Pennsylvania Statutes Title 53 P.S. Municipal and Quasi-Municipal Corporations § 12720.312. Payment of proceeds of tax levied for authority purposes

The proceeds of any tax levied for authority purposes or made available for use by the authority which tax proceeds shall have been pledged by the authority to secure its bonds, and collected by the Department of Revenue, shall be transferred by the State Treasurer at the times provided by law to the bond payment account established pursuant to section 314,  1 to a debt service reserve fund established under the authority of section 313,  2 to the authority for payment of operating expenses in the amount permitted pursuant to section 206  3 and then to the city account established pursuant to section 314, all in the manner provided in this act, subject to any limitations set forth in the resolution of the authority authorizing such bonds.