Pennsylvania Statutes Title 53 P.S. Municipal and Quasi-Municipal Corporations § 2966. Sinking-fund;  term of bonds;  interest

The municipality shall provide an adequate sinking-fund for the receipts and revenues derived from said waterworks or systems, for the payment of the interest on such bonds and for their redemption.  The bonds shall be payable within thirty years from the date of their issue, and shall be redeemable at such earlier period as the municipality may by ordinance provide, and shall bear interest at a rate to be fixed by the municipality, not exceeding six per centum per annum.  The bonds shall be exempt from taxation for any purpose.