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Commonwealth pledges - 64 Pa. Cons. Stat. § 1527Legal Research Home > Pennsylvania Statutes
§ 1527. Commonwealth pledges.
(a) Bondholders.--The Commonwealth pledges to and agrees
with each obligee of the authority that the Commonwealth will
not limit or alter the rights and powers vested in the authority
or otherwise created by this chapter in any manner inconsistent
with the obligations of the authority to its obligees until all
bonds at any time issued, together with the interest on the
bonds, are fully paid and discharged.
(b) Lessees.--The Commonwealth pledges and agrees with any
person that, as owner of property which is leased or subleased
to or from the authority, it will not limit or alter the rights
and powers vested in the authority or otherwise created by this
chapter in any manner which impairs the obligations of the
authority until all the obligations of the authority under the
lease or sublease are fully met and discharged.
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Last modified: November 27, 2007 |