53 Pa. Stat. § 12720.104
The following words and phrases when used in this act shall have the meanings given to them in this section unless the context clearly indicates otherwise:
"Assisted city." A city of the first class which receives assistance, including oversight or consultation, from the Pennsylvania Intergovernmental Cooperation Authority created by this act.
"Authority." The Pennsylvania Intergovernmental Cooperation Authority established in this act.
"Board." The governing board of the Pennsylvania Intergovernmental Cooperation Authority.
"Bond." A note, bond, refunding note and bond, interim certificate, debenture and other evidence of indebtedness or obligation which an authority is authorized to issue pursuant to this act.
"Bond payment account." A trust fund held exclusively for the equal and ratable benefit of the holders of bonds of the Pennsylvania Intergovernmental Cooperation Authority, as described in section 314(a) and (b).
"Cash flow deficit." A cash deficit occurring solely because revenues and expenditures, even when in balance on a fiscal year basis, are not received and disbursed at equivalent rates throughout the fiscal year.
"City." A city of the first class.
"City account." A trust fund held for the exclusive benefit of an assisted city as described in section 314(c).
"Corporate entity." An authority or other corporate entity of which one or more of the members of its governing board is appointed by the mayor of a city and which performs governmental functions for a city.
"Debt service reserve fund." A fund which may be created by the authority and which shall be used, when required, solely for the payment of the principal of bonds secured in whole or in part by such fund, or of the sinking fund payments, if any, with respect to such bonds, the purchase or redemption of such bonds, the payment of interest on such bonds or the payment of any redemption premium required to be paid when such bonds and notes are redeemed prior to maturity, as described in section 313.
"Deficit." Such negative fund balance in any principal operating fund or funds of a city existing or projected to exist as of the close of a fiscal year, as may be more specifically identified, calculated and set forth in an intergovernmental cooperation agreement or financial plan of an assisted city described in section 209.
"Federal agency." The United States of America, the President of the United States of America and any department or corporation, agency or instrumentality heretofore or hereafter created, designated or established by the United States of America.
"Financial ability to pay." Financial ability to pay shall mean the reasonable likelihood that the assisted city will receive funds sufficient to pay the cost of any increase in wages or fringe benefits without requiring an increase in the rates of local taxation existing in the fiscal year immediately preceding the fiscal year when such increase is intended to take effect and without causing an adverse effect on the levels of service in the fiscal year when such increase is intended to take effect.
"Governing body." The legislative body of a city.
"Government agency." The Governor, departments, boards, commissions, authorities and other officers and agencies of State government, including those which are not subject to the policy supervision and control of the Governor, any political subdivision, municipal or other local authority, and any officer or agency of any such political subdivision or local authority, but the term does not include any court or other officer or agency of the unified judicial system or the General Assembly or its officers and agencies.
"Intergovernmental cooperation agreement." Any agreement made by the Pennsylvania Intergovernmental Cooperation Authority and a city under the provisions of section 203(d).
"Loan committee." The mayor, the city controller and city solicitor of a city of the first class.
"Net proceeds." The aggregate principal amount of any bonds issued by the Pennsylvania Intergovernmental Cooperation Authority reduced by any amount of such bonds constituting interest under the Internal Revenue Code of 1986 (Public law 99-514, 26 U.S.C. § 1 et seq.) or any successor or amendatory revenue act and further reduced by the portion of the aggregate principal amount of such bonds issued for any of the following purposes:
"Obligee of the authority." Any holder or owner of any bond of the Pennsylvania Intergovernmental Cooperation Authority or any trustee or other fiduciary for any such holder or any provider of a letter of credit, policy of municipal bond insurance or other credit enhancement or liquidity facility for bonds of the authority.
"Outstanding." With respect to bonds of the authority, shall mean all bonds of the authority issued from time to time except:
"Party officer." The following members or officers of any political party:
"Public official." Any elected or appointed official or employee in the executive, legislative or judicial branch of the Commonwealth or any political subdivision thereof, provided that it shall not include members of advisory boards that have no authority to expend public funds other than reimbursement for personal expense, or to otherwise exercise the power of the Commonwealth or any political subdivision thereof. The term "public official" shall not include any appointed official who receives no compensation other than reimbursement for actual expenses.
"Qualified majority." A majority of the governing board of the Pennsylvania Intergovernmental Cooperation Authority which includes any four voting members.
"School district." A school district of the first class.
"Tax anticipation notes" or "notes." Tax anticipation notes, revenue anticipation notes or tax and revenue anticipation notes authorized to be issued pursuant to Chapter 4 and designated as prescribed in section 401.
53 P.S. § 12720.104