Pennsylvania Statutes Title 72 P.S. Taxation and Fiscal Affairs § 9804. Finance pledge

(1) For a bond issuance under this article, annual payments received under the Master Settlement Agreement are pledged by the Commonwealth in the amount certified by the secretary under paragraph (2) for payment of principal and interest for bonds issued by the authority under this article.

(2) The secretary shall certify the amount of annual payments to be pledged for payment of principal and interest for the bonds issued by the authority under this article within 30 days of the closing date of the bond transaction.  The certification shall be published as a notice in the Pennsylvania Bulletin.

(1) Annual payments received under the Master Settlement Agreement are pledged by the Commonwealth in the amount provided in the sales agreement entered into by the authority under this article.

(2) The secretary shall certify the amount of annual payments under the Master Settlement Agreement to be pledged for payment under the sales agreement entered into by the authority under this article within 30 days of the effective date of the sales agreement.  The certification shall be published as a notice in the Pennsylvania Bulletin.

(1) For a bond issuance, the Commonwealth may pledge revenues collected by the Commonwealth under Article II   1 for the payment of principal and interest for the bonds issued by the authority under this article.  A pledge made under this subsection shall be subordinate to the pledge of Article II revenues made before the effective date of this section for outstanding indebtedness of the authority.

(2) The secretary shall certify the maximum annual amount of general revenues to be pledged to supplement amounts pledged under subsection (a) for payment of principal and interest for bonds issued by the authority under this article within 30 days of the closing date of the bond transaction.  The certification shall be published as a notice in the Pennsylvania Bulletin.