Commonwealth not to impair bond-related obligations

Act 176 of 1929, § 1810-A, under THE FISCAL CODE.

Act 176 of 1929, § 1810-A

Section 1810-A. Commonwealth not to impair bond-related obligations.

The Commonwealth shall not do any of the following while each bond or series of bonds, together with interest on the bonds, are outstanding and have not been fully met and discharged:

(1) Limit or alter the rights and responsibilities of the authority, the Commonwealth Financing Authority, or the department under this article, including the responsibility to:

(i) pay bond obligations and bond administrative expenses; and

(ii) comply with any other instrument or agreement pertaining to bonds.

(2) Alter or limit the service agreement or security interest.

(3) Impair the rights and remedies of the holders of bonds.

(1810-A added July 11, 2024, P.L.550, No.54)