Pennsylvania § 8143 Disposition of proceeds notwithstanding certain limitations

Pennsylvania Statutes

§ 8143 — Disposition of proceeds notwithstanding certain limitations

Pennsylvania § 8143

JurisdictionPennsylvania

Title 53MUNICIPALITIES GENERALLY

PartPART VII

Ch. 81INCURRING DEBT AND ISSUING BONDS AND NOTES

Subch.PROVISIONS OF BONDS AND NOTES

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Bluebook

53 Pa. Cons. Stat. § 8143 (2026).

Text

A local government unit which issues bonds or notes to fund an unfunded actuarial accrued liability shall contribute to the applicable pension trust fund the proceeds of the bonds or notes, after deduction of costs of issuance, underwriter's discount and original issue discount, notwithstanding that the contribution may exceed a limitation on contributions to retirement systems, pension plans or pension trust funds otherwise applicable to the local government unit.

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A local government unit which issues bonds or notes to fund an unfunded actuarial accrued liability shall contribute to the applicable pension trust fund the proceeds of the bonds or notes, after deduction of costs of issuance, underwriter's discount and original issue discount, notwithstanding that the contribution may exceed a limitation on contributions to retirement systems, pension plans or pension trust funds otherwise applicable to the local government unit.