reglab/housing_qa huggingface dataset:
53 PA Cons Stat § 8143 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 81 - Incurring Debt and Issuing Bonds and Notes|Section 8143 - Disposition of proceeds notwithstanding certain limitations

§ 8143. Disposition of proceeds notwithstanding certain limitations.  A local government unit which issues bonds or notes to fund an unfunded actuarial accrued liability shall contribute to the applicable pension trust fund the proceeds of the bonds or notes, after deduction of costs of issuance, underwriter's discount and original issue discount, notwithstanding that the contribution may exceed a limitation on contributions to retirement systems, pension plans or pension trust funds otherwise applicable to the local government unit.
53 PA Cons Stat § 8144 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 81 - Incurring Debt and Issuing Bonds and Notes|Section 8144 - Number of interest rates

§ 8144. Number of interest rates.  A series of bonds or notes may have any number of interest rates or yields, subject to any limitation on such number fixed by the governing body of the issuing local government unit, but, unless further limited by the issuing local government unit in the official notice of sale, no yield for any stated maturity date in the last two-thirds of the period of the series may be less than that stated for the immediately preceding year which falls within the last two-thirds period.  (Sept. 24, 2003, P.L.110, No.23, eff. imd.)
53 PA Cons Stat § 8145 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 81 - Incurring Debt and Issuing Bonds and Notes|Section 8145 - Place and medium of payment

§ 8145. Place and medium of payment.  Bonds or notes shall be payable in such coin or currency as at the respective dates of payment thereof shall be legal tender for the payment of public and private debts at the place or places of payment. Both principal and interest shall be payable at the place or places determined by the local government unit. If more than one place of payment is specified, one or more of the additional places of payment may be outside of this Commonwealth or outside of the United States.
53 PA Cons Stat § 8146 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 81 - Incurring Debt and Issuing Bonds and Notes|Section 8146 - Execution of bonds or notes

§ 8146. Execution of bonds or notes.  Bonds or notes, including tax anticipation notes, shall be signed by such officers of the local government unit, and coupon bonds shall have attached thereto interest coupons bearing the facsimile signature of such officer of the local government unit, and the bonds or notes may be sealed with the seal of the local government unit or a facsimile thereof, all as may be determined by the governing body. Bonds or notes may provide that they are not valid or enforceable unless authenticated by a specified bank, bank and trust company or trust company. If any one signature on a bond or note, including the signature of the authenticating party, is manual, all other signatures may be by facsimile. If any officer whose signature or a facsimile of whose signature appears on any notes, bonds or coupons ceases to be such officer before the delivery of the notes or bonds, the signature or the facsimile shall nevertheless be valid and sufficient for all purposes as if he had remained in office until delivery. Any note, bond or coupon may bear the facsimile signature of or may be signed by those persons as at the actual time of the execution of the note, bond or coupon were the proper officers to sign although at the date of the instrument these persons may not be such officers.
53 PA Cons Stat § 8147 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 81 - Incurring Debt and Issuing Bonds and Notes|Section 8147 - Pledge of revenues

§ 8147. Pledge of revenues.  The governing body of any local government unit which has determined to issue any revenue bonds or notes or any guaranteed revenue bonds or notes may provide by ordinance for such pledges of or priorities in such rentals, revenues, receipts, rates and charges to be received from projects of the issuing local government unit as may be desirable. The pledge or priority shall be perfected as a security interest against all creditors of the local government unit and all third parties, in accordance with the terms of the ordinance, from and after the filing of a financing statement or statements in accordance with Title 13 (relating to commercial code). For the purpose of filing, the sinking fund depository may act as representative of the bond or note holders and, in that capacity, execute and file the financing statement and any continuation or termination statements as secured party.    Cross References. Section 8147 is referred to in sections 8103, 8105, 8282 of this title.
53 PA Cons Stat § 8149 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 81 - Incurring Debt and Issuing Bonds and Notes|Section 8149 - Negotiable qualities of bonds and notes

