36 P.S. § 655.14 Parkway Revenue Refunding Bonds

• Library: Pennsylvania Statutes
• Edition: 2023
• Currency: Current through P.A. Acts 2023-27
• Year: 2023
• Citation: 36 P.S. § 655.14

The commission is hereby authorized to provide by resolution for the issuance of parkway revenue refunding bonds of the Commonwealth for the purpose of refunding any parkway revenue bonds issued under the provisions of this act and then outstanding. The issuance of such parkway revenue refunding bonds, the maturities and other details thereof, the rights of the holders thereof and the duties of the Commonwealth and of the commission in respect to the same shall be governed by the foregoing provisions of this act in so far as the same may be applicable and by the following provisions:

(a) No parkway revenue refunding bonds shall be delivered unless delivered in exchange for parkway revenue bonds to be refunded thereby, except in the amount necessary to provide for the payment of matured or redeemable parkway revenue bonds or parkway revenue bonds maturing or redeemable within three months, including any redemption premium thereon;