The Sinking Fund Commission redeems bonds that have matured or been called. It also redeems some bonds that have been lost, stolen, or destroyed.
This process applies to bonds issued by:
- City of Philadelphia General Obligations.
- Philadelphia Gas Works.
- Philadelphia Water Department.
- Philadelphia International Airport.
- Philadelphia Municipal Authority.
If your bonds have matured or been called, you’ll need to mail the bonds to the appropriate party.
Contact the Sinking Fund Commission. The executive director will tell you whether the funds are held by the City or the trustee of the bond issue. If the trustee holds your bond’s funds, the executive director will tell you where to send your bonds.
You can contact the executive director at (215) 686-3811 or firstname.lastname@example.org.
You’ll need to send the original bonds for redemption.
Use a method with tracking to mail or deliver the bonds to the appropriate party. If the funds are held by the trustee, use the mailing address provided by the executive director. If the funds are held by the City, mail your bonds to:
Mr. Matthew Bowman
Executive Director, Sinking Fund Commission
1401 John F. Kennedy Blvd., Room 640
Philadelphia, PA 19102
Replacing outstanding bonds
If your bonds have been lost, stolen, or destroyed, they can be replaced.
If your lost bonds are still outstanding, contact the trustee to replace lost, stolen, or destroyed bonds that have not matured or been called. The trustee will tell you how to replace your bonds.
Replacing your matured bonds
To replace lost, stolen, or destroyed bonds that have matured or been called, follow the process below.
Download the request form and affidavit. Fill out both documents entirely.
The bond of indemnity must be for the value of the bonds and interest. It must be from a reputable insurance company rated A-VII or better by A.M. Best & Company. It must be an open penalty indemnity bond, and it must indemnify the City of Philadelphia.
You’ll need to provide copies of any documentation that support your claim that you own the bonds. You’ll also need to provide a form of identification.
Send the notarized request form, notarized affidavit, bond of indemnity, form of identification, and all other supporting documentation to the executive director of the Sinking Fund Commission. You can fax this information to (215) 686-3815 or email email@example.com.