Pledge of Revenues by District and Commonwealth

Act 230 of 1953, § 3144-B, under SECOND CLASS COUNTY CODE.

Act 230 of 1953, § 3144-B

Section 3144-B. Pledge of Revenues by District and Commonwealth.--In addition to the remedies of obligees of the district provided by sections 3140-B and 3141-B, the district is expressly authorized to pledge all or any part of the net revenues of additional sales and use tax revenues in connection with the issuance of bonds or the incurring of obligations under leases in order to secure the payment of the bonds and obligations. The Commonwealth, with the signature of the Governor and the State Treasurer, may also pledge the revenues in support of or in connection with the issuance of bonds or the incurring of obligations under leases by the district in order to further secure the payment of the bonds and obligations.

(3144-B added Dec. 22, 1993, P.L.529, No.77)