§ 8149. Negotiable qualities of bonds and notes.   (a) Securities.--Bonds or notes issued pursuant to this subpart, including tax anticipation notes, which have all the qualities and incidents of securities under Title 13 (relating to commercial code), shall be negotiable instruments.  (b) Commercial paper.--Such bonds and notes issued pursuant to this subpart which are not securities shall have all the qualities and incidents of commercial paper under Title 13 and shall be negotiable instruments notwithstanding any references in them to the terms of the authorizing bond ordinance or any trust indenture, deed of trust or other agreement, or any variations in the rate of interest provided in the note, or any limitation upon the funds from which or limitations as to the bonds with which the notes may be paid or any restriction upon the remedies of the holders.
53 PA Cons Stat § 8150 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 81 - Incurring Debt and Issuing Bonds and Notes|Section 8150 - Temporary bonds or notes or interim receipts

§ 8150. Temporary bonds or notes or interim receipts.  Pending the preparation of definitive bonds or notes, including tax anticipation notes, temporary bonds or notes or interim receipts may be issued in such form and containing such terms and such provisions for exchange for definitive bonds or notes as the local government unit may determine.
53 PA Cons Stat § 8161 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 81 - Incurring Debt and Issuing Bonds and Notes|Section 8161 - Manner of sale of bonds or notes

§ 8161. Manner of sale of bonds or notes.   (a) General rule.--Except as otherwise specifically provided in this subpart and subject to subsection (b), bonds or notes may be sold at public or private sale by negotiation or upon invitation and at the price the governing body of the issuing local government unit shall determine. Before making any private sale by negotiation of bonds or notes, the governing body shall adopt a resolution finding that a private sale by negotiation is in the best financial interest of the local government unit. Bonds or notes may be conditionally sold before the final details of the series are fixed.  (b) Public sale.--Bonds or notes, if sold at public sale, shall be sold to the highest responsible bidder or bidders after one public notice by advertisement of either the official notice of sale, or of the availability of the official notice of sale, in at least one and not more than two newspapers of general circulation in the county in which the local government unit is located. The advertisement may also be published in a financial journal circulating among the underwriters of securities. Advertisements shall be published not less than ten nor more than 30 days prior to the date fixed for opening proposals and need not appear on the same date nor successively in each newspaper or journal.
53 PA Cons Stat § 8163 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 81 - Incurring Debt and Issuing Bonds and Notes|Section 8163 - Proposals for purchase

§ 8163. Proposals for purchase.  Every bid or proposal for bonds or notes shall be in writing, shall be properly executed and, in the case of public sale, shall be placed in a sealed envelope sufficiently labeled to indicate that it is a bid or proposal for the bonds or notes being sold, before being delivered to the officer designated to receive it or to an authorized delegate.
53 PA Cons Stat § 8164 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 81 - Incurring Debt and Issuing Bonds and Notes|Section 8164 - Opening of bids

§ 8164. Opening of bids.  In the case of public sale, at the time and place fixed in the notice, the bids or proposal received shall be publicly opened by the designated officer or his authorized delegate and publicly read aloud unless the governing body determines to return all bids unopened.
53 PA Cons Stat § 8165 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 81 - Incurring Debt and Issuing Bonds and Notes|Section 8165 - Determination of highest and best bid

§ 8165. Determination of highest and best bid.   (a) General rule.--The highest responsible bidder shall be the one who, having complied with the terms of the official notice of sale, offers to take all of the bonds or notes or any separate lot thereof on which separate bids may be made at the lowest net interest cost to the local government unit, or, if required by the terms of any agreement with the Federal Government or the Commonwealth or any agency of either of them, the highest responsible bidder shall be the one bidding in conformity with the requirements for the successful bidder stipulated in the agreement. The net interest cost shall be computed in accordance with section 8169 (relating to determination of net interest cost and net interest rate).  (b) Tie bids.--If two or more proposals are found to be the highest and best bids on identical terms conforming to the offering, the bonds or notes shall with the consent of the bidders be awarded to them jointly or absent such consent may be awarded to any one of the bidders selected by lot in any manner deemed fair by the local government unit.
53 PA Cons Stat § 8166 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 81 - Incurring Debt and Issuing Bonds and Notes|Section 8166 - Required bid security

