Pennsylvania § 2426 Bond issue and limitations

Pennsylvania Statutes

§ 2426 — Bond issue and limitations

Pennsylvania·Title 8 BOROUGHS AND INCORPORATED TOWNS·Part PART I·Ch. 24 WATER SYSTEM·Subch. ACQUISITION BY PURCHASE AFTER APPRAISEMENT

(a)Bond issue.--For the purpose of purchasing a water system, the borough may issue utility bonds in the manner provided by 53 Pa.C.S. Pt. VII Subpt. B (relating to indebtedness and borrowing).

(b)Limitations.--The bonds shall not exceed in amount the value fixed by the appraisers or the court of common pleas. The proceeds of the sale of the bonds shall be used exclusively for the purpose of paying for the property acquired.

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(a) Bond issue.--For the purpose of purchasing a water system, the borough may issue utility bonds in the manner provided by 53 Pa.C.S. Pt. VII Subpt. B (relating to indebtedness and borrowing).

(b) Limitations.--The bonds shall not exceed in amount the value fixed by the appraisers or the court of common pleas. The proceeds of the sale of the bonds shall be used exclusively for the purpose of paying for the property acquired.

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