Summary
This document provides the legal framework for issuing bonds under the Pennsylvania Intergovernmental Cooperation Authority Act for Cities of the First Class, which enables PICA to offer financial assistance to Philadelphia. It includes granting clauses, definitions, covenants, and mechanisms for the issuance, redemption, and payment of bonds. The indenture defines pledged revenues, including taxes used as security for bondholders. The document also establishes various funds such as the Debt Service Fund, Debt Service Reserve Fund, and Rebate Fund to manage bond proceeds and repayments. The terms for issuing additional bonds, compliance with tax regulations, and default remedies are also covered. Finally, it sets forth legal provisions for enforcement, trustee responsibilities, and termination of the indenture upon full repayment of obligations.