53 Pa. Stat. § 15569

Current through Pa Acts 2024-53, 2024-56 through 2024-111
Section 15569 - Borrowing power; petition to common pleas

In all cases in which such city intends to pay the damages and compensation awarded from money to be borrowed, and in which the condition of its debt is such as to make necessary the deduction from its total indebtedness of the debt about to be incurred for that purpose, in calculating its borrowing capacity, before it shall actually enter upon, take, and appropriate properties, facilities, and franchises sought to be condemned hereunder, or tender or file its bond as hereinafter provided, the city shall first present its petition to the court of common pleas of the county in which such city is situated, praying for a determination, in the manner provided by law, whether the indebtedness about to be incurred is so deductible from its total debt in calculating its borrowing capacity. The final decision of the right of the city, in such cases, to deduct such indebtedness about to be incurred shall be a condition precedent to the consummation of the condemnation. Such petition shall be presented by the city to said court within three months after the final determination of the amount of compensation or damages for the taking of any or all of the properties, facilities, and franchises to be acquired hereunder, or within three months after the assent of the electors shall be given to the taking or condemnation thereof, as hereinabove provided. The proceedings required under this section eight may precede or follow those provided for in the foregoing section as the city may determine.

53 P.S. § 15569

1927, May 3, P.L. 508, § 8.