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Current as of January 01, 2026 | Updated by Findlaw Staff
Except as may otherwise be expressly provided by the agency, its bonds and notes shall be general obligations of the agency payable out of any moneys or revenues of the agency, including the proceeds of mortgage loans made under this act, reserve funds created therefor by the agency, any mortgage insurance contracts pertaining thereto and other lawfully available money, subject only to any agreements with holders of the bonds or notes pledging any receipts or revenues. Bonds and notes issued under the provisions of this act shall not be deemed to constitute a debt of the Commonwealth or of any political subdivision thereof or a pledge of the faith and credit of the Commonwealth or of any such political subdivision. All such bonds and notes shall contain on the face thereof a statement to the effect that neither the agency nor the Commonwealth nor any political subdivision thereof shall be obligated to pay the same or the interest thereon except from such proceeds, reserve fund or mortgage insurance contracts and that neither the faith and credit nor the taxing power of the Commonwealth or any political subdivision thereof is pledged to the payment of the principal of or the interest on such bonds.
Cite this article: FindLaw.com - Pennsylvania Statutes Title 35 P.S. Health and Safety § 1680.502a. Credit of Commonwealth or any subdivision thereof not pledged - last updated January 01, 2026 | https://codes.findlaw.com/pa/title-35-ps-health-and-safety/pa-st-sect-35-1680-502a/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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