The Local Government Unit Debt Act (LGUDA) governs the issuance of debt for local governments in PA. The Act provides overall debt limitations that relate to a local governments annual revenues and provides procedural guidance for issuing debt. The Department of Community and Economic Development (DCED) administers the Act and has published helpful resources on its website to aid local governments in the debt issuance process. These resources include sample documents for small borrowing proceedings, a debt statement and borrowing base certification documentation, a resolution for the issuance of a tax anticipation note, and more.
Click here to access these resources.