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Pennsylvania Statutes Title 72 P.S. Taxation and Fiscal Affairs § 1804-A. Criteria for bond issuance

Current as of January 01, 2026 | Updated by Findlaw Staff

(a) Issuance.--Bonds may be issued in one or more series, and each series may finance:  loans and reimbursement grants by the department under the program;  grants that the Commonwealth Financing Authority may make under the Multimodal Transportation Funding Program;  and, grants the Commonwealth Financing Authority may make under the PA Small Water and Sewer Program.

(b) Terms.--

(1) The department, with the approval of the office, shall specify in the department's application to the authority:

(i) the maximum principal amount of the bonds for each bond issue;  and

(ii) the maximum term of the bonds consistent with applicable laws.

(2) The total aggregate principal amount for all bonds issued under this article may not exceed $500,000,000.

(3) The term of the bonds issued under this article may not exceed 30 years from the respective date of original issuance, excluding refunding bonds.

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Cite this article: FindLaw.com - Pennsylvania Statutes Title 72 P.S. Taxation and Fiscal Affairs § 1804-A. Criteria for bond issuance - last updated January 01, 2026 | https://codes.findlaw.com/pa/title-72-ps-taxation-and-fiscal-affairs/pa-st-sect-72-1804-a/

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