Pennsylvania Statutes Title 53 P.S. Municipal and Quasi-Municipal Corporations § 16999.16. Bonds excluded from debt of the city

(a) It is the intention of this act to provide a comprehensive authorization for the issuance of special obligations of the city which, to the extent any such obligation constitutes debt of the city, shall be self-supporting revenue debt of the city the proceeds of which may be expended for the payment or reimbursement of the cost of the purchase or construction of any municipal utility or part of such municipal utility, or facility therefor, which debt shall be deducted from the debt of the city for the purpose of ascertaining the debt-incurring capacity of the city for the purposes of section 12 of Article IX of the Constitution of Pennsylvania.

(b) The determination by ordinance or bond resolution as set forth in section 7(a)(5)   1 shall constitute a determination that the obligation of any bonds with respect to which the determination is made which constitute debt of the city shall be deducted from the debt of the city for the purposes of ascertaining the debt-incurring capacity of the city under the Constitution of Pennsylvania.