In addition to the powers and duties conferred upon the department under other provisions of law, the department shall have the power and duty to:
1. Lend money for the purposes authorized by this article over a term of years, but in no case in excess of ten years.
2. Accept grants from the Federal Government and any other individual, agency or government for use in the fund.
3. Prescribe the form of the application for a loan pursuant to this article.
4. Advise a municipality regarding the financial ability of the municipality to purchase equipment or to purchase, construct, renovate or rehabilitate facilities.
5. Assist a municipality in taking advantage of joint purchasing arrangements and of opportunities to purchase surplus equipment from the Commonwealth or other political subdivisions.
6. Require security for a loan, if determined to be necessary.
7. Specify priority of liens against any facilities or equipment purchased by a municipality using funds loaned pursuant to this article, if determined to be necessary.
8. Establish a schedule which provides at least an annual opportunity for municipalities to apply for and receive loans.
Credits
1929, April 9, P.L. 343, No. 176, Art. XVI-D, § 1605-D, added 1997, Oct. 6, P.L. 387, No. 46, § 3, retroactive effective June 30, 1997.
72 P.S. § 1605-D, PA ST 72 P.S. § 1605-D
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
