Pennsylvania Statutes Title 72 P.S. Taxation and Fiscal Affairs § 9806. Service agreement for bond issuance authorized

(a) Authorization.--For a bond issuance under this article, the authority and the office may enter into an agreement or service agreement to effectuate the purposes of this article, including an agreement to secure bonds issued under this article, under which the secretary shall agree to pay service charges to the authority in each fiscal year that the bonds or refunding bonds are outstanding in amounts sufficient to timely pay in full the debt service and any other financing costs due on the bonds issued under this article.

(b) Payment of service charges.--The office's payment of any service charges shall be subject to and dependent upon approval by the authority and the appropriation of funds by the General Assembly to the office for payment of any service charges.

(c) Amendment of agreement.--The service agreement may be amended or supplemented by the authority and the office in connection with the issuance of a series of bonds or refunding bonds authorized in this section.