H0884B0995A00781 BIL:CMD 04/16/19 #90 A00781
AMENDMENTS TO HOUSE BILL NO. 884
Sponsor: REPRESENTATIVE FREEMAN
Printer's No. 995
Amend Bill, page 2, line 26, by inserting after
"transaction."
The resolution is subject to 53 Pa.C.S. ยง 8003(a) and
(b) (relating to advertisement and effectiveness of
ordinances) but may be valid and effective for all purposes
immediately upon adoption or as otherwise provided in the
resolution. The resolution authorizing and awarding a
qualified interest rate management agreement or authorizing a
transaction under the agreement must include in the
resolution or as an appendix to the resolution all of the
following:
(i) A copy of the qualified interest rate management
agreement or confirmation of the transaction under the
qualified interest rate management agreement in
substantially the form to be executed pursuant to the
resolution.
(ii) An interest rate management plan meeting the
requirements under 53 Pa.C.S. Pt. VII Subpt. B (relating
to indebtedness and borrowing):
(A) adopted by the contracting authority; or
(B) if the contracting authority is incurring
indebtedness which has or will be issued to a public
authority that has entered into or will enter into an
interest rate management agreement meeting the
requirements of this act, adopted by that public
authority.
(iii) A statement of the manner by which the award of
the interest rate management agreement is completed.
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