Pennsylvania § 14991 Management of sinking funds

Pennsylvania Statutes

§ 14991 — Management of sinking funds

Pennsylvania § 14991

JurisdictionPennsylvania

Title 16COUNTIES

PartPART IV

Ch. 149FISCAL AFFAIRS

Subch.SINKING FUND COMMISSION

This text of Pennsylvania § 14991 (Management of sinking funds) is published on Counsel Stack Legal Research, covering Pennsylvania primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

16 Pa. Cons. Stat. § 14991 (2026).

Text

(a)Income.--The sinking fund commission shall annually apply the interest received on sinking fund deposits, the interest received on bonds held in the sinking fund and all other income, if any, from the sinking fund for the purpose of reducing the amount of money required to be paid by the county for sinking fund purposes for the following year, unless the income is necessary to pay the bonds of the county as the bonds mature and become payable. The income and the amount required to be paid by the county for sinking fund purposes shall annually equal the full amount required to be paid for sinking fund purposes to the several sinking funds.

(b)Sale of bonds.--The sinking fund commission may, whenever the commission deems necessary and for the best interest of the several sinking funds,

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(a) Income.--The sinking fund commission shall annually apply the interest received on sinking fund deposits, the interest received on bonds held in the sinking fund and all other income, if any, from the sinking fund for the purpose of reducing the amount of money required to be paid by the county for sinking fund purposes for the following year, unless the income is necessary to pay the bonds of the county as the bonds mature and become payable. The income and the amount required to be paid by the county for sinking fund purposes shall annually equal the full amount required to be paid for sinking fund purposes to the several sinking funds.

(b) Sale of bonds.--The sinking fund commission may, whenever the commission deems necessary and for the best interest of the several sinking funds, sell any bonds held by the commission other than bonds of the county itself.