Pennsylvania § 8246 Procedure for authorization, sale, issue and approval of refunding bonds or notes

Pennsylvania Statutes

§ 8246 — Procedure for authorization, sale, issue and approval of refunding bonds or notes

Pennsylvania § 8246

JurisdictionPennsylvania

Title 53MUNICIPALITIES GENERALLY

PartPART VII

Ch. 82MISCELLANEOUS PROVISIONS

Subch.REFUNDING OF DEBT

This text of Pennsylvania § 8246 (Procedure for authorization, sale, issue and approval of refunding bonds or notes) 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

53 Pa. Cons. Stat. § 8246 (2026).

Text

Bonds or notes issued for refunding purposes shall be authorized, issued, sold, approved and settled and refunding of lease rental debt shall be authorized and approved in the manner provided in this subpart for the authorization, issue, sale and approval of the original debt, subject to any additional limitations provided in this subchapter. No refunding bonds or notes shall be delivered to the purchasers thereof unless, simultaneously therewith, the notes or bonds being refunded become no longer outstanding in accordance with section 8250 (relating to use of proceeds of refunding bonds and when refunded bonds are no longer deemed outstanding). No adjustment in lease rentals shall be made unless appropriate provision for the retirement of the outstanding lease rental debt has been made.

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Bonds or notes issued for refunding purposes shall be authorized, issued, sold, approved and settled and refunding of lease rental debt shall be authorized and approved in the manner provided in this subpart for the authorization, issue, sale and approval of the original debt, subject to any additional limitations provided in this subchapter. No refunding bonds or notes shall be delivered to the purchasers thereof unless, simultaneously therewith, the notes or bonds being refunded become no longer outstanding in accordance with section 8250 (relating to use of proceeds of refunding bonds and when refunded bonds are no longer deemed outstanding). No adjustment in lease rentals shall be made unless appropriate provision for the retirement of the outstanding lease rental debt has been made.