53 Pa. Stat. § 12582

Current through Pa Acts 2024-53, 2024-56 through 2024-64

Section 12582 - Ordinance to provide for payment of interest and principal

In any ordinance authorizing the city to incur new debt or increase its indebtedness, except for temporary loans, the council shall provide or covenant to provide for the payment of the interest thereon and the principal thereof as is now or may hereafter be required by the Constitution, and any such ordinance shall state the purpose or purposes for which the new debt or increase of indebtedness is authorized.

53 P.S. § 12582

1919, June 25, P.L. 581, art. XVIII, § 2. Amended 1972, June 9, P.L. 394, No. 116, § 1, imd. effective.