§ 8166. Required bid security.  In the case of public sale, bid security shall be given by each bidder, shall be in cash or by certified or official bank check payable to the local government unit and shall be not less than 2% of the principal amount of the bonds or notes to be purchased. The bid security of the unsuccessful bidder or bidders shall be returned to each unsuccessful bidder, without interest, in accordance with written instructions of the bidder conforming to the official notice of sale, promptly upon an award of the bonds or notes or upon the rejection of all bids. The bid security of the successful bidder shall be retained by the treasurer of the local government unit and, with or without allowance for interest as the official notice of sale may specify, shall be applied on the purchase price when the bonds or notes are actually delivered and paid for, retained as liquidated damages if the bidder defaults or returned to the bidder with interest at the judgment rate if, after an acceptance of the proposal, the bonds or notes are not issued for any reason not constituting a default by the bidder. Unless required by the local governing body, no bid security shall be required in the case of tax anticipation notes, bond anticipation notes or notes to be issued under section 8109 (relating to small borrowing for capital purposes).
53 PA Cons Stat § 8167 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 81 - Incurring Debt and Issuing Bonds and Notes|Section 8167 - Reserved right to reject bids

§ 8167. Reserved right to reject bids.  Every official notice of sale of bonds or notes shall provide that the right is reserved to the governing body of the local government unit to reject all bids or proposals, but, in a case where conforming bids have been received, opened and rejected, any subsequent sale within a period of two calendar months of bonds or notes in substantially the same amount and for the same purpose must be a public sale to be held at such later time as the governing body may determine to be advantageous.    Cross References. Section 8167 is referred to in section 8162 of this title.
53 PA Cons Stat § 8168 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 81 - Incurring Debt and Issuing Bonds and Notes|Section 8168 - Failure to receive conforming bid

§ 8168. Failure to receive conforming bid.  If bonds or notes are advertised for public sale and no conforming bid is received or if all bids are returned unopened, then the local government unit may cancel the sale and devise a new series for sale or, in the alternative, it may sell the series parts from time to time during the ensuing six months at private sale in accordance with the terms originally advertised with any changes in call price or dates of call for prior redemption or both as may be deemed desirable. After the six-month period, the local government unit may sell any unsold portion of the series in any manner permitted by this subpart, with such appropriate changes in the call prices or dates or call for prior redemption or both or in other terms as may be deemed advisable, provided that, as so changed, the two portions of the series when combined and any issue of which the series is a part are in conformity with the requirements of this subpart as to term, interest rate and stated maturities.
53 PA Cons Stat § 8169 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 81 - Incurring Debt and Issuing Bonds and Notes|Section 8169 - Determination of net interest cost and net interest rate

§ 8169. Determination of net interest cost and net interest rate.   (a) Net interest cost.--Net interest cost may be determined by using either the street method or the present worth method, whichever method shall be specified in the official notice of sale.  (b) Street method.--Under the street method, a dollar amount shall be determined by computing the total amount of interest payable over the life of the series to stated maturity dates or earlier mandatory call dates and subtracting therefrom the amount of any premium paid above the aggregate principal amount of the bonds or notes or adding thereto the amount of any discount lawfully allowed in the sale.  (c) Present worth method.--Under the present worth method, there shall be ascertained the semiannual rate, compounded semiannually, necessary to discount to present worth as of the date of the bonds or notes, the amounts payable on each interest payment date and on each stated maturity or earlier mandatory redemption date so that the aggregate of such amounts will equal the purchase price offered therefor, exclusive of interest accrued to the date of delivery. The net interest cost shall be stated in terms of an annual percentage rate and shall be that rate of interest which is twice the semiannual rate so ascertained.  (d) Net interest rate.--The net interest rate for a series sold under the present worth method shall be the rate of the net interest cost. For a series sold under the street method, the net interest rate shall be determined by dividing the net interest cost by the product of $1,000 multiplied by the number of bond years from the date of the bonds or notes to the stated maturity or earlier mandatory call dates. A bond year shall be one full year that $1,000 of principal amount shall be outstanding and less than full years shall be fractionalized on a 360-day-year basis.    Cross References. Section 8169 is referred to in section 8165 of this title.
53 PA Cons Stat § 8201 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 82 - Miscellaneous Provisions|Section 8201 - Certification to department of bond or note transcript or lease, guaranty, subsidy contract or other agreement

