PRIOR PRINTER'S NO. 41 PRINTER'S NO. 443
No. 40 Session of 1981
INTRODUCED BY LEVI, FRYER, A. C. FOSTER, JR. AND DeMEDIO,
JANUARY 19, 1981
AS AMENDED ON THIRD CONSIDERATION, HOUSE OF REPRESENTATIVES,
FEBRUARY 10, 1981
AN ACT
1 Amending the act of May 1, 1933 (P.L.103, No.69), entitled "An
2 act concerning townships of the second class; and amending,
3 revising, consolidating, and changing the law relating
4 thereto," authorizing taxation for the purpose of paying
5 interest and principal on certain indebtedness.
6 The General Assembly of the Commonwealth of Pennsylvania
7 hereby enacts as follows:
8 Section 1. Clause (7) of subsection A. of section 905, act
9 of May 1, 1933 (P.L.103, No.69), known as "The Second Class
10 Township Code," reenacted and amended July 10, 1947 (P.L.1481,
11 No.567), added July 2, 1953 (P.L.354, No.83), is amended to
12 read:
13 Section 905. Township and Special Tax Levies.--A. The board
14 of township supervisors may, by resolution, levy taxes upon all
15 real property and upon all occupations, or upon real property
16 alone, within the township made taxable for township purposes,
17 as ascertained by the last adjusted valuation for county
18 purposes, for the purposes and at the rates hereinafter
1 specified. All taxes shall be collected in cash.
2 * * *
3 7. [An annual tax sufficient to pay interest on indebtedness
4 and sinking fund charges.] Annual tax sufficient to pay interest
5 and principal CURRENTLY DUE on any indebtedness incurred <--
6 pursuant to the act of July 12, 1972 (P.L.781, No.185), known as
7 the "Local Government Unit Debt Act," or any subsequent act
8 governing the incurrence of indebtedness of the township.
9 * * *
10 Section 2. This act shall take effect in 60 days.
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