Pennsylvania Statutes Title 53 P.S. Municipal and Quasi-Municipal Corporations § 12720.403. Limitation on stated maturity date of tax and revenue anticipation notes;  time of payment of interest

No tax anticipation notes shall be stated to mature beyond the last day of the fiscal year in which such tax anticipation notes are issued.  Interest on tax anticipation notes from the date thereof shall be payable at the maturity of such notes or payable in installments at such earlier dates and at such annual rate or rates, fixed or variable, as the loan committee by a majority of its members, may determine.