Pennsylvania Statutes Title 53 P.S. Municipal and Quasi-Municipal Corporations § 25682. Issue and sale of bonds

Whenever any city of the second class has enacted an ordinance or resolution imposing a water rental or charge upon consumers, and has pledged sufficient of the revenues to be derived therefrom for the payment of the interest and sinking fund charges on such non-debt revenue bonds, it shall have power to authorize the issue and sale of such non-debt revenue bonds from time to time as the work of construction proceeds, and sufficient additional non-debt revenue bonds as may be necessary may be issued and sold to provide for the interest and sinking fund charges accruing thereon, until said waterworks, extensions or improvements have been completed and have been in operation for not exceeding one year, in order to provide sufficient revenues until such time as rentals or charges may be collected from consumers.

Nothing in this section shall be construed to abridge or restrict or in any way impair the right of any city to create indebtedness in accordance with existing laws.