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§ 3035.3. Criteria for bond issuance

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 25 P.S. Elections & Electoral DistrictsEffective: October 31, 2019

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 25 P.S. Elections & Electoral Districts (Refs & Annos)
Chapter 14. Election Code (Refs & Annos)
Article XI-B. Voting Apparatus Bonds (Refs & Annos)
Effective: October 31, 2019
25 P.S. § 3035.3
§ 3035.3. Criteria for bond issuance
Currentness
(a) Determination.--If the department decertifies one or more voting apparatuses that are in use in any county of this Commonwealth, the department shall apply to the authority to issue bonds for reimbursements to each county for the cost of procuring new voting apparatuses.
(a.1) Issuance.--Bonds may be issued in one or more series, and each series may finance reimbursement grants to one or more counties.
(b) Terms.--
(1) The department, with the approval of the Office of the Budget, shall specify in its application to the authority:
(i) the maximum principal amount of the bonds for each bond issue; and
(ii) the maximum term of the bonds consistent with applicable law.
(2) The total principal amount for all bonds issued under this article may not exceed $90,000,000.
(3) The term of the bonds issued under this article may not exceed 10 years from the respective date of original issuance.
(c) Expiration.--For the purpose of this article, authorization to issue bonds, not including refunding bonds, shall expire December 31, 2020.

Credits

1937, June 3, P.L. 1333, No. 320, art. XI-B, § 1103-B, added 2019, Oct. 31, P.L. 552, No. 77, § 3.1, imd. effective.
25 P.S. § 3035.3, PA ST 25 P.S. § 3035.3
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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