March 20, 1985

Opinions concerning whether a statute may pledge the full faith, credit and resources of the political entity for the repayment of bonds. It may further direct that there be levied annually by the auditor and collected by the treasurer a tax sufficient to pay the principal and interest of such bonds as they respectively mature and create such sinking fund as may be necessary therefor. Under such statutes what action is needed by the governing body of the political entity for the tax levy?

Requested by: Honorable Betty J. Catoe, Lancaster County Auditor

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