully registered note, denomination. Principal and interest payment dates and provisions for prepayment of the note; stating that the note shall be payable without deduction for taxes; providing for the method of executing the note; approving the form of a sinking; authorizing the proper officers of the Borough of Phoenixville to contract with a bank for its services as sinking fund depository and paying agent; authorizing and directing the Secretary to certify and to file with the Department of Community Affairs certified copies of the necessary proceedings; covenanting that the proceeds of the note shall not be used in such manner as to cause the note to be an arbitrage bond under Federal tax law provisions; authorizing proper officers of the Borough of Phoenixville to do all things necessary to carry out this ordinance; and repealing all inconsistent ordinances.
1419
11/10/1981
Increasing the indebtedness of the Borough of Phoenixville, County of Chester, Pennsylvania, by the issue of a general obligation note in the amount of $130,000 for sundry purposes; fixing the form, number, date, interest and maturity thereof; making a covenant for payment of the debt service of the note; providing for the filing of the required document; and authorizing of execution, sale and delivery thereof.
1430
12/15/1981
Increasing the indebtedness of the Borough of Phoenixville, Chester County, Pennsylvania, by the issue of general obligation notes in the amount of $500,000 for improvements to the Mont Clare, Upper Providence Township, Montgomery County portion of the Phoenixville water distribution system and to other portions of said system; fixing the form, number, date, interest and maturity thereof; making a covenant for the payment of the debt service on the notes; providing for the filing of the required documents; providing for the appointment of a sinking fund depository for the notes; and authorizing execution, sale and delivery thereof.
1452
9/14/1982
Extending the indebtedness of the Borough of Phoenixville, County of Chester, Pennsylvania, by the issue of a general obligation note in the amount of $104,000 for sundry purposes; fixing the form, number, date, interest and maturity thereof; making a covenant for the payment of the debt service on the note; providing for the filing of the required documents and authorizing execution, sale and delivery thereof. (See Ord. 1457 below)
1457
11/9/1982
Amending Ord. 1452 (which ordinance approved a general obligation note for $104,000) by lowering the prime interest rate ceiling used in computing interest on the said loan.
1499
12/11/1984
Increasing the nonelectoral debt of the Borough of Phoenixville, County of Chester, Pennsylvania, by the issuance of a general obligation term loan note in the amount of $75,000 for the purpose of providing funds for and toward the construction of a parking lot at the northeast corner of the intersection of Bridge and Main.
1517
8/13/1985
Authorizing the increase of the nonelectoral debt of the Borough of Phoenixville, County of Chester, Pennsylvania, by the Issuance of a Guaranteed Revenue Note in the amount of $250,000 for the purpose of providing funds for and toward the cost of constructing or rehabilitating a community waters supply system consisting of abandoning a 6 inch water line on Nutt Road, in the Borough and reconnecting cross streets, hydrants and individual services to a 12 inch transmission water line, and the costs relating to the issuance of such note.
1546
7/1/1987
Authorizing this local government unit to incur Lease Rental Debt in the maximum aggregate principal amount of $870,000, determining that such debt shall be incurred as guaranteed lease rental debt pursuant to the Local Government Unit Debt Act of the Commonwealth of Pennsylvania by obtaining financing for a project from the Pennsylvania Pooled Finance Authority from proceeds of the sale of its adjustable rate convertible guaranteed lease revenue bonds (Municipality Capital Improvements Program) Series 1986 A and Series 1986 B.
1565
7/5/1988
Authorizing this local government unit to incur Lease Rental Debt in the maximum aggregate principal amount of $705,000, determining that such debt shall be incurred as guaranteed lease rental debt pursuant to the Local Government Unit Debt Act of the Commonwealth of Pennsylvania by obtaining financing for a project from the Pennsylvania Pooled Finance Authority from proceeds of the sale of its adjustable rate convertible guaranteed lease revenue bonds (Municipality Capital Improvements Program) Series 1986 A and Series 1986 B.
1573
10/11/1988
Increasing the nonelectoral debt of the Borough of Phoenixville, County of Chester Pennsylvania, by the Issuance of a Guaranteed Revenue note in the principal amount of $187,000, pursuant to the Local Government Unit Debt Act of the Commonwealth of Pennsylvania, for the purpose of providing funds for financing road improvements, demolishing a municipal building and certain related capital projects in and for the Maker ('Project') and paying the costs related to the issuance of the note.
1587
4/11/1989
Increasing the nonelectoral debt of the Borough of Phoenixville, County of Chester, Pennsylvania by the issuance of a general obligation promissory note in the amount of $588,654 for the purpose if capital projects.
1619
2/13/1990
Increasing the indebtedness of the Borough by the issuance of a guaranteed revenue note in the amount of $525,303.50 for the purpose of making improvements to a certain water system.
