Pennsylvania Statutes Title 53 P.S. Municipal and Quasi-Municipal Corporations § 16999.8. Financial report and legal opinion

(i) identifying the sources of funds from which the bonds are to be paid;  and

(ii) that, on the basis of actual, if appropriate and estimated future annual financial operations of the municipal utility, in the opinion of the chief fiscal officer, utility revenues of the municipal utility will be available to pay the principal of and interest on all bonds, as the same shall become due and payable for the particular municipal utility.  Where a bank or other institution has entered into an agreement with the city to pay bonds or to acquire the bonds from the holders thereof if the city does not pay the bonds when due and the agreement requires the city to repay the bank or institution over a fixed period of time, such period of time may be included in calculating utility revenues available to pay the bonds.  The statements and opinion of the chief fiscal officer contained in such financial report with respect to expenses and revenues may be based upon statements or data contained in, and appropriate schedules and summaries may be incorporated by reference to, certificates of any registered engineer, registered architect, certified public accountant or other qualified expert who shall have been engaged to compile the relevant data, in which case each such financial report or certificate shall be attached to the report of the chief fiscal officer.