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Current as of January 01, 2022 | Updated by FindLaw Staff
Adoption of a plan in accordance with this subchapter and Subchapter C.1 1 by ordinance is a condition precedent for the approval of long-term debt or funding debt under 53 Pa.C.S. Pt. VII Subpt. B 2 (relating to indebtedness and borrowing). A debt financing provision of the plan may be waived by agreement of the lender and the municipality; but any such waiving must be expressly set forth in the indenture or contract securing the debt.
Cite this article: FindLaw.com - Pennsylvania Statutes Title 53 P.S. Municipal and Quasi-Municipal Corporations § 11701.250. Debt provisions - last updated January 01, 2022 | https://codes.findlaw.com/pa/title-53-ps-municipal-and-quasimunicipal-corporations/pa-st-sect-53-11701-250/
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