Pennsylvania § 14992 Bonds of county held by commission

Pennsylvania Statutes

§ 14992 — Bonds of county held by commission

Pennsylvania § 14992

JurisdictionPennsylvania

Title 16COUNTIES

PartPART IV

Ch. 149FISCAL AFFAIRS

Subch.SINKING FUND COMMISSION

This text of Pennsylvania § 14992 (Bonds of county held by commission) 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. § 14992 (2026).

Text

(a)Bonds generally.--The bonds of the county held by the sinking fund commission shall be stamped in a conspicuous manner to show that the bonds have been purchased for the sinking fund. The bonds may not be reissued or sold.

(b)Interest.--The sinking fund commission may not require the county to pay interest on any of the bonds held by the commission, unless the commission deems the payment of interest necessary for the purpose of having adequate money on hand to pay the bonds of the county as the bonds mature and become payable.

(c)Cancellation of bonds.--The bonds of the county held by the sinking fund commission shall be canceled immediately upon maturity.

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(a) Bonds generally.--The bonds of the county held by the sinking fund commission shall be stamped in a conspicuous manner to show that the bonds have been purchased for the sinking fund. The bonds may not be reissued or sold.

(b) Interest.--The sinking fund commission may not require the county to pay interest on any of the bonds held by the commission, unless the commission deems the payment of interest necessary for the purpose of having adequate money on hand to pay the bonds of the county as the bonds mature and become payable.

(c) Cancellation of bonds.--The bonds of the county held by the sinking fund commission shall be canceled immediately upon maturity.