Pennsylvania Statutes Title 72 P.S. Taxation and Fiscal Affairs § 1807-A. Use of bond proceeds

(1) pay the costs of issuance of the bonds, including any refunding bonds;

(2) fund bond reserves;

(3) refund outstanding bonds, if applicable;

(4) make any other deposit required under any instrument or agreement pertaining to the bonds;  and

(5) deposit the balance into the subaccounts within the fund for the department and the Commonwealth Financing Authority.

(1) For the department to make program grants and loans to approved eligible applicants under section 1808-A   1 from the respective subaccount within the fund.

(2) From the $100,000,000 in the subaccount for use by the Commonwealth Financing Authority:

(3) For the expenses in the administration of the program, the department and the Commonwealth Financing Authority may use an amount not to exceed 0.2% of the bond proceeds in the aggregate over the life of the program drawn proportionally from both subaccounts within the fund.

(4) The department may not expend more than the following from proceeds of the fund: