The borough shall have power to borrow money and to issue its general-obligation bonds or other such evidences of indebtedness therefor, but only when authorized by the assembly for capital improvements and ratified at an election by a majority of those qualified to vote and voting on the question. General obligation evidences of indebtedness may also be secured by revenues from a revenue-producing utility or enterprise when they are issued for the acquisition, construction, reconstruction, repair, improvement, extension, enlargement and/or equipment of the said utility or enterprise, and/or by other designated funds or revenues specifically pledged for payment of principal and interest thereon. Capital improvements as used hereinabove may also include a part or all of the borough's share of the cost of a public improvement of which a part is to be paid by benefited property. The restrictions of this section do not apply to borrowing money to meet appropriations for a particular fiscal year, nor to indebtedness to be paid from special assessments to be made on benefited property, nor to refunding indebtedness.
The borough shall have power to borrow money to meet appropriations for any fiscal year in anticipation of the collection of revenues for that year, when authorized by the assembly, and without submitting the question to the voters. All debts so contracted shall be paid before the end of the next fiscal year.
The borough shall have power to borrow money and to issue revenue bonds or other such evidences of indebtedness therefor, the principal and interest of which are payable solely out of, and the only security of which is, the revenues of a revenue-producing utility or enterprise; but only when authorized by the assembly for the acquisition, construction, reconstruction, repair, improvement, extension, enlargement and/or equipment of the said utility or enterprise. Two or more public works may be combined and treated as one entity for the purpose of acquisition, construction, improvement, extension, maintenance, operation and financing; and the governing body may provide for the payment of principal and interest from any additional special funds or other unpledged revenues which the borough may specifically pledge for payment including but not limited to revenue of a combined system of public works and special assessments on the benefited property. An election is not required to authorize the issuance and sale of revenue bonds, unless otherwise provided by ordinance.
The assembly shall have power to regulate the indebtedness of the borough and the issuance of bonds and other evidences of indebtedness, regardless of type or purpose, including general-obligation, revenue, special-assessment, refunding and other, subject only to the limitations imposed by the state constitution and law and this charter.