Where the price and terms are agreed upon, a borough may become the owner of and operate any water system owned and operated by a corporation furnishing water within the acquiring borough and in nearby municipal corporations. The borough may pay for the water system from the revenues derived from general obligation bonds or utility bonds issued in the manner provided by 53 Pa.C.S. Pt. VII Subpt. B (relating to indebtedness and borrowing).
8 Pa.C.S. § 2403
Issue of bonds where water system acquired
Official source: Pennsylvania General Assembly. Reproduced from public-domain Pennsylvania statutes; confirm against the official source for the current text. Not legal advice.