1620
2/27/1990
Increasing the nonelectoral debt of the Borough through the issuance of a bond anticipation note in the anticipation of the issuance of the long term general obligation note in the amount of $2,000,000 for the purpose of making improvements to the water and sewer systems.
1632
10/4/1990
Increasing the nonelectoral debt by the issuance of general obligation bonds in the amounts of $1,715,000 and $3,498,959.20 for the purposes of purchasing a new fire truck and making improvements to the water system.
1656
12/3/1991
Increasing the nonelectoral debt through the issuance of Borough of Phoenixville General Obligation Notes in the amount of $630,000 for sundry purposes.
1695
3/3/1993
Authorizing and directing the incurring of nonelectoral debt through the issuance of general obligation bonds, series 1993, in the principal amount of $4,645,000 for the purpose of providing funds for and toward multiple purposes.
1707
9/1/1993
Authorizing and directing issuance of general obligation bonds, Series B of 1993 in the aggregate principal amount of $1,370,000 pursuant to the Local Government Unit Debt Act of the Commonwealth of Pennsylvania for the purpose of prepaying outstanding sublease obligations of the Borough, together with issuance costs; determining that said bonds shall be sold at private sale by negotiation; determining that such debt to be incurred shall be nonelectoral debt; specifying the estimated useful life of the project; accepting a proposal for such purpose of said bonds at private sale, and awarding such bonds and setting forth related provisions; providing that such bonds when issued shall be general obligation bonds.
1714
12/7/1993
Declaring the refunding of the Borough's water revenue bonds, series of 1968 and sewer revenue bonds, series of 1969, in advance of their respective maturities, as a project for which the Borough desires to incur nonelectoral debt; declaring the remaining realistic estimated useful lives of the projects for which the 1968 bonds and the 1969 bonds were issued; authorizing the incurring of nonelectoral debt by the Borough for the purpose of providing funds for and toward effecting the refunding of the Borough's 1968 bonds and 1969 bonds; determining the amount of debt to be incurred in respect of said project as $2,675,000; providing for the evidencing of such debt in respect of such project by an issue of general obligation bonds.
1739
10/11/1994
Authorizing the nonelectoral debt by the Borough of Phoenixville pursuant to the issuance of the series of 1994 general obligation note in the par amount of $745,000 and approving certain capital projects; approves the negotiated sale of the 1994 note to The Delaware Valley Regional Finance Authority; approving the substantial form of the promissory note and financing agreement and authorizing execution and delivery of all necessary documents.
1935
2/5/2002
Authorizing the incurrence of nonelectoral debt by the Borough of Phoenixville pursuant to the issuance of the general obligation note, Series of 2002 in the aggregate par amount of $1,562,000 and approving certain capital projects; approving the negotiated sale of the 2002 note to The Delaware Valley Regional Finance Authority; approving the substantial forms of the promissory note and loan agreement and authorizing execution and delivery of all necessary documents.
1974
4/15/2003
Authorizing and directing the incurrence of nonelectoral debt of the Borough of Phoenixville, Chester County, Pennsylvania, through the issuance of a series of general obligation bonds in the aggregate principal amount of $12,000,000 to finance improvements to the Borough's water and sewer mains, pumping stations and sewage treatment plant, and for planning, revitalization, economic development, streets, roads and traffic signals, (the "Capital Program") and to pay the costs of issuing and insuring the bonds or any or all of the same; directing the proper officials to prepare, certify and file the required debt statement and borrowing base certificate.
2148
9/8/2009
Authorizing the Borough to incur lease rental debt in the maximum principal amount of $100,000 by guarantying the note of the Phoenixville Parking Authority, to the maximum principal amount, for the purpose of funding capital projects and paying costs related to project operations, approving the form of the guaranty and authorizing other necessary and property actions.
2192
1/10/2011
Authorizing the Borough to incur electoral debt by the issuance of general obligation bonds, Series of 2012, in the aggregate principal amount of $22,515,000 for the purpose of providing funds to finance various capital projects, advance refunding the Borough's general obligation bonds, Series of 2003, and to pay the cost of issuing the bonds; authorizing the preparation of a debt statement and other documentation; providing for the advance refunding of the debt being refunded and authorizing an escrow agreement for such purpose; covenanting to create a sinking fund and to budget, appropriate and pay debt service on the bonds; pledging the full faith, credit and taxing power of the Borough for the prompt and full payment of the bonds, setting forth the substantial form of the bonds, setting forth the stated principal maturity or sinking fund redemption dates and amounts, interest rates and interest payment dates, place of payment, sinking fund provisions and other details of the bonds; authorizing the execution of a paying agent agreement and a continuing disclosure agreement or supplement; finding that a private invited sale of the bonds is in the best financial interest of the Borough and accepting a proposal for the purchase of the bonds; appointing a paying agent and sinking fund depository; and authorizing other necessary action