§ 7374 — Fire and Emergency Medical Services Loan Sinking Fund and investments

Pennsylvania § 7374

• Jurisdiction: Pennsylvania
• Title 35: HEALTH AND SAFETY
• Part: PART V
• Ch. 73: COMMONWEALTH SERVICES
• Subch.: FIRE AND EMERGENCY MEDICAL SERVICES

Text

All bonds issued under this subchapter shall be redeemed at maturity and all interest due from time to time on such bonds shall be paid from the Fire and Emergency Medical Services Loan Sinking Fund, which is hereby created. For the specific purpose of redeeming bonds issued under this subchapter at maturity and paying all interest thereon in accordance with the information received from the Governor, the General Assembly shall appropriate moneys to the Fire and Emergency Medical Services Loan Sinking Fund for the payment of interest on such bonds and the principal thereof at maturity. All moneys paid into the Fire and Emergency Medical Services Loan Sinking Fund and all of such moneys not necessary to pay accruing interest shall be invested by the Board of Finance and Revenue in such securities as are provided by law for the investment of the sinking funds of the Commonwealth.

Legislative History

(Oct. 29, 2020, P.L.739, No.91, eff. 60 days)