32 Pa.C.S. § 7501
Short title of chapter
This chapter shall be known and may be cited as the "Water Facilities Restoration Act."
Pennsylvania Consolidated Statutes Title 32 — FORESTS, WATERS AND STATE PARKS
Pennsylvania · statute · 32 Pa.C.S. · 9 active provisions
Provisions
32 Pa.C.S. § 7502
Definitions
The following words and phrases when used in this chapter shall have, unless the context clearly indicates otherwise, the meanings given to them in this section: "Board." The Water Facilities Loan Board established by this chapter. "Community water supply system." (Repealed). "Department." (Repealed). "Flood control fa…
32 Pa.C.S. § 7504
Water Facilities Loan Board
(a) Creation.--The Water Facilities Loan Board is hereby created as a departmental administrative board in the Department of Environmental Resources. (b) Membership.--(Repealed). (c) Quorum.--A quorum for the conduct of business shall be at least five members of the board or their alternates. (d) Staff services.--(Repe…
32 Pa.C.S. § 7505
Powers of board
The board shall have the power: (1) To make and alter bylaws for the management of its affairs. (2) To enter into contracts of all kinds and to execute all instruments necessary or convenient for carrying out its operations. (3) To accept grants, subsidies and loans from and enter into agreements or other transactions…
32 Pa.C.S. § 7507
Borrowing authorized
(a) Aggregate limitation.--Pursuant to the provisions of section 7(a)(3) of Article VIII of the Constitution of Pennsylvania and the referendum approved by the electorate on November 3, 1981, the issuing officials are authorized and directed to borrow, on the credit of the Commonwealth, bonds not exceeding in the aggre…
32 Pa.C.S. § 7508
Sale of bonds
(a) Public sale.--Whenever bonds are issued, they shall be offered for sale at not less than 98% of the principal amount and accrued interest and shall be sold by the issuing officials to the highest and best bidder or bidders after due public advertisement on such terms and conditions and upon such open competitive bi…
32 Pa.C.S. § 7509
Debt retirement
(a) Water Facilities Loan Redemption Fund.--All bonds issued under the authority of this chapter shall be redeemed at maturity and all interest due from time to time on the bonds shall be paid from a special fund to be known as the "Water Facilities Loan Redemption Fund." For the specific purpose of redeeming the bonds…
32 Pa.C.S. § 7517
Supervision of project and security from default
(a) Inspection of project and records.--The applicant shall allow the Water Facilities Loan Board and its successors, agents and representatives the right at all reasonable times during construction and after completion of the project to enter upon and inspect the project and to examine and make copies of the applicant…
32 Pa.C.S. § 7518
Expedited approval of rate relief
For the limited and special purpose of ensuring repayment of principal and interest on loans made pursuant to this chapter, the Public Utility Commission shall approve such security issues, affiliated interest agreements and rate increase requests by applicants that are regulated utilities as are necessary and appropri…