Pennsylvania Consolidated & Unconsolidated Statutes
Chapter 81 - Incurring Debt and Issuing Bonds and Notes
Section 8147 - Pledge of revenues


The governing body of any local government unit which has determined to issue any revenue bonds or notes or any guaranteed revenue bonds or notes may provide by ordinance for such pledges of or priorities in such rentals, revenues, receipts, rates and charges to be received from projects of the issuing local government unit as may be desirable. The pledge or priority shall be perfected as a security interest against all creditors of the local government unit and all third parties, in accordance with the terms of the ordinance, from and after the filing of a financing statement or statements in accordance with Title 13 (relating to commercial code). For the purpose of filing, the sinking fund depository may act as representative of the bond or note holders and, in that capacity, execute and file the financing statement and any continuation or termination statements as secured party.

Cross References. Section 8147 is referred to in sections 8103, 8105, 8282 of this title.

Structure Pennsylvania Consolidated & Unconsolidated Statutes

Pennsylvania Consolidated & Unconsolidated Statutes

Title 53 - MUNICIPALITIES GENERALLY

Chapter 81 - Incurring Debt and Issuing Bonds and Notes

Extra - Chapter Notes

Section 8101 - Combining projects for financing or series of bonds or notes for sale

Section 8102 - Preliminary authorizations as to financing

Section 8103 - Ordinance authorizing issuance of bonds or notes or instruments evidencing lease rental debt

Section 8104 - Covenant to pay bonds or notes or a guaranty

Section 8105 - Additional provisions in ordinance authorizing issuance of revenue or guaranteed revenue bonds or notes

Section 8106 - Sinking fund depository and trustee for bondholders or noteholders

Section 8107 - Award of bonds or notes

Section 8108 - Bond anticipation notes

Section 8109 - Small borrowing for capital purposes

Section 8110 - Debt statement

Section 8111 - Submission to department

Section 8112 - Agreements with bondholders or noteholders

Section 8113 - Lost, stolen, destroyed or mutilated bonds or notes

Section 8114 - Evidence of signatures of holders and of ownership of bonds, notes and tax anticipation notes

Section 8115 - Contractual effect of ordinances and resolutions

Section 8116 - Unfunded actuarial accrued liability - condition precedent (Repealed)

Section 8121 - Power to issue tax anticipation notes

Section 8122 - Limitation on amount of tax anticipation notes

Section 8123 - Maturity date and time of payment of interest

Section 8124 - Other terms of tax anticipation notes

Section 8125 - Security for tax anticipation notes and sinking fund

Section 8126 - Certification as to taxes and revenues to be collected

Section 8127 - Sale of tax anticipation notes

Section 8128 - Condition precedent to validity of tax anticipation notes

Section 8129 - Scope of unfunded debt

Section 8130 - Approval by court to fund unfunded debt

Section 8141 - Form of bonds or notes

Section 8142 - Limitations on stated maturity dates

Section 8143 - Disposition of proceeds notwithstanding certain limitations

Section 8144 - Number of interest rates

Section 8145 - Place and medium of payment

Section 8146 - Execution of bonds or notes

Section 8147 - Pledge of revenues

Section 8148 - Deeds of trust and other agreements with bondholders and noteholders

Section 8149 - Negotiable qualities of bonds and notes

Section 8150 - Temporary bonds or notes or interim receipts

Section 8161 - Manner of sale of bonds or notes

Section 8162 - Contents of public advertisement and of official notice of sale

Section 8163 - Proposals for purchase

Section 8164 - Opening of bids

Section 8165 - Determination of highest and best bid

Section 8166 - Required bid security

Section 8167 - Reserved right to reject bids

Section 8168 - Failure to receive conforming bid

Section 8169 - Determination of net interest cost and net interest rate