reglab/housing_qa huggingface dataset:
53 PA Cons Stat § 8110 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 81 - Incurring Debt and Issuing Bonds and Notes|Section 8110 - Debt statement

§ 8110. Debt statement.   (a) General rule.--Before delivering any general obligation bonds or notes or guaranteed revenue bonds or notes constituting nonelectoral debt or before executing an instrument evidencing lease rental debt, the officer or officers of a local government unit shall prepare and verify under oath a debt statement as of a date not more than 60 days before the filing with the department or, in the case of notes issued under section 8109 (relating to small borrowing for capital purposes), before the final adoption of the resolution authorizing their issue, showing: (1) The gross indebtedness of the local government unit, giving prospective effect to the provisions of section 8250(b) (relating to use of proceeds of refunding bonds and when refunded bonds are no longer deemed outstanding) if debt is to be refunded. (2) By items, the claimed credits and exclusions from the gross indebtedness permitted by this subpart in determining net debt. (3) The aggregate principal amount of the bonds or notes being issued or evidencing lease rental debt. (4) The borrowing base of the local government unit as shown by an appended borrowing base certificate. (5) The applicable nonelectoral debt limit and the limit for nonelectoral plus lease rental debt computed as provided in this subpart. (6) In the case of a refunding, the principal amount of bonds or notes which will no longer be deemed to be outstanding pursuant to section 8250(b) after settlement of the issue.  (b) Previously excluded self-liquidating or subsidized debt.--Where debt has previously been excluded as self-liquidating or subsidized debt, the debt statement shall be accompanied by a certification that no decrease in the amounts to be excluded is required by any change of circumstances or, if there has been a change, other than decreases resulting from the payments of bonds or notes, so that less debt is to be excluded. If it has become possible to exclude a greater amount of debt and the local government unit desires to do so, the debt statement shall be accompanied by appropriate certificates supporting the revised amount to be excluded, and a revised approval shall be obtained from the department.    Cross References. Section 8110 is referred to in sections 8026, 8103, 8111 of this title.
53 PA Cons Stat § 8111 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 81 - Incurring Debt and Issuing Bonds and Notes|Section 8111 - Submission to department

§ 8111. Submission to department.   (a) General rule.--Before delivering any bonds or notes other than notes representing small borrowings issued under section 8109 (relating to small borrowing for capital purposes), the local government unit shall apply for and receive or be deemed to have received the approval of the department under section 8204 (relating to certificate of approval of transcript) or 8206 (relating to effect of failure of timely action by department). The application, in such form as the department prescribes, shall be accompanied by a transcript of the proceedings consisting of certified copies of any of the following, not previously filed, which are applicable: (1) The ordinance calling the election in the case of electoral debt with proofs of all proper advertisements. (2) The return of election. (3) The ordinance or ordinances authorizing the bonds or notes with proofs of proper publication. (4) The accepted proposal for the purchase of the bonds or notes. (5) The ordinance or resolution awarding the bonds or notes with proofs of proper publication of the ordinance. (6) The debt statement if required by section 8110 (relating to debt statement) prepared pursuant thereto. (7) Any certificates and proofs that may be necessary for the exclusion of any portion of the series proposed to be delivered or any prior series as self-liquidating debt or subsidized debt if the exclusion is desired by the local government unit.  (b) Lease rental debt submissions.--Before becoming bound on any lease, guaranty, subsidy contract or other agreement evidencing lease rental debt, a local government unit shall apply for and receive or be deemed to have received the approval of the department under section 8204 or 8206. The application, in a form the department prescribes, shall be accompanied by certified copies of the following: (1) The ordinance authorizing the execution of the lease, guaranty, subsidy contract or other agreement with proofs of proper publication. (2) The debt statement prepared pursuant to section 8110.  (c) Validity of lease rental debt agreements.--No lease, guaranty, subsidy contract or other agreement evidencing lease rental debt executed and delivered after July 12, 1972, and prior to the approval pursuant to section 8204 or 8206 of the department shall be valid or obligatory. Except as reference is made in this subpart to lease rental debt, this subpart shall have no application to the authorization, issue or sale of its obligations by any authority.  (d) Number of counterparts.--The application may be made in as many counterparts as desired. The department, if it approves the application, shall return all counterparts, except one, with its certificate of approval appended to each.    Cross References. Section 8111 is referred to in section 8201 of this title.
53 PA Cons Stat § 8112 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 81 - Incurring Debt and Issuing Bonds and Notes|Section 8112 - Agreements with bondholders or noteholders

