Bill Information

An Act amending Title 53 (Municipalities Generally) of the Pennsylvania Consolidated Statutes, in indebtedness and borrowing, further providing for definitions, for classification and authority to issue bonds and notes, for cost of project and for exclusion of other self-liquidating debt to determine net nonelectoral debt or net lease rental debt; providing for preliminary approval by the department of the issuance of certain debt; further providing for small borrowing for capital purposes, for debt statement and for submission to department; in miscellaneous provisions, further providing for fees for filing, for certificate of approval of transcript, for effect of failure of timely action by department and for records of department; providing for duties of participants in transactions relating to incurring debt and issuing bonds and notes; and repealing provisions of the Administrative Code of 1929 relating to fees of the Department of Community Affairs.