8116 - Unfunded actuarial accrued liability - condition precedent.
§ 8116. Unfunded actuarial accrued liability - condition precedent. No bond or note issued to fund an unfunded actuarial accrued liability shall be valid or obligatory in the hands of an original purchaser until certified copies of the ordinance or ordinances authorizing bonds or notes, the ordinance or resolution awarding the bonds or notes and the certificate of approval of the department have been filed with the Public Employee Retirement Commission. No approval of the Public Employee Retirement Commission shall be required.