§ 8201. Certification to department of bond or note transcript or lease, guaranty, subsidy contract or other agreement.   (a) General rule.--The governing body of each local government unit shall, before any bonds or notes except tax anticipation notes issued pursuant to section 8121 (relating to power to issue tax anticipation notes) and notes representing small borrowings issued pursuant to section 8109 (relating to small borrowing for capital purposes) are actually delivered to the initial purchasers or before becoming bound on any lease, guaranty, subsidy contract or other agreement evidencing lease rental debt, cause to be certified to the department, under the signature of the clerk or secretary of the governing body and its corporate seal, a complete and accurate copy of the proceedings for the incurring of debt, as provided in section 8111 (relating to submission to department).  (b) Other requirements unaffected.--The provisions of this section do not eliminate the filing requirements of sections 8024 (relating to exclusion of subsidized debt from net nonelectoral debt or net lease rental debt), 8025 (relating to exclusion of self-liquidating debt evidenced by revenue bonds or notes to determine net nonelectoral debt), 8026 (relating to exclusion of other self-liquidating debt to determine net nonelectoral debt or net lease rental debt), 8126 (relating to certification as to taxes and revenues to be collected) and 8128 (relating to condition precedent to validity of tax anticipation notes).    Cross References. Section 8201 is referred to in section 8130 of this title.
53 PA Cons Stat § 8202 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 82 - Miscellaneous Provisions|Section 8202 - Filing of statements of noncompletion of sale with department

§ 8202. Filing of statements of noncompletion of sale with department.  If settlement for an issue of bonds or notes or bonds or notes representing lease rental debt, which have received a required approval by the department, fails of completion in whole or in part, the local government unit shall file with the department a notification of noncompletion of sale stating what part of the issue has been delivered.
53 PA Cons Stat § 8203 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 82 - Miscellaneous Provisions|Section 8203 - Fees for filing

§ 8203. Fees for filing.  Every filing with the department shall be accompanied by a filing fee as determined in section 605-A of the act of April 9, 1929 (P.L.177, No.175), known as The Administrative Code of 1929. No submission shall constitute a filing until the proper fee is paid. All fees received under this section shall be paid by the department into the State Treasury through the Department of Revenue.
53 PA Cons Stat § 8204 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 82 - Miscellaneous Provisions|Section 8204 - Certificate of approval of transcript

§ 8204. Certificate of approval of transcript.  The department shall, upon receipt of any bond or note transcripts or other filings, carefully examine them to determine whether the debt outstanding and to be outstanding is within the applicable limitations imposed by this subpart and whether the proceedings for incurring the debt, for issuing and selling the bonds or notes and for excluding self-liquidating and subsidized debt have been taken in conformity with the Constitution of Pennsylvania and this subpart. If, upon completion of its examination, a transcript or other filing is found by the department to be in conformity with the Constitution of Pennsylvania and this subpart, the department shall certify its approval to the local government unit if required under other provisions of this subpart.    Cross References. Section 8204 is referred to in sections 8111, 8208 of this title.
53 PA Cons Stat § 8205 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 82 - Miscellaneous Provisions|Section 8205 - Certificate of disapproval and correction of proceedings

§ 8205. Certificate of disapproval and correction of proceedings.  If the department, upon completion of its examination, finds it cannot issue a certificate of approval, it shall notify the local government unit of the reasons why it cannot do so. If the proceedings or any prior filings are subject to correction for demonstrated typographical or computational error, or otherwise, or for failure to include a necessary document or certification and the correction is approved by the department, the error shall be corrected in all places or the additional document or certification shall be furnished to the department within ten days and upon any other terms the department specifies. Thereupon, the department shall certify its approval. If the deficiency is not subject to correction, the department shall certify its disapproval to the local government unit.    Cross References. Section 8205 is referred to in section 8211 of this title.
53 PA Cons Stat § 8206 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 82 - Miscellaneous Provisions|Section 8206 - Effect of failure of timely action by department

§ 8206. Effect of failure of timely action by department.  If the local government unit has submitted a filing to the department by certified mail, return receipt requested, or otherwise has an official receipt from the department, and the local government unit has not, within 20 days of the date of receipt of the filing by the department, received the certificate of approval or disapproval or notification of correctable error, the filing shall be deemed to have been approved for all purposes unless the local government unit has extended the time within which the department may act by written communication to the department or by failure to object to a written communication from the department requesting the extension. Extensions shall not exceed one additional period of 20 days.    Cross References. Section 8206 is referred to in sections 8111, 8208, 8209 of this title.