§ 449.10. Investment of funds, use of loan, or bond issue proceeds.

 (a)  Liquid fuels tax account. All monies in the liquid fuels tax account may be invested so as to earn interest until expended and may be combined with other municipal funds for investment.

 (b)  Loans or bonds. All proceeds of any loan or bond issue made for road or street improvement purposes must be used exclusively for road or street improvement purposes. A single loan or bond issue shall not be made for both a road or street improvement purpose and a nonrelated purpose.

Source

   The provisions of this §  449.10 amended April 13, 1979, effective April 14, 1979, 9 Pa.B. 1308.



No part of the information on this site may be reproduced for profit or sold for profit.

This material has been drawn directly from the official Pennsylvania Code full text database. Due to the limitations of HTML or differences in display capabilities of different browsers, this version may differ slightly from the official printed version.