8101 - Combining projects for financing or series of bonds or notes for sale.
CHAPTER 81 INCURRING DEBT AND ISSUING BONDS AND NOTES Subchapter A. General Provisions B. Tax Anticipation Notes and Funding Debt C. Provisions of Bonds and Notes D. Sale of Bonds and Notes Enactment. Chapter 81 was added December 19, 1996, P.L.1158, No.177, effective 60 days. SUBCHAPTER A GENERAL PROVISIONS Sec. 8101. Combining projects for financing or series of bonds or notes for sale. 8102. Preliminary authorizations as to financing. 8103. Ordinance authorizing issuance of bonds or notes or instruments evidencing lease rental debt. 8104. Covenant to pay bonds or notes or a guaranty. 8105. Additional provisions in ordinance authorizing issuance of revenue or guaranteed revenue bonds or notes. 8106. Sinking fund depository and trustee for bondholders or noteholders. 8107. Award of bonds or notes. 8108. Bond anticipation notes. 8109. Small borrowing for capital purposes. 8110. Debt statement. 8111. Submission to department. 8112. Agreements with bondholders or noteholders. 8113. Lost, stolen, destroyed or mutilated bonds or notes. 8114. Evidence of signatures of holders and of ownership of bonds, notes and tax anticipation notes. 8115. Contractual effect of ordinances and resolutions. 8116. Unfunded actuarial accrued liability - condition precedent. Cross References. Subchapter A is referred to in section 8109 of this title. § 8101. Combining projects for financing or series of bonds or notes for sale. The governing body of a local government unit may by ordinance take any of the following actions in connection with the issuance of bonds or notes or the authorization of the instrument creating lease rental debt: (1) In lieu of combining two or more items or elements permitted to be combined under the definition of "project" in section 8002 (relating to definitions) as a single project, designate any one or more of the items or elements as a project and combine the projects for financing purposes by one series of bonds or notes. If the series of bonds or notes are revenue bonds or notes, all projects so combined shall be revenue-producing projects, all or a portion of the rates, rentals, receipts, tolls and charges may be combined, common reserve funds may be created and common or cross covenants may be made in respect of each project. (2) Offer for simultaneous sale under separate or combined bids any two or more series of bonds or notes of any type. (3) Provide for the financing of a project or projects by the issuance, either simultaneously or in succession, of any combination of instruments evidencing debt applicable to the project or projects and authorized by this subpart. Any ordinance required by this section may be included in any authorizing ordinance required by section 8103 (relating to ordinance authorizing issuance of bonds or notes or instruments evidencing lease rental debt). (May 5, 1998, P.L.301, No.50, eff. 60 days) Cross References. Section 8101 is referred to in section 8142 of this title.