§ 8112. Agreements with bondholders or noteholders.  Except as otherwise specified in this subpart, a local government unit may enter into and perform contracts with the holders of its bonds or notes, binding upon the original purchasers and their respective transferees, placing greater reasonable and lawful restrictions on the local government unit or on the action of individual holders of bonds or notes than are provided in this subpart, but no additional agreement restricting the action of a holder of a bond or note shall be binding upon a remote holder of a bond or note unless the substance of the agreement is set forth in the text of the bond or note, or set forth in a bond resolution or indenture of trust which is kept available in one or more designated public offices and to all of which a reference is made in the text of the bond or note.
53 PA Cons Stat § 8113 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 81 - Incurring Debt and Issuing Bonds and Notes|Section 8113 - Lost, stolen, destroyed or mutilated bonds or notes

§ 8113. Lost, stolen, destroyed or mutilated bonds or notes.   (a) General rule.--If any temporary or definitive bond or note, including any tax anticipation note, lawfully issued under this subpart or under applicable law prior to July 12, 1972, becomes mutilated or is destroyed, stolen or lost, the local government unit shall execute, and any sinking fund depository, fiscal agent or trustee for bondholders shall, if required, authenticate and deliver a new bond or note, with appropriate coupons attached in the case of a bond or note in coupon form, of like series and principal amount as the bond or note and attached coupons, if any, so mutilated, destroyed, stolen or lost, upon surrender and cancellation of the mutilated bond or note and attached coupons, if any, or in lieu of and in substitution for the bond or note and coupons, if any, destroyed, stolen or lost.  (b) Procedure.--The local government unit shall proceed as required under subsection (a) upon filing with the local government unit or, if so provided in the bond ordinance, with the sinking fund depository, fiscal agent or trustee, evidence satisfactory to it that the bond or note and attached coupons, if any, have been destroyed, stolen or lost and proof of ownership thereof and upon furnishing of satisfactory indemnity and complying with such other reasonable regulations as the local government unit shall prescribe and paying any reasonable expenses, including counsel fees, as the local government unit or the sinking fund depository, fiscal agent or trustee may incur. Mutilated bonds or notes and appurtenant coupons, if any, surrendered shall be canceled.  (c) Status of replacement bonds and notes.--The new bonds or notes and coupons, if any, so issued shall be independent obligations and all limitations and debt limits shall be deemed increased to the extent necessary to validate the new bonds or notes and any appurtenant coupons.
53 PA Cons Stat § 8115 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 81 - Incurring Debt and Issuing Bonds and Notes|Section 8115 - Contractual effect of ordinances and resolutions

§ 8115. Contractual effect of ordinances and resolutions.  Except as otherwise provided in any ordinance or resolution authorizing or awarding bonds or notes or tax anticipation notes, the terms thereof and of this subpart as in effect when the bonds or notes were authorized shall constitute a contract between the local government unit and the holders from time to time of the bonds and notes subject to modification by the vote of a majority of the holders or such larger portion thereof as may be provided in the bond or note.
53 PA Cons Stat § 8121 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 81 - Incurring Debt and Issuing Bonds and Notes|Section 8121 - Power to issue tax anticipation notes

§ 8121. Power to issue tax anticipation notes.  A local government unit may have power and authority, by resolution of its governing body, to borrow money from time to time in any fiscal year in anticipation of the receipt of current taxes or current revenues, or both, to evidence the obligation by notes, appropriately designated, and to authorize, issue and sell the notes in the manner and subject to the limitations provided therefor in this subchapter. References in this subpart to tax anticipation notes include also revenue anticipation notes and tax and revenue anticipation notes. Limitations imposed by this subpart on the incurring of nonelectoral debt shall not apply to the obligations evidenced by tax anticipation notes. The power to borrow from time to time shall include the power to make a single authorization and then issue and sell portions of that amount of authorized notes whenever desired during the fiscal year.    Cross References. Section 8121 is referred to in section 8201 of this title.
53 PA Cons Stat § 8122 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 81 - Incurring Debt and Issuing Bonds and Notes|Section 8122 - Limitation on amount of tax anticipation notes

