Pennsylvania Statutes Title 72 P.S. Taxation and Fiscal Affairs § 3919.310. Disposition and use of proceeds 

(a) General rule.--The proceeds of temporary borrowings made under section 306,  1 other than the proceeds of replacement notes, and the proceeds from the sale of bonds, other than funding bonds, shall be paid to the State Treasurer and be held by the State Treasurer in a separate fund and shall be deposited in depositories as selected by the State Treasurer to the credit of the Capital Facilities Fund, which shall have such separate accounts as may be deemed desirable by the issuing officials, but not less than one separate account for each category of capital projects.  The proceeds of replacement notes shall be deposited and applied as provided in section 306(d).  The proceeds of funding bonds shall be deposited and applied as provided in section 312.  2

(b) Dedication.--The money in the Capital Facilities Fund is specifically dedicated to meeting the financial costs of capital projects.  The money shall be paid by the State Treasurer to those departments, agencies or authorities authorized to expend it as required by them to pay financial costs at the time the department, agency or authority certifies the payment to be due and payable.

(c) Investment.--Pending their application to the purposes authorized, money held or deposited by the State Treasurer may be invested and reinvested as are other funds in the custody of the State Treasurer in the manner provided by law.  Earnings received from the investment or deposit of the funds shall be paid into the State Treasury to the credit of the account in the Capital Facilities Fund to which the funds were originally deposited.