Bill Information

An Act authorizing cities of the first class to borrow money for revenue producing projects; authorizing the issuance, sale and exchange of revenue bonds and notes, revenue refunding bonds and notes, and general obligation bonds or notes to refund revenue bonds or notes; excluding the obligations of revenue bonds and notes from the computation of debt limitations; creating a perfected security interest in project revenues; requiring the establishment of sinking funds; authorizing the investment of moneys and the securing of deposits by banks, trust companies, building and loan associations; exempting revenue bonds and notes from taxation, providing remedies upon default, and conferring jurisdiction in the courts of common pleas with respect to proceedings relating to such bonds and notes.