§ 8123 — Maturity date and time of payment of interest

Pennsylvania § 8123

• Jurisdiction: Pennsylvania
• Title 53: MUNICIPALITIES GENERALLY
• Part: PART VII
• Ch. 81: INCURRING DEBT AND ISSUING BONDS AND NOTES
• Subch.: TAX ANTICIPATION NOTES AND FUNDING DEBT

Text

No tax anticipation notes shall be stated to mature beyond the last day of the fiscal year in which the tax anticipation notes are issued. Interest on tax anticipation notes from the date thereof shall be payable at the maturity of the notes or payable in installments at such earlier dates and at such annual rate or rates determined by the governing body of the local government unit.

Legislative History

Cross References.Section 8123 is referred to in section 8124 of this title.