In accordance with 53 Pa.C.S. Pt. VII Subpt. B (relating to indebtedness and borrowing), cities may:
(1) borrow money in anticipation of current revenues to an amount of not more than the anticipated current revenues, which shall be pledged for the payment of the loan or loans; and
(2) issue notes or other forms of obligation in evidence of the debt.
Structure Pennsylvania Consolidated & Unconsolidated Statutes
Pennsylvania Consolidated & Unconsolidated Statutes
Chapter 118 - Accounts and Finances
Section 11802 - Powers and duties of chief fiscal officer
Section 11803 - Deputy chief fiscal officer
Section 11804 - Regulations concerning appropriation
Section 11804.1 - Investment of city money
Section 11805 - Countersigning documents, money available and evidence required
Section 11806 - Record of assets, property, trusts, debts due, receipts and expenditures
Section 11807 - Supervision of accounts of departments
Section 11808 - Suggestions for improvement of city finances
Section 11809 - Annual budget, presentation to council, notice, revision and adoption
Section 11810 - Amending budget and notice
Section 11811 - Appropriations, tax rate and limitations
Section 11811.2 - Borrowing in anticipation of current revenue
Section 11813 - Committee to prepare uniform forms
Section 11814 - Annual reports to council on insurance and bonds