8201 - Certification to department of bond or note transcript or lease, guaranty, subsidy contract or other agreement.
CHAPTER 82 MISCELLANEOUS PROVISIONS Subchapter A. Department of Community and Economic Development B. Sinking Funds and Other Funds and Accounts C. Refunding of Debt D. Remedies E. Penalties F. Interest Rate Risk and Interest Cost Management Enactment. Chapter 82 was added December 19, 1996, P.L.1158, No.177, effective in 60 days. SUBCHAPTER A DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT Sec. 8201. Certification to department of bond or note transcript or lease, guaranty, subsidy contract or other agreement. 8202. Filing of statements of noncompletion of sale with department. 8203. Fees for filing. 8204. Certificate of approval of transcript. 8205. Certificate of disapproval and correction of proceedings. 8206. Effect of failure of timely action by department. 8207. Records of department. 8208. Invalidity of instruments which are delivered without compliance with requirements or conditions precedent to issuance or delivery. 8209. Finality of proceedings as to validity of instruments. 8210. Power of department to define terms, issue rules and regulations and prescribe forms. 8211. Petitions for declaratory orders and complaints to department. Subchapter Heading. The heading of Subchapter A was amended May 5, 1998, P.L.301, No.50, effective in 60 days. Cross References. Subchapter A is referred to in section 8109 of this title. § 8201. Certification to department of bond or note transcript or lease, guaranty, subsidy contract or other agreement. (a) General rule.--The governing body of each local government unit shall, before any bonds or notes except tax anticipation notes issued pursuant to section 8121 (relating to power to issue tax anticipation notes) and notes representing small borrowings issued pursuant to section 8109 (relating to small borrowing for capital purposes) are actually delivered to the initial purchasers or before becoming bound on any lease, guaranty, subsidy contract or other agreement evidencing lease rental debt, cause to be certified to the department, under the signature of the clerk or secretary of the governing body and its corporate seal, a complete and accurate copy of the proceedings for the incurring of debt, as provided in section 8111 (relating to submission to department). (b) Other requirements unaffected.--The provisions of this section do not eliminate the filing requirements of sections 8024 (relating to exclusion of subsidized debt from net nonelectoral debt or net lease rental debt), 8025 (relating to exclusion of self-liquidating debt evidenced by revenue bonds or notes to determine net nonelectoral debt), 8026 (relating to exclusion of other self-liquidating debt to determine net nonelectoral debt or net lease rental debt), 8126 (relating to certification as to taxes and revenues to be collected) and 8128 (relating to condition precedent to validity of tax anticipation notes). Cross References. Section 8201 is referred to in section 8130 of this title.