53 Pa. Stat. § 11701.250

Current through P.A. Acts 2023-32

Section 11701.250 - Debt provisions

Adoption of a plan in accordance with this subchapter and Subchapter C.1 by ordinance is a condition precedent for the approval of long-term debt or funding debt under 53 Pa.C.S. Pt. VII Subpt. B (relating to indebtedness and borrowing). A debt financing provision of the plan may be waived by agreement of the lender and the municipality; but any such waiving must be expressly set forth in the indenture or contract securing the debt.

53 P.S. § 11701.250

1987, July 10, P.L. 246, No. 47, § 250, effective in 60 days. Amended 2014, Oct. 31, P.L. 2983, No. 199, § 17, effective in 60 days [Dec. 30, 2014].