HB 1148, PN2160: The legislation amends Title 53 (Municipalities Generally) to permit local government units to enter into and negotiate qualified interest rate management agreements, also known as “swaps.”  These agreements must be authorized and awarded by resolution of the local government unit.  Local governments that have been declared distressed by DCED are prohibited from entering into a swap or other type of interest rate management agreement.  A 45-0 vote was recorded. 

NON-PREFERRED APPROPRIATION BILLHB 1376, PN2328: There was also a motion to reconsider the vote by which the following bill failed the necessary two-thirds passage on July 28, 2003.  A 45-0 vote on the motion was recorded and the bill will be placed on the next day’s calendar for a reconsideration vote.

The legislation appropriates $164,941,000 to Temple University for the 2003-04 fiscal year.