Pennsylvania Statutes Title 72 P.S. Taxation and Fiscal Affairs § 1803-A. Bond issuance

(1) The department, with the prior approval of the office, may be a project applicant under the Financing Law and may apply to the authority for money from the program.  The Commonwealth Financing Authority may be a project applicant under the Financing Law and may apply to the authority for money to fund projects that the Commonwealth Financing Authority may fund under the Multimodal Transportation Funding Program and to fund projects under the PA Small Water and Sewer Program.

(2) The authority may issue bonds under the Financing Law, consistent with this article, to finance:  the program which will provide funds for regional planning efforts as well as the redevelopment, reuse or revitalization of a previously utilized site for future use by businesses or others or the development of an undeveloped site in this Commonwealth;  projects under the Multimodal Transportation Funding Program;  and, projects under the PA Small Water and Sewer Program.

(1) Bonds issued under this article shall not be a debt or liability of the Commonwealth and shall not create or constitute any indebtedness, liability or obligation of the Commonwealth.

(2) Bond obligations and bond administrative expenses shall be payable solely from money pledged or available for repayment as authorized under this article.  This paragraph shall include the proceeds of the issuance of bonds.

(3) Each bond shall contain on its face a statement that: