Issue of bonds

Act 19 of 1995 (Sp. Sess. 1), § 5, under CORRECTIONS AND SECURE FACILITIES CAPITAL BUDGET PROJECT ITEMIZATION ACT.

Act 19 of 1995 (Sp. Sess. 1), § 5

Section 5. Issue of bonds.

The indebtedness authorized in this act shall be incurred, from time to time, and shall be evidenced by one or more series of general obligation bonds of the Commonwealth in such aggregate principal amount for each series as the Governor, Auditor General and State Treasurer shall determine, but the latest stated maturity date shall not exceed the estimated useful life of the projects being financed as stated in section 6.