§ 213. Adjustment of indebtedness
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 8 Pa.C.S.A. Boroughs and Incorporated TownsEffective: June 17, 2014
Effective: June 17, 2014
8 Pa.C.S.A. § 213
Formerly cited as PA ST 53 P.S. § 45213
§ 213. Adjustment of indebtedness
(1) After the election of a council under section 211 (relating to temporary preservation, organization and election of officers) when a borough is newly incorporated, the council and the governing body of the township from which the borough was created shall make an equitable adjustment and apportionment of all the public real and personal property owned by the township at the time of the incorporation of the borough.
(1) The borough shall be entitled to a division of the property and indebtedness in the same proportion that the assessed valuation of the taxable real estate included within the territorial limits of the newly incorporated borough bears to the assessed valuation of the taxable real estate in the entire township immediately prior to the incorporation of the borough. The township shall be entitled to the remainder of the property and indebtedness.
(3) If only part of the improvement is located within the newly incorporated borough, the part of the indebtedness representing the part of the improvement located within the borough shall be assumed by the borough, and the adjustment and apportionment of any remaining debt shall be retained by the township.
Credits
2014, April 18, P.L. 432, No. 37, § 1, effective in 60 days [June 17, 2014].
8 Pa.C.S.A. § 213, PA ST 8 Pa.C.S.A. § 213
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
End of Document |