§ 8122. Limitation on amount of tax anticipation notes.   (a) General rule.--No local government unit shall authorize or issue tax anticipation notes in any one fiscal year which in the aggregate shall exceed 85% of: (1) In the case of notes solely payable from and secured by a pledge of taxes, the amount of the taxes levied for the current fiscal year. (2) In the case of notes solely payable from and secured by a pledge of revenues other than tax revenues, the amount of the revenues pledged. (3) In the case of notes payable from and secured by a pledge of taxes and other revenues, the sum of the taxes levied and the revenues pledged. The taxes or revenues or both shall be certified, pursuant to section 8126 (relating to certification as to taxes and revenues to be collected), as remaining to be collected or received in the fiscal year during the period when the notes will be outstanding. The certificate shall be as of a date not more than 30 days prior to and no later than the date of the vote on the resolution authorizing the issue and sale of the tax anticipation notes.  (b) Computation of notes outstanding.--In computing the aggregate amount of tax anticipation notes outstanding at any given time during the fiscal year for the purpose of the limitation imposed by this section, allowance shall be made for notes that have already been fully paid and for amounts already paid into appropriate sinking funds, if any.    Cross References. Section 8122 is referred to in section 8127 of this title.
53 PA Cons Stat § 8123 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 81 - Incurring Debt and Issuing Bonds and Notes|Section 8123 - Maturity date and time of payment of interest

§ 8123. Maturity date and time of payment of interest.  No tax anticipation notes shall be stated to mature beyond the last day of the fiscal year in which the tax anticipation notes are issued. Interest on tax anticipation notes from the date thereof shall be payable at the maturity of the notes or payable in installments at such earlier dates and at such annual rate or rates determined by the governing body of the local government unit.    Cross References. Section 8123 is referred to in section 8124 of this title.
53 PA Cons Stat § 8124 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 81 - Incurring Debt and Issuing Bonds and Notes|Section 8124 - Other terms of tax anticipation notes

§ 8124. Other terms of tax anticipation notes.  Tax anticipation notes shall be issued in denominations, shall be subject to rights of prior redemption, shall have privileges of interchange and registration, shall be dated, shall be stated to mature, subject to the provisions of section 8123 (relating to maturity date and time of payment of interest), on dates and in amounts, shall be in registered or bearer form with or without coupons, shall be payable in such coin or currency as at the place and at the time of payment is legal tender for the payment of public and private debts and shall be payable at any place or places, one of which shall be in this Commonwealth, all as the governing body of the issuing local government unit may determine by resolution.
53 PA Cons Stat § 8126 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 81 - Incurring Debt and Issuing Bonds and Notes|Section 8126 - Certification as to taxes and revenues to be collected

§ 8126. Certification as to taxes and revenues to be collected.  Prior to each authorization of tax anticipation notes, authorized officers of the local government unit shall make an estimate of the moneys to be received during the period when the notes will be outstanding from taxes then levied and assessed and revenues, including subsidies or reimbursements to be received. The estimate shall take due account of the past and anticipated collection experience of the local government unit and of current economic conditions. The estimate shall be certified by the officers and their written certificate dated not more than 30 days prior to the date of the authorization of the notes and filed with the proceedings authorizing the tax anticipation notes with the department.    Cross References. Section 8126 is referred to in sections 8122, 8201, 8208, 8211 of this title.
53 PA Cons Stat § 8127 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 81 - Incurring Debt and Issuing Bonds and Notes|Section 8127 - Sale of tax anticipation notes

§ 8127. Sale of tax anticipation notes.  Tax anticipation notes may be sold at public, private or invited sale as the governing body of the local government unit may determine. Any public sale shall be advertised and conducted in the manner and subject to the conditions provided for a public sale of bonds in Subchapter D (relating to sale of bonds and notes), except as modified by this subchapter. The governing body of the local government unit shall award the notes by resolution to specified purchasers at a specified price not less than the principal amount. At the time of delivery of each issue, series or subseries of tax anticipation notes, authorized officers of the local government unit shall certify to the original purchasers that the amount of all such notes to remain outstanding will not exceed the limitations of section 8122 (relating to limitation on amount of tax anticipation notes) calculated, however, from the date of the certificate to the respective maturity dates of all the notes to remain outstanding. The certificate need not be filed with the department, but a copy of it shall be retained by the local government unit until all tax anticipation notes issued during the fiscal year have been paid in full.    Cross References. Section 8127 is referred to in section 8208 of this title.
53 PA Cons Stat § 8128 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 81 - Incurring Debt and Issuing Bonds and Notes|Section 8128 - Condition precedent to validity of tax anticipation notes

§ 8128. Condition precedent to validity of tax anticipation notes.  No tax anticipation note shall be valid or obligatory in the hands of an original purchaser until certified copies of the authorizing and awarding resolution, the certificate as to the taxes and revenues remaining to be collected and a true copy of the accepted proposal for the purchase of the tax anticipation notes shall have been filed with the department. No approval by the department shall be required.    Cross References. Section 8128 is referred to in sections 8201, 8208, 8209 of this title.
53 PA Cons Stat § 8129 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 81 - Incurring Debt and Issuing Bonds and Notes|Section 8129 - Scope of unfunded debt

§ 8129. Scope of unfunded debt.  For the purpose of this subchapter, "unfunded debt" means obligations of the same or one or more prior years incurred for current expenses, including tax anticipation notes and payments, including termination payments, required to be made under qualified interest rate management agreements, due and owing or judgments against the local government unit entered by a court after adversary proceedings, including a judgment under section 8283(b)(2)(i) (relating to remedies), for the payment of either of which category the taxes and other revenues remaining to be collected in the fiscal year and funds on hand will not be sufficient without a curtailment of municipal services to an extent endangering the health or safety of the public or proper public education, and the local government unit either may not legally levy a sufficient tax for the balance of the fiscal year, or a sufficient tax, if legally leviable, would not be in the public interest. Unfunded debt does not, however, include debt incurred under this subpart or obligations in respect of a project or part of a project as incurred in respect of the cost of a project.  (Sept. 24, 2003, P.L.110, No.23, eff. imd.)
53 PA Cons Stat § 8130 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 81 - Incurring Debt and Issuing Bonds and Notes|Section 8130 - Approval by court to fund unfunded debt

§ 8130. Approval by court to fund unfunded debt.   (a) General rule.--Whenever the governing body of a local government unit shall be of the opinion that it has outstanding unfunded debt, it may, by petition to the court of common pleas setting forth the facts, request approval for the issuance of bonds or notes to fund the unfunded debt. After hearing, on such notice to the local government unit and its taxpayers as the court may prescribe, the court shall make an order granting authority to fund all or a part of the unfunded debt if the court finds that the unfunded debt is a lawful obligation of the local government unit; that there has been an unforeseeable decline in revenues or that taxes levied have not produced the revenues anticipated or that it was not reasonable to foresee the obligation; that paying the debt by curtailing municipal services will be dangerous to the public health, safety or education; and that it is not feasible or not in the public interest to levy additional taxes in the current fiscal year. The funding debt so approved shall be stated to mature in the amounts and over the number of years, not exceeding ten, as the court finds will accomplish the payment of the debt without endangering the rendering of municipal services or requiring the levying of excessive taxes. If the funding of the unfunded debt has not been approved by a vote of the electors, the order of the court upon cause shown may fix the portion, if any, which shall not be charged against the nonelectoral debt limitations of the local government unit under sections 8022 (relating to limitations on incurring of other debt) and 8125 (relating to security for tax anticipation notes and sinking fund) during the time the funding debt is outstanding.  (b) Issuance and sale of bonds or notes.--The bonds or notes representing funding debt so authorized by the court shall be issued and sold by the governing body as provided by other provisions of this subpart in respect of general obligation bonds except as these provisions are modified by this section or by orders of the court issued under this section, and the proceedings filed by the local government unit in respect of the funding bonds under section 8201 (relating to certification to department of bond or note transcript or lease, guaranty, subsidy contract or other agreement) shall include certified copies of the petition and of the order of the court.  (c) Applicability.--This section shall not apply to the funding of obligations in respect of a project or part of a project or incurred in respect of the cost of a project.    Cross References. Section 8130 is referred to in section 8247 of this title.
53 PA Cons Stat § 8141 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 53 - MUNICIPALITIES GENERALLY|Chapter 81 - Incurring Debt and Issuing Bonds and Notes|Section 8141 - Form of bonds or notes

§ 8141. Form of bonds or notes.  Bonds or notes may be issued in such denominations, in coupon form payable to bearer or registrable as to principal or in fully registered form, with such provisions for exchangeability and interchangeability; shall bear such identifying designation or title, including words indicating whether the bonds or notes are general obligation, revenue, guaranteed revenue or limited guaranty revenue bonds or notes; shall be dated; shall bear such rate or rates of interest, including supplemental, contingent or variable interest, but, if contingent or variable interest is specified, a maximum rate or amount shall also be specified; shall be payable on those dates; may be subject to such provisions for prior redemption in whole or in part or both, at such price or prices and at such times; shall be stated to mature or may be payable in installments on a date or dates and in such amounts; may provide for the payment by the issuer of such tax or taxes on the bonds or notes, either absolutely or out of pledged revenues; and may provide for such pledge of revenues, the establishment of such reserves and other terms, as the governing body of the issuing local government unit may determine by ordinance or ordinances adopted prior to the delivery of the bonds or notes, subject to the limitations and restrictions specified